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Ukraine crisis threatens German balanced budget: Schaeuble BERLIN: German Finance Minister Wolfgang Schaeuble warned on Tuesday that turmoil in Ukraine could threaten Berlin's bid to produce a balanced budget next year.Schaeuble told the daily Bild that he "cannot give a guarantee" that Germany will spend no more than its revenue intake in its budget next year, as he forecast in March."No one knows, for example, how things will go in Ukraine," he said.But he said "the odds are good" for a balanced budget "and we will do everything we can to make sure that happens," said Schaeuble, who has held the strings of Germany's public purse since 2009.Germany, like much of the rest of the European Union, is heavily dependent on Russian energy and gas but has threatened to impose economic sanctions on Moscow if it further violates Ukraine's borders following its annexation of the Crimean peninsula last month.Schaeuble is to formally present plans to parliament on ...

South Korea, Australia sign free trade deal SEOUL: South Korea and Australia signed a free trade deal Tuesday which will scrap almost all tariffs within a decade while immediately lifting levies on some key exports, including South Korean cars and Australian wine.Australian Prime Minister Tony Abbott said there was "huge untapped potential" in trade between the two countries as the deal was signed, wrapping up four years of negotiations."I'm determined to build on this and I believe what we have signed today ...
NZ business confidence stays near 14-year high in Q1 WELLINGTON: New Zealand business confidence hovered around a 14-year high in the first quarter on broad-based economic growth, a private think tank said, feeding expectations that interest rates will rise steadily over the next two years. A net 52 percent of firms surveyed expected general business conditions to improve, from an upwardly revised 53 percent in the previous quarter, which was the highest since 1999, the New Zealand Institute of Economic Research said in its ...
German govt projects 2015 GDP growth of 2.0pc BERLIN: The German government forecasts its economic growth will accelerate to 2.0 percent in 2015 after gross domestic product expands by a projected 1.8 percent this year, according to an internal report for the European Commission obtained by Reuters. "The German government expects a real increase in gross domestic product of 2.0 percent for the year 2015 and thus further strong growth," the government's report for the European Commission reads. For the period 2016 to ...
China allows corn imports from Brazil from start of April BEIJING: China, the world's second-largest corn consumer, has allowed imports of the grain from Brazil from the start of this month, Chinese quarantine authorities said on Tuesday.The government of Brazil, the world's No. 2 corn exporter, flagged the move late last year, but the start date was not revealed at that time.China mainly imports corn from United States, but shipments from the country have been curbed after officials turned away about 1 million tonnes due ...
Japan posts first current account surplus in five months TOKYO: Japan posted its first current account surplus in five months in February, helped by a narrower trade deficit and higher returns on investment abroad, government data showed Tuesday.Japan logged a surplus of 612.7 billion yen ($5.9 billion) in February, down 5.7 percent from the surplus the year before, but a reversal of a deficit of 1.59 trillion yen in January.The monthly trade deficit shrank by 1.4 percent on-year to 533.4 billion yen as exports ...
Britain's Osborne unveils Brazil investment push RIO DE JANEIRO: British finance minister George Osborne unveiled plans Monday to ramp up exports to Latin America, as he embarked on a visit to World Cup and Olympic hosts Brazil.Despite the Latin American giant of some 200 million being the world's seventh-largest economy, Brazil was the destination of just one percent of British exports last year -- leaving Britain trailing behind EU neighbors Germany, France and Italy."For decades, we have not been exporting enough ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln