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Portugal's budget meets deficit rules, aims to ease austerity LISBON: Portugal has set itself on a road towards recovery with a 2015 budget deficit well within EU fiscal limits, the second eurozone bailout country after Ireland to begin to emerge from years of austerity.Lisbon will present its budget to Brussels on Wednesday after raising slightly on Tuesday its projected deficit to 2.7 percent of gross domestic product.That is up from the 2.5 percent it had earlier promised lenders, but still below the EU 3.0-percent ceiling."To have insisted on a deficit of 2.5 percent (of GDP) would have been budgetary fanaticism," said Prime Minister Pedro Passos Coelho.Portugal, which escaped bankruptcy in 2011 thanks to an international bailout of 78 billion euros ($100 billion), says it will remain cautious but also wants to ease the fiscal pressure to encourage the recovery of its fragile economy.The government has refused to impose more hardship on the Portuguese."It would be counterproductive to increase taxes ...

China inflation slips to near 5-year low, more stimulus measures expected BEIJING: China's consumer inflation slowed more than expected in September to a near five-year low, adding to concerns that global growth is cooling fast unless governments take bolder measures to shore up their economies.While much of the decline was due to falling prices for food, fuel and other commodities, which are benefiting consumers globally, the data also pointed to broad weakness in the world's second-largest economy.Facing mounting risks to growth and rising risks of deflation, ...
Vietnam's trade deficit seen at $582mn in Sept-customs HANOI: Vietnam posted a trade deficit of $582 million in September, slightly below an initial government estimate of a deficit of $600 million, Vietnam Customs said on Wednesday.In August, Vietnam posted a trade surplus of $1.07 billion, according to official data.Exports in September dropped 4.8 percent from August to total $12.634 billion, while imports rose 8.3 percent from the previous month to $13.216 billion, the Finance Ministry-run Customs Department said on its website .Earlier this ...
Poland's unemployment might fall in Oct, says labour minister WARSAW: Poland's unemployment rate might fall in October below the 11.5 percent estimated for September, said Polish labour minister Wladyslaw Kosiniak-Kamysz on Wednesday."Considering the number of new job offers and favorable weather conditions, a slight fall in unemployment rate to 11.4 percent is possible in October," Kosiniak-Kamysz told Reuters.Kosiniak-Kamysz also said he saw the unemployment rate at around 12 percent at the end of 2014. Copyright Reuters, 2014 ...
UK jobless rate falls again, recovery shows signs of cooling LONDON: Britain's strong labour market recovery is showing signs of cooling, even as the unemployment rate once again fell more than expected in the three months to August.Job creation was its weakest since the spring of last year and there was a sharp slowdown in the pace at which the number of people claiming unemployment benefit is falling.Workers' earnings again failed to keep pace with inflation, Wednesday's Office for National Statistics data showed, keeping falling ...
Ukraine trade surplus for goods rises to $1.6bn in Jan-Aug KIEV: Ukraine's trade surplus for goods rose to $1.166 billion in the first eight months of this year from $880 million in January-July, the state statistics committee said on Wednesday.This contrasted with a $7.324 billion deficit in January-August 2013.After some years in deficit, Ukraine has swung to a goods trade surplus this year due to a fall in imports mainly because of a gas pricing row with Russia and a 40 percent depreciation of its ...
US mortgage applications rise in latest week: MBA NEW YORK: Applications for US home mortgages rose last week as interest rates dropped to their lowest level since June 2013, an industry group said on Wednesday.The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 5.6 percent in the week ended Oct. 10.The MBA's seasonally adjusted index of refinancing applications rose 10.6 percent, while the gauge of loan requests for home purchases, ...

 



 
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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 $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln