Latest in Tag: Economy Highlight

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Latest in Tag: Economy

Egypt is committed to fiscal consolidation and economic reform plan: Fitch

Egypt’s new budget and lower electricity and fuel subsidies demonstrate a continued commitment to fiscal consolidation and economic reform, backed by the country’s IMF loan programme, Fitch Ratings said in a recent note. “Narrowing the fiscal deficit supports Egypt’s sovereign credit profile, but significantly reducing the public debt ratio is a multi-year task,” the note …

Elsayed Solyman

South African economy shrinks, slips into recession

Africa’s third-biggest economy contracted in the first quarter of this year, entering recession for the first time in eight years amid weak manufacturing output and slumping trade.Official data released by South Africa’s statistics agency, Stats SA, on Tuesday showed Africa’s largest economy contracting by 0.7 percent between January and March this year, following a 0.3 …

Deutsche Welle

Japan in longest economic expansion in a decade

The world’s third-largest economy has grown again in the first quarter, marking a long string of gains since 2006. But analysts warned that the nation’s long battle to conquer deflation was far from over.Japan’s economy grew by 0.5 percent quarter on quarter in the first three months of the year, fresh statistical data showed Thursday, …

Deutsche Welle

Eurozone economy grows at unspectacular rate

The 19 nations sharing the euro have logged a moderate GDP growth rate for the first quarter. Analysts were quick to point out that economic expansion was a lot faster than in the US, the world’s largest economy.The euro area economies booked a combined expansion rate of 0.5 percent in the January to March period, …

Deutsche Welle

Greek economy slides back into recession

A first-quarter estimate by statisticians has suggested the Greek economy has slipped backed into recession. The cash-strapped southern eurozone nation is facing fresh spending cuts – and more protests by workers.Greece’s national statistics office, Elstat, announced Monday its preliminary figures saw the euro area nation slither into recession again in the January to March period, …

Deutsche Welle

The heritage of economic citizenship: a‘refuge’ for advancement

A lot of unnecessary energy has already been expended on Egyptian television arguing over the planned reforms ofresidency and naturalisation procedures, with accusations of treason flying both ways. The idea is that you get a five-year long residency if you stash a lot money in the bank that the government will then spend and invest …

Emad El-Din Aysha

Greeks still hostile to reforms despite economic depression

Since Greece’s debt crisis exploded in 2009, creditors have demanded deep governance reforms. Greeks have so far resisted. In their eyes, there are good reasons for that resistance, reports Miltiades Schmidt.From the perspective of Greece’s creditors, it’s very hard to understand why the country clings to what they see as fossilized, corrupt and inefficient administrative …

Deutsche Welle