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Irish economy charges ahead in the second quarter DUBLIN: Ireland's economy grew 1.5 percent in the second quarter to rise a whopping 7.7 percent from a year ago, levels that economists said may allow the government to raise again growth forecasts it just upgraded last week.Less than 12 months out of a three-year EU/IMF bailout, Ireland is bucking the trend in the euro zone's stalled recovery. Employment is growing strongly, exports are rebounding and consumers are beginning to spend again.The bright start saw gross domestic product (GDP) grow 2.8 percent quarter-on-quarter in the first three months of the year, before the second quarter rise that significantly beat the 0.5 percent fall expected by economists polled by Reuters."The GDP data is finally reflecting the evidence from the surveys and the PMIs that the economy is recovering really rapidly," said Conall Mac Coille, chief economist at Davy Stockbrokers."Every part of the economy - the export sector, construction, consumer spending - ...

Portugal Jan-July current account swings to deficit LISBON: Portugal posted a current account deficit of 961 million euros (1.24 billion US dollars) in the first seven months of the year after a surplus of 459 million euros in the same period of 2013, Bank of Portugal data showed on Thursday.Portugal, which exited an international bailout in May, still churned out a surplus of 749 million euros in the combined balance of trade in goods and services in the period, but it was ...
China Jan-Aug investment in infrastructure areas rose 13.7pc y/y BEIJING: China invested 1.36 trillion yuan ($221.4 billion) in railways, roads and waterways in the first eight months of the year, a 13.7 percent increase from a year earlier, a government official was quoted as saying on Thursday.The China Securities Journal quoted Li Yang, the spokesman for the Ministry of Transport, as saying China was maintaining a rapid growth of spending on infrastructure in the third quarter.The Chinese economy has relied on massive infrastructure spending ...
Russia approves tough budget as sanctions restrict growth MOSCOW: The Russian government on Thursday approved the country's toughest budget since the global financial crisis to keep a tight control on spending as Western sanctions over the Ukraine crisis exacerbate an economic slowdown.The 2015-2017 budget allows for tapping into the country's reserves for the first time since the 2008 global crisis, while foreseeing an end to real wage growth, a struggle to tame inflation and a falling rouble.It also relies on optimistic forecasts for ...
Italy to privatise postal service in early 2015: Treasury official MILAN: The Italian government will privatise the state-owned postal service early in 2015, a Treasury official said on Thursday, missing an initial deadline of carrying out the sale by the end of this year."Italy is looking to privatise some of Italy's major companies such as (postal service) Poste and (railways company) Ferrovie Italiane," said Fabrizio Pagani, head of office of Italy's Finance Minister, Pier Carlo Padoan."The privatisation of Poste will not happen this year, since ...
Cheaper oil no big threat to Gulf economies, a boon for North Africa DUBAI: Falling oil prices may prove the best medicine for economies in the Arab world, rebalancing growth towards countries struggling to recover from the Arab Spring uprisings without doing major damage to the oil exporters of the Gulf.The price of Brent crude has sunk by nearly $20 from its June peak to as low as $96 a barrel in recent weeks, its lowest level since mid-2012. Behind the drop is soft economic data from top ...
Sri Lanka eyes 8.2pc growth, 4.4pc fiscal deficit in 2015 COLOMBO: Sri Lanka is aiming for a higher economic growth of 8.2 percent and a lower fiscal deficit target of 4.4 percent of gross domestic product (GDP) next year, a government document showed on Thursday.A cabinet paper submitted by President Mahinda Rajapaksa, who is also the finance minister, showed that the $67-billion economy is expected to clock higher growth in 2015 than this year's estimated 7.8 percent expansion, while fiscal deficit is seen to be ...

 



 
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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 $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln