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The Latest Breaking News from Economic Growth

Zimbabwe’s budget plans open door for growth. But only if high interest rates don't derail them

When Zimbabwe’s finance minister Mthuli Ncube presented the national budget for 2023 to Parliament in November 2022, he placed high emphasis on a raft of initiatives designed to spur strong economic growth and unleash economic transformation. These included financing of infrastructure projects, education, health, value chains and other public investments.

The Conversation

Plan to promote jobs and economic growth in North of Scotland

Focus North event looked at sectors from space to offshore wind and tourism

Insider UK

EU tipped to avoid recession after gas crisis eases

Economic growth forecast to be 0.8% in 2023 but households still face cost of living pressures

The Guardian - UK

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Taiwan Makes History With Universal Cash Payment Plan

Taiwan is giving citizens and permanent residents a one-off cash payment of NT$6,000, a step towards ensuring that the benefits of economic growth are shared by all.

The News Lens

South Africa's electricity crunch declared 'state of disaster'

South African President Cyril Ramaphosa has declared a national "state of disaster" over the country's rolling power shortages. Energy provider Eskom says its ageing coal-fired power plants cannot keep up with demand and it's been imposing scheduled cuts. The blackouts are weighing on business activity and South Africa's economic growth.…

France 24

Kenya's president wants taxes to replace foreign debt – seven ways to get there

In the run-up to Kenya’s 2022 polls, economic issues, particularly public debt and joblessness, took centre stage. The Kenya Kwanza team led by William Ruto suggested that Kenya had over-borrowed, a habit they pledged to stop. Ruto’s rivals defended the debt, insisting investment in infrastructure would spur economic growth.

The Conversation

Earthquakes to disrupt Turkey's growth, stretch budget as Erdogan heads to elections

Massive earthquakes in Turkey will add billions of dollars of spending to Ankara's budget and cut economic growth by up two percentage points this year, officials and economists said, as the government faces huge rebuilding ahead of tight elections.

Reuters

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Editorial: Boosting China’s Growth Requires Addressing Fundamental Problems

Enhancing confidence and improving expectations depend on deepening reform

Caixin Global

Indonesian economic growth rises to 9-year high

Indonesia's economic growth accelerated to a nine-year high in 2022 despite global uncertainty and a final-quarter slowdown, official data showed Monday, owing to soaring commodity prices and easing Covid-19 curbs.

Bangkok Post

Co Armagh man on how apprenticeships can open doors and unlock economic growth

"There are so many different kinds of apprenticeships out there in lots of subjects and the one that suits you will come along."

Belfast Live

Pakistan's Musharraf, military ruler who allied with the U.S. and promoted moderate Islam

Pervez Musharraf, the four-star general who ruled Pakistan for nearly a decade after seizing power in a bloodless coup in 1999, oversaw rapid economic growth and attempted to usher in socially liberal values in the conservative Muslim country.

Reuters

Working for cash in hand can be a vital career step and a way out of poverty

Being paid for work in cash is often frowned upon in the UK. It can be seen as a way of avoiding tax, or cheating the system, and detrimental to economic growth.

The Conversation

China, Hong Kong scrap cross-border travel quota, COVID test

Travel between Hong Kong and China will no longer require COVID-19 PCR tests nor be held to a daily limit as both places seek to drive economic growth

The Independent UK

More millennials are leaving the nest to form their own households

From 2016 to 2021, nearly every state saw a spike in the number of young adults between the ages of 25 and 44 forming new households, a development with far-reaching implications for state populations, economic growth and infrastructure.

Tribune News Service

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The Guardian - UK

Pursuing economic growth will kill us all in the end

Letters: I risked prison to stand up against an system that will lead to ecological and societal collapse – we must look for alternative economic models, writes Zoe Cohen

StockNews.com

3 Reliable Stocks That Could Help You Make Money in 2023

The stock market witnessed a decent rally in January, with cooling inflationary pressures reducing recession fears. However, the Fed’s attempts to bring inflation down to its 2% target could hurt economic growth. Hence, it could be wise to invest in shares of Johnson & Johnson (JNJ), Novartis (NVS), and LCNB…

Asharq Al-Awsat

Saudi Economy Grows 8.7%

Saudi Arabia registered an 8.7% economic growth in 2022, the General Authority for Statistics (GASTAT) said on Tuesday. The real GDP of the Kingdom during the fourth quarter of 2022 grew by 5.4 percent, compared to the same period in 2021. “This increase in GDP was a result of the…

The Independent UK

India to raise spending on job creation ahead of election

Prime Minister Narendra Modi’s government plans to ramp up capital spending by 33% in a $550 billion annual budget designed to spur economic growth and create jobs ahead of a general election next year

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Asharq Al-Awsat

Shoukry, Lavrov Meet in Moscow, Discuss Cooperation, Int’l Developments

Egypt and Russia stressed on Tuesday the importance of developing bilateral relations between their countries at all levels. Russian Foreign Minister Sergei Lavrov welcomed his Egyptian counterpart Sameh Shoukry in Moscow for talks on regional and international issues, notably the Ukrainian crisis. At a joint press conference, Shoukry said the…

Bangkok Post

Slowing exports pressure growth

A higher risk of slowing exports amid a global economic slowdown will pressure Thai economic growth this year, despite positive growth of the tourism sector, says an executive of the Bank of Thailand.

The Independent UK

Europe scrapes out economic growth by dodging gas disaster

Europe’s economy has scraped out meager gains at the end of last year as galloping inflation fed by high energy prices and Russia’s invasion of Ukraine deterred people from spending in shops and restaurants

The Times of India

Nirmala Sitharaman tables Economic Survey 2022-23 in Lok Sabha: Highlights

NEW DELHI: Finance minister Nirmala Sitharaman on Tuesday presented the Economic Survey in Parliament ahead of the Union Budget to be presented on Wednesday.

The Times of India

Budget 2023 should focus on falling imports, impact of slowdown: Chidambaram

KOLKATA: Senior Congress leader and former Union finance minister P Chidambaram on Monday said that the BJP-led central government in its upcoming budget should focus on addressing issues like the impact of the global slowdown on economic growth, falling exports, increase in the current account deficit (CAD) and mounting total…

Asharq Al-Awsat

Saudi Sherpa Discusses Priorities of G20 Meetings in India

Saudi officials reviewed the priorities of the G20 for the current year, which include supporting global economic growth in light of geopolitical tensions, strengthening global value chains and flexible logistics services, in addition to a range of issues related to health, energy, food security, education, tourism, the labor market and…

Bangkok Post

FPO maintains Thai GDP growth forecast

The Fiscal Policy Office (FPO) has maintained its Thai economic growth forecast this year at 3.8%, in line with the continued rebound of the tourism sector and declining inflation.

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