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40pc of the jobless worldwide are young people ISLAMABAD: The International Labour Organisation (ILO) has declared that 40 per cent of the jobless worldwide are young people, adding that there are nearly 75 million unemployed youth aged 15 to 24 in 2012, an increase of nearly 4 million since 2007.   It said the youth unemployment crisis could be beaten but only if job creation for young people became a key priority in policy-making.   "The world is facing a worsening youth employment crisis: young people are three times more likely to be unemployed than adults and over 75 million youth worldwide are looking for jobs," it said, Nigerian Tribune Quoted.   The ILO has warned of a "scared" generation of young workers facing a dangerous mix of high unemployment rate, increased inactivity and precarious work in developed countries, as well as persistently high working poverty in the developing world.   The ILO's programme on youth employment operates through a global network of technical teams at ...

France to reallocate 2bn euros for job creation  PARIS: France will reallocate 2 billion euros ($2.6 billion) from its 2013 budget to state-aided job creation as part of efforts to stem unemployment, Budget Minister Jerome Cahuzac said on Sunday.   With joblessness at a 13-year high 10.3 percent, President Francois Hollande has promised to turn things around this year and hopes that plans to create thousands of subsidised jobs and incentives for companies to hire young workers kick in quickly.   Speaking on Europe 1 radio, Cahuzac ...
Italy ROME: Italy's outgoing prime minister, Mario Monti, said on Sunday he would alter an unpopular property tax imposed by his own government, as a poll showed his centrist bloc gaining in popularity ahead of next month's election.   Monti's new centrist formation was third in a survey published on Sunday ahead of the Feb. 24-25 parliamentary vote, behind a centre-left coalition led by Pier Luigi Bersani and the centre-right bloc of former prime minister Silvio Berlusconi.   Monti, a ...
IMF cuts Malawi 2013 growth forecast on inflation, drought LILONGWE: International Monetary Fund expects Malawi's economy to grow by 5.5 percent this year, more than double the rate estimated for 2012, but slightly lower than the 5.7 percent the IMF had previously projected.   IMF head Christine Lagarde said a spike in inflation, lower-than-expected foreign exchange earnings and a drought that has cut into farm production have hurt the economy. But she was optimistic reforms would restore financial stability.   "Malawi has already made significant progress in addressing ...
France to reallocate 2bn euros for job creation PARIS: France will reallocate 2 billion euros ($2.61 billion) from its 2013 budget to help finance state-aided job creation, Budget Minister Jerome Cahuzac said on Sunday.   With the unemployment rate at a 15-year high and rising, President Francois Hollande has promised to turn things around this year and hopes that plans to create thousands of subsidised jobs and "generation contracts" to encourage companies to hire young workers kick in quickly.   Speaking on Europe 1 radio, Cahuzac said ...
Colombia BOGOTA: Colombia's consumer prices rose 0.09 p ercent in December while inflation for 2012 was 2.44 p e rcent, the government's statistics agency said on Saturday.   In a Reuters poll late last year, analysts saw inflation at 0.30 percent in December, swinging from the decline of 0.14 percent registered in November. The poll expected consumer prices to end the year up 2.65 percent.   Consumer prices rose 0.42 percent in December 2011.   At its last monetary policy meeting, Colombia's ...
QUITO: Ecuador's consumer prices rose 4.16 percent last year, the government of the South American OPEC nation said on Saturday, below its forecast of 5.14 percent.    That was lower than the 5.41 percent recorded in 2011, but above the 3.33 percent seen in 2010. The success at keeping price increases in check was a big part of the country's robust economic performance last year.   Ecuador's economy is likely to have expanded by about 5 percent in 2012, ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
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MonthlyAugust
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WeeklyOctober 23, 2014
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