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German institutes more optimistic on growth outlook BERLIN: Germany's leading economic think tanks on Thursday raised their growth forecast for Europe's top economy this year and next year, but warned of headwinds from new government policies. The four institutes predicted that the German economy would expand by 1.9 percent in 2014.That would mark a big increase from 0.4 percent in 2013, and then it would grow by 2.0 percent in 2015, they said."In spring 2014, the German economy is on an upturn. Domestic demand is the main growth engine," the institutes -- Ifo in Munich, DIW in Berlin, IW in Halle and RWI in Essen -- wrote in their spring report. The 2014 growth forecast is fractionally more optimistic than the institutes' previous prognosis of 1.8 percent from last autumn. The government is pencilling in growth of 1.8 percent for this year, while both the German central bank or Bundesbank and the International Monetary Fund are expecting ...


Romanian inflation edges down in March, below forecast BUCHAREST: Romania's inflation edged down to a fresh low of 1.0 percent on the year in March from February's 1.1 percent, remaining below the central bank's 1.5-3.5 percent target, the National Statistics Board said on Thursday. A median forecast of analysts polled by Reuters showed inflation at 1.2 percent in March. The Board said consumer prices were flat on the month. Food prices fell 0.1 percent and non-food and services prices were each 0.1 percent ...

Russia says NATO is using Ukraine crisis to boost appeal MOSCOW: Russia's Foreign Ministry accused NATO on Thursday of using the crisis in Ukraine to boost its appeal to members and justify its existence by rallying them against an imaginary threat. "The constant accusations against us by the Secretary General (Anders Fogh Rasmussen) convince us that the alliance is trying to use the crisis in Ukraine to rally its ranks in the face of an imaginary external threat to NATO members and to strengthen demand ...

Russian cargo ship docks to space station MOSCOW: A Russian cargo ship has successfully docked with the International Space Station Thursday, bringing the crew crucial supplies and water, Russia's space agency said.The unmanned Progress M-23M ship, which was launched from the Baikonur cosmodrome in Kazakhstan on Wednesday, docked with the ISS at 2114 GMT, two minutes later than scheduled, the Roscosmos agency said.The station was flying over the west coast of Peru at the time, NASA said.The ship is packed with some ...

Third anti-corruption activist on trial in China BEIJING: A Chinese anti-corruption campaigner went on trial in Beijing on Thursday, his lawyer said, joining two others who appeared in court this week as China's government cracks down on activists.Zhao Changqing, 45, faces a possible five year prison sentence for supporting activists who unveiled banners in Beijing calling for government officials to disclose their assets -- despite not being present, his lawyer Zhang Peihong said.Zhao is associated with the New Citizens Movement, a loose-knit ...

Car bomb explodes outside a Greek central bank building, no injuries ATHENS: A car bomb went off outside a Bank of Greece building in central Athens early on Thursday, causing damages but no injuries a police source said. Police cordoned off the area after a Greek newspaper received a warning call from a person saying that a bomb containing about 70 kilograms of explosives would detonate at the central bank, the police official added on condition of anonymity. The explosion comes hours before Greece plans to ...

Philippines' export growth at over 3-year high in Feb MANILA: Philippine exports rose at their fastest pace in more than three years in February, government data showed on Thursday, driven by robust shipments of electronics and a rising contribution from industrial manufacturing.Total exports in February jumped 24.4 percent from a year earlier, the biggest gain since December 2010, the statistics agency said. Electronics exports jumped 26.6 percent year-on-year, their fastest growth since October 2010.February also marked the third straight month in which exports from ...


 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln