Saturday, 19 November 2011 21:18
Posted by Muhammad Iqbal
BUDAPEST: Hungary's government will work out a new economic growth plan to keep growth above zero, the economy minister said on Saturday adding that it needed the planned new financing agreement with the International Monetary Fund and EU to serve as a financial safety net.
National news agency MTI reported Matolcsy as saying at a conference that growth was Hungary's "real weakness" now. The 2012 budget is based on a projection for 1.5 percent GDP growth, ...
354
NEW DELHI: India's fiscal deficit in the current fiscal year will exceed 4.6 percent of the gross domestic product target, though the final figures would depend on the actual expenditure, the deputy chairman of the Planning Commission told CNBC TV18 news channel on Monday.
"It's going to be more than, I am pretty sure, the budget amount in the current year," Montek Singh Ahluwalia said, adding, "it may not be as much as a 1 percentage point deterioration."
On Sunday, Ahluwalia had told news channel CNN-IBN that economic growth for the current fiscal year would likely be about 7-7.5 percent, while it was "not impossible" that the fiscal deficit could swell to 5.5 percent, against the government's target of 4.6 percent for the year.
Copyright Reuters, 2011 ...
HONG KONG: Hong Kong sees inflation peaking in the fourth quarter as food prices steady while the export outlook remains bleak as Europe's debt crisis affects global growth, the city's Financial Secretary John Tsang told legislators on Monday.
Local inflation has been heading north since the beginning of the year but global food prices have eased in the past six months, Tsang said.
"As inflation on food prices in the mainland continues to come down, there are ...
BANGKOK: Thailand's economy grew by 0.5 percent in the third quarter from the second, much less than expected, and since it is bound to shrink in the fourth quarter because of flooding, economists said the central bank would cut interest rates this month.
The economy is expected to shrink 3.7 percent in the fourth quarter from a year before, the state planning agency said on Monday, and that could prompt the central bank to cut rates ...
TOKYO: Japan's exports fell at the fastest pace in five months in the year to October and the worse than expected result signalled more weakness ahead as a strong yen and sputtering global growth weigh on the recuperating economy.
Although Japan's economy expanded 1.5 percent in the previous quarter, rebounding from recession triggered by March earthquake and subsequent nuclear crisis, it is expected to slow sharply in October-December. Severe floods in Thailand, a major manufacturing base ...
SEOUL: South Korea's economy will slow more than expected this year on cooling domestic demand but not so much that the central bank will lower interest rates soon, the country's top government think tank said on Sunday.
The $1 trillion economy will grow 3.6 percent this year after a 6.2 percent rise last year, the Korea Development Institute (KDI) said in a report, cutting its forecast for this year's growth from the previous 4.2 percent set ...
BUDAPEST: Hungary's government will work out a new economic growth plan to keep growth above zero, the economy minister said on Saturday adding that it needed the planned new financing agreement with the International Monetary Fund and EU to serve as a financial safety net.
National news agency MTI reported Matolcsy as saying at a conference that growth was Hungary's "real weakness" now. The 2012 budget is based on a projection for 1.5 percent GDP growth, ...
FRANKFURT: French nuclear group Areva will be cutting 1,300 jobs in Germany in reaction to the German government's decision to shut all nuclear reactors by 2022, a German magazine said on Saturday.
Areva will announce details of its plan on December 13, Der Spiegel said, without citing its sources. It said a spokesman for Areva declined comment to Der Spiegel.
French newspaper le Figaro reported last month that Areva would cut 3,000-4,000 jobs as part of a ...
