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Poland trims 2015 fiscal deficit as economy improves WARSAW: Poland plans to cut its fiscal deficit to 2.5 percent of economic output in 2015, from a previously forecast 2.6-2.7 percent, due to an improvement in the economy and spending discipline, a government document obtained by Reuters showed. Poland, the largest economy in central and eastern Europe, is currently under the European Union's excessive deficit procedure - a tool to enforce fiscal discipline - and has been given until 2015 to cut its fiscal deficit below 3 percent of gross domestic product. "Poland plans in 2015 to reach a deficit at 2.5 percent of GDP, which will allow for ending of the excessive deficit procedure," according to the document, which the finance ministry has sent to the European Commission and the Council of the European Union. It also shows that Poland plans to cut its 2014 deficit to 3.3 percent.Poland had said previously that it planned to cut the ...

Euro zone not heading for recession, says EU's Barroso LONDON: The euro zone is not heading for another recession, the outgoing president of the European Commission Jose Manuel Barroso said on Sunday.Growth in the euro zone economy ground to a halt in the second quarter and weaker-than-expected economic data for the bloc's largest economy, Germany, have raised concerns about the prospects for a recovery."I don't think we are going to come back to recession," he told Britain's BBC television, citing forecasts from the International ...
Canada inflation hits target but how much is temporary? OTTAWA: Canadian inflation settled exactly at the Bank of Canada's target of 2.0 percent in September, with the core rate staying at 2.1 percent, according to Statistics Canada data released on Friday. Bank of Canada Governor Stephen Poloz has said some recent price increases were temporary and so should be ignored, suggesting a lower underlying rate, but for now inflation is at the midpoint of the target range of 1 to 3 percent. "Mr. Poloz ...
Indonesia says it draws $6.4 billion in FDI commitments in Q3 JAKARTA: Commitments for foreign direct investment in Indonesia in July-September were virtually identical with the level pledged in the previous three months, data released on Friday showed.The Investment Coordinating Board (BKPM) said that foreign direct investment (FDI) commitments in July-September were 78.3 trillion rupiah ($6.4 billion), compared with 78 trillion rupiah in April-June.In both periods, the commitments were 16.9 percent higher than a year earlier, in rupiah terms.On a year-on-year basis, FDI growth has been ...
India's Modi unveils reforms to boost manufacturing NEW DELHI: Indian Prime Minister Narendra Modi on Thursday unveiled a string of labour reforms, seeking to fulfil a pledge to boost the country's manufacturing sector.Modi, whose right-wing Bharatiya Janata Party swept to power in May on a mandate to revive India's flagging economy, said he wanted to simplify the byzantine rules and regulations that manufacturing businesses face."We have replaced 16 forms (for factory owners) with one form, which will be available online," Modi said ...
US jobless claims drop to lowest level in 14 years WASHINGTON: New claims for US unemployment insurance benefits unexpectedly fell last week to their lowest level in 14 years, the Labor Department said Thursday.Initial claims dropped by 23,000 to 264,000 in the week ending October 11, an eight percent decline from the previous week.That is the lowest weekly number for jobless claims since April 15, 2000 when 259,000 people filed, and another sign of an improving jobs market.Analysts expected last week's claims to rise slightly ...
Deflation stalks Europe's periphery as inflation hits 5-year low BRUSSELS: Deflation hit five peripheral euro zone countries in September as inflation slipped to its lowest for five years and exports faltered, data on Thursday showed, offering little hope that the bloc will avoid its third recession in six years.While consumer inflation at 0.3 percent was unchanged from Eurostat's Sept. 30 estimate and met market expectations, Greece, Spain, Italy, Slovenia and Slovakia showed deflation in the month on persistently depressed household demand.With such a minimal ...


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