Introduction: Rabobank, one of the leading banks in the Netherlands, has upgraded its economic forecast for the Eurozone in 2023. The bank now predicts growth of 0.3% instead of the previously projected contraction of -0.5%. The upgrade is due to lower energy prices, government subsidies, and the overall resilience of.
Hungarian inflation rate declined to 25.4% in February, as electricity, gas and food prices registered the highest surge in annual terms. The article provides an overview of the country’s inflation trend, its causes and effects. Introduction Inflation is a persistent increase in the general price level of goods and services.
The U.S. trade deficit widened moderately in January as imports and exports increased strongly. According to the Commerce Department, the trade deficit increased 1.6% to $68.3 billion, compared to December’s revised figure of $67.2 billion. The latest data also shows a surge in imports of motor vehicles, parts, and engines.
Ukraine’s President Volodymyr Zelenskiy and the UN Secretary-General Antonio Guterres are urging the extension of the Black Sea Grain Initiative, a trade deal that permits Ukraine to export grain via Black Sea ports while under Russian attack. The 120-day agreement was first brokered by the UN and Turkey in July.
The European Central Bank (ECB) is concerned about the current level of inflation in the Eurozone and is indicating that it may raise interest rates by an additional 200 basis points in the coming months to address the issue. This move could take the central bank’s rate to 4.5%. Last.
The Association of the Banks of Lebanon’s (ABL) secretary general has warned that commercial banks in Lebanon do not have enough liquidity to pay back depositors. This article explores the causes and potential consequences of Lebanon’s ongoing banking crisis. Introduction Lebanon is facing a deepening banking crisis, with commercial banks.
Introduction The world economy is constantly evolving, with new trends, challenges, and opportunities emerging all the time. Whether you’re a business owner, investor, or simply interested in global affairs, understanding the state of the world economy is crucial. In this article, we’ll explore the current state of the global economy,.
A senior United Nations Development Programme (UNDP) official, Louisa Vinton, has revealed that the destruction caused by a catastrophic earthquake in Turkey earlier this year will exceed $100 billion. Speaking at a press briefing from Gaziantep, Vinton stated that the preliminary damage figure only covers Turkey, and is being used.
The Ukrainian economy is expected to grow by only 1% in 2023, according to the country’s economy ministry. This is a significant decrease from the previous projection of 3.2% growth this year. The decrease is attributed to ongoing fighting in the country, which is expected to continue beyond the middle.
Sri Lanka’s commitment to reducing inflation quickly towards single-digit levels is evident as the country’s central bank raised interest rates by 100 basis points, according to the International Monetary Fund (IMF). In a surprise move, the country’s central bank raised rates to battle inflation, which is at 50.6%, as the.
The International Finance Corporation (IFC) has announced that it will offer Sri Lanka a $400 million cross-currency swap facility to fund essential imports. The funds will provide a much-needed foreign exchange cushion for Sri Lanka, which is currently grappling with its worst financial crisis in over seven decades, partly triggered.
The Governor of the Bank of Japan (BOJ), Haruhiko Kuroda, has reiterated his resolve to maintain the central bank’s ultra-loose monetary policy, even as the country’s inflation rate hit a 41-year high of 4.2% in January. The surge in consumer inflation is mainly due to rising raw material costs, prompting.