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Spain improved its tax intake by over 7 percent in the year to the end of May, the government said on Tuesday, allowing it to reduce its budget deficit and giving the government room to spend in an election year. The economy grew at its fastest quarterly rate in more than seven years during the first quarter. The government projects 2.9 percent growth for the year as a whole, putting Spain ahead of Germany and France.

The leu eased slightly on Friday after Romania's review of an aid deal collapsed because of tax cuts parliament approved earlier this week. Poland's zloty also weakened after Prime Minister Ewa Kopacz, whose centre-right party seeks to win back support before an autumn parliamentary election, was quoted as saying on Friday that she wanted tax cuts.
Emergency car import duties imposed by Ukraine in 2012 to safeguard its own auto industry violate global trade rules, the World Trade Organisation said Friday, urging Kiev to lift them. A WTO panel of experts found in favour of Japan, which brought the complaint against Ukraine, ruling that "Ukraine acted inconsistently" with a range of international trade rules, including the 1994 GATT agreement.
The European Union published its first list of international tax havens on Wednesday as part of a crackdown on multinational companies trying to avoid paying tax in the 28-nation bloc. The list of 30 territories includes Hong Kong and Brunei in Asia, Monaco, Andorra and Guernsey in Europe and a series of Caribbean havens including the Cayman Islands and British Virgin Islands.
Hillary Clinton launched Saturday her bid to become the first woman president of the United States, unveiling a progressive platform calling for tax breaks for the struggling middle class and universal preschool. Dressed in an electric blue pant suit, a confident and relaxed 67-year-old Clinton outlined a vision of equal opportunity, civil rights for all and an America leading the world in the first major rally of her campaign.
Sri Lanka's government revenue will increase by at least 30 percent in 2015, but the new administration is struggling to repay the massive debts on infrastructure projects incurred by the previous government, Finance Minister Ravi Karunanayake said. Since assuming power after the January 8 presidential elections the government has slowed many infrastructure projects amid allegations of corruption and over-estimation of projects by the previous administration headed by Mahinda Rajapaksa, who has rejected such allegations.
Indonesia is exempting most goods from a luxury tax in a bid to boost household consumption and revive faltering economic growth, the finance minister said on Thursday. Growth in Southeast Asia's largest economy has slipped to its most sluggish pace since 2009, and in the first quarter consumption languished at 5 percent, the slowest for nearly four years, as disposable incomes were squeezed.

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln