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British Secretary to the Treasury, Philip Hammond, during a spring appeal to parliament, reported a drop in the forecast for GDP growth in the UK in 2019 to 1.2% from a 1.6% rise expected earlier. The Ministry of Finance left the forecast for 2020 unchanged, expecting an economic growth of 1.4%. At the same time, the ministry improved the growth forecast for 2021 from 1.4% to 1.6% and for 2022 — from 1.5% to 1.6%. It is reported that the current fiscal year will be completed at the end of this month with a budget deficit of 22.5 billion pounds, which is 3 billion pounds below the planned figure. By fiscal 2023-2024, the ministry expects to reduce the deficit to 13.5 billion pounds. Hammond also told the British Parliament that the forecasts imply signing an agreement on Brexit.
Japan’s Finance Minister Taro Aso expressed worries about the yen’s continual rise, calling it “rapid” and hinting at the strong currency’s impact on exports as Japan struggles through a recession. The yen’s ...
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Thailand's finance ministry on Thursday cut back its 2020 economic forecast to a record 8.5% contraction in GDP. This is a substantial contrast from a 2.8% growth it expected in January as the COVID-19 situation continued to worsen. The ministry’s ...
KYC Policy