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Spain says public debt to top 100 percent of GDP in 2015 MADRID: Spain's public debt ratio will top the symbolic level of 100 percent of national output next year before it starts dropping in 2017, the government's 2015 budget proposal showed Tuesday.The eurozone's fourth-biggest economy is set to end the year with a debt ratio equal to 97.6 percent of the country's gross domestic product (GDP), the proposal handed to parliament predicted.The debt ratio will climb to 100.3 percent of GDP in 2015 and 101.5 percent a year after, before dropping to 98.5 percent in 2017. European Union rules say that debt must not exceed 60 percent of GDP, or be falling significantly towards this ratio.Spain enjoyed a relatively low debt ratio, equal to 36.3 percent of GDP, before the start of the global financial crisis in 2007.But public debt soared after the implosion of a decade-long property bubble, which tipped the economy into a deep double-dip recession and threw millions ...

US consumer confidence, home prices show weakness NEW YORK: US consumer confidence fell in September for the first time in five months and home prices in July rose less than expected from a year earlier, underscoring the unsteady nature of U.S. growth.Another report on Tuesday showed business activity growth in the U.S. Midwest decelerated slightly in September."We're continuing to effectively struggle," said Mike Englund, chief economist at Action Economics in Boulder, Colorado. "Some of the optimism that we got in the updraft ...
Moody's could wait until 2016 to decide on Brazil rating SAO PAULO/RIO DE JANEIRO: Moody's Investors Service could wait until 2016 to decide whether to cut Brazil's sovereign rating, a senior analyst at the firm said on Tuesday, adding that rampant budget spending remains the "weakest link" in the country's credit profile.Moody's, which earlier this month warned it could lower Brazil's "Baa2" rating over the next two years due to a slower economy and a swelling debt burden, expects to convene a committee to discuss ...
Inflation eases in advanced nations for third month: OECD PARIS: Inflation in the world's richest nations eased for the third straight month in August, the OECD said on Tuesday, dragged down by slowing price rises in Europe's moribund economy.Consumer prices rose by 1.8 percent in the year to August in the 34 advanced democracies which make up the Organisation for Economic Cooperation and Development, down from 1.9 percent in July. The fall has been driven by Europe, where concerns about stalling inflation have already ...
Italy Aug jobless rate falls to 12.3pc, but youth unemployment hits new record at 44.2pc ROME: Italy's unemployment rate fell in August to 12.3 percent from 12.6 percent in July but joblessness among young people hit a new record above 44 percent, national statistics bureau ISTAT reported on Tuesday.ISTAT said a net 32,000 jobs were created in August from July and employment was broadly stable from a year earlier.The jobless rate has oscillated between 12.0 percent and 12.7 percent since March last year and in August it fell back to ...
UK house prices fall for first time in 17 months LONDON: House prices in Britain fell for the first time since April 2013 this month, mortgage lender Nationwide said, adding to evidence that a surge in house prices is starting to level off.Nationwide said the average house price in Britain unexpectedly fell by 0.2 percent in September to 188,374 pounds ($306,500) after rising by 0.8 percent in August.House prices are now 9.4 percent higher than a year earlier, the smallest annual increase since February and ...
Turkey hikes energy prices, pressuring inflation ISTANBUL: Turkey will hike electricity and natural gas prices by 9 percent from October, Energy Minister Taner Yildiz said on Tuesday, blaming a weaker currency for the price hikes in the heavily import-dependent country.The hikes are expected to add 0.6-0.7 percentage points to inflation, analysts said. Inflation reached 9.54 percent in August, double the central bank's 5 percent year-end target.Last week, the central bank left its key interest rates unchanged despite slowing economic growth, as ...

 



 
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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
WeeklySeptember 25, 2014
Reserves $13.305 bln