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Japan PM adviser calls for delay in next sales tax hike till 2017 TOKYO: A key economic adviser to Japanese Prime Minister Shinzo Abe said on Monday that the next sales tax rise should be delayed by a year and half, to 2017, as a tax hike in April has hit the economy harder than expected.Etsuro Honda, a prominent outside architect of Abe's reflationary policies, added to a recent chorus of cautious views on the sales tax hike planned for next year, clouding the outlook for Japan's efforts to curb snowballing public debt.Prime Minister Shinzo Abe is due to decide in December whether to go ahead with the second sales tax rise in October 2015, after assessing third-quarter gross domestic product data and other forthcoming indicators.The University of Shizuoka professor said a recent slew of weak economic indicators including household spending, factory output and exports made him think that the economy is clearly "undershooting" his outlook seen just a couple of months ago.In ...

Putin says spending from Russia's sovereign fund can't be raised: Interfax MOSCOW: Russia cannot spend more of the $83 billion parked in its National Wealth Fund (NWF), President Vladimir Putin said on Monday, after the government recently raised the cap on how much of the fund can be used for domestic investments.Spending pressure on the government has increased as a result of the Ukraine crisis, which has led several Russian companies to request state finance to compensate for the closure of western capital markets.The NWF, a ...
Turkey's August exports rise 5.2pc to $11.07bn ISTANBUL: Turkish exports in August rose 5.2 percent year-on-year to $11.07 billion, bringing exports in the first eight months of the year to $104.62 billion, the Turkish Exporters' Assembly (TIM) said on Monday.Exports to major trading partner Iraq fell 27 percent to $632 million last month, TIM also said, less of a fall than in previous months. Trade between the neighbours has been hit since June when Islamic militants seized swathes of northern Iraq and ...
Ireland bucks the trend in euro zone's stalled recovery DUBLIN: Ireland is significantly bucking the trend in the euro zone's stalled recovery with evidence building from companies to consumers that the economy is set to grow faster than most on the continent this year and beyond.It's not back to Celtic Tiger days by any means.The economy may match that of 2006 by the end of the year, but will still be off the 2007 pre-crisis high. House prices are still more than 40 percent ...
India's July infrastructure output growth slows to 3-month low of 2.7pc NEW DELHI: India's annual infrastructure output growth slowed to a three-month low of 2.7 percent in July, government data showed on Monday, dragged down by a contraction in production of natural gas, steel, fertilisers and refinery products.The output expanded an annual 7.3 percent in June, its fastest pace in nine months.The sector, which comprises coal, crude oil, oil refining, natural gas, steel, cement, electricity and fertilisers, accounts for 37.9 percent of India's industrial output.Copyright Reuters, ...
Greek economy shrinks at slowest pace since late 2008 ATHENS: Greece's economy shrank a revised 0.3 percent in the second quarter from a year earlier, contracting at its slowest pace since late 2008, data showed on Monday. The gross domestic product reading, based on seasonally-unadjusted data, was revised down from a flash estimate earlier this month showing a 0.2 percent contraction. It was the fifth straight quarter of slowing economic contraction. Greece and its EU/IMF international lenders project the economy will emerge from a ...
German machine-tool orders stagnate in July FRANKFURT: Falling domestic demand hit Germany's key mechanical engineering sector in July, the VDMA industry federation said on Monday. The manufacture of machine tools is an important part of Germany's industrial and export performance.In July, overall incoming orders were stagnant compared with the same month a year earlier, VDMA said in a statement, with export orders rising by 4.0 percent but domestic orders down by 6.0 percent.Taking a three-month comparison to iron out short-term fluctuations, ...

 



 
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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 02, 2014
Reserves $13.581 bln