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China's Sept fiscal spending quickens, land revenues fall BEIJING: Growth in China's fiscal spending in September quickened to 9.1 percent from a year earlier, data showed on Tuesday, as the authorities try to smooth volatile public spending and keep the economy on an even keel.But underscoring the cooldown in the world's second-biggest economy and its housing market, revenues that Chinese governments earned from selling land slumped 21.1 percent in September on a yearly basis.Selling land to developers is a major source of income for China's regional governments, but this revenue stream has suffered this year as the country's falling home prices crimped demand for land among developers.China's economy slowed in the third quarter to a level not seen since the global financial crisis, data showed earlier on Tuesday, increasing the chance it may miss its official growth target for the first time in 15 years this year.The Finance Ministry said government spending in September climbed 9.1 percent from ...

IMF urges caution in Africa's Eurobond borrowing spree DAR ES SALAAM: The International Monetary Fund (IMF) has warned African countries against rushing to issue Eurobonds, saying they may face exchange rate risks and problems repaying debts.African governments facing falling levels of foreign aid are on a borrowing spree to pay for new roads, power stations and other infrastructure, prompting concern from many analysts that this could raise debt levels and undermine growth."It comes with some risks," the director of the IMF's African Department, ...
India's Modi moves to reform problem-plagued coal industry NEW DELHI: India's government has pledged to open up the coal mining industry to private players in the energy-starved country as Prime Minister Narendra Modi unleashes promised reforms to revive the ailing economy.Modi's right-wing government approved an ordinance late Monday allowing auctions of coal mines to private companies for their own use, as well as permitting some firms to sell the fuel in the future.The ordinance -- or executive order -- takes the first steps ...
China says its economic growth still reasonable BEIJING: China's economic slowdown in the third quarter was due to structural reforms in the nation, a sagging housing market and higher comparison figures from a year ago, the statistics agency said, but noted that growth stayed in a "reasonable range". Sheng Laiyun, spokesman of the National Bureau of Statistics, also said consumption contributed to 48.5 percent of China's economic growth in the first nine months of the year, eclipsing investment which accounted for only ...
China September industrial output up 8.0pc on-year: govt BEIJING: China's industrial production, which measures output at factories, workshops and mines in the world's second-largest economy, rose 8.0 percent year-on-year in September, the government announced Tuesday.Retail sales, a key indicator of consumer spending, expanded 11.6 percent in the same month, the National Bureau of Statistics said, while fixed asset investment, a measure of government spending on infrastructure, rose 16.1 percent on-year in the first nine months of the year.Copyright AFP (Agence France-Presse), 2014 ...
Portugal Jan-Aug current account surplus shrinks LISBON: Portugal posted a current account surplus of 344 million euros ($439 million) in the first eight months of 2014, a 29 percent drop from a year ago, but back from a deficit accumulated this year through July, the Bank of Portugal said on Monday.Portugal, which exited an international bailout in May, also turned out a surplus of 1.88 billion euros in the combined balance of trade in goods and services in the period, down ...
Germany risks recession, in Bundesbank's bleak outlook FRANKFURT: Germany risks coming dangerously close to recession, the central bank said on Monday in a forecast that predicted little or no economic growth in the second half of the year.In the Bundesbank's gloomy assessment, the euro zone's biggest economy will stay weak, compounding the problems of the 18-country bloc, where the economy is already slowing to a virtual halt.In its monthly bulletin, the Bundesbank predicted little improvement to Germany's recent weak performance, cautioning that ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 20, 2014
Reserves $13.436 bln