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Economics Gazette

Economy and Business news

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November 20, 2019


Benoit Coeure

Trade wars already starts affecting the economy

The fear of trade wars, triggered by US ideas on import duties for Chinese goods, is already affecting the development of the economy. The fears affect borrowing costs and stock prices, Benoit Coeure, a member of the European Central Bank (ECB). “None of this supports economic growth or employment”, said he. “The effect of anticipated

Russian economy

Russian economy growth has slowed sharply in Q4 2017

The Russian economy growth has slowed sharply in Q4 2017, but for the entire year the gross domestic product (GDP) expanded for the first time in three years, increasing by 1.5%, according to official state statistics. Russia’s Gross Domestic Product rose in the fourth quarter of 2017 with only 0.9% yoy, after a solid expansion

Turkish economy

Turkish economy reported its strongest annual growth since 2013

The Turkish economy reported its strongest annual growth since 2013. The Turkish Gross Domestic Product (GDP) grew by 7.4% in 2017, according to official statistics. The expectations in the financial markets were slightly modest growth of 7.2%. This has been the most serious economic expansion in four years (since 2013). In 2016, the increase was

managers economy survey

Bulgarian managers remain optimistic for country’s GDP growth

Bulgarian finance directors, followed by Slovenian, have the highest optimism about GDP growth in their countries in 2018, according to a new report by Deloitte, a survey of executives from 12 Central European countries. The study includes Bulgaria, Croatia, the Czech Republic, Hungary, Latvia, Lithuania, Poland, Romania, Serbia, Slovakia, Slovenia and Ukraine. The confidence of

Philip Hammond

UK economy is developing better than expected

The UK economy is developing better than expected, according to the British Finance Minister Philip Hammond. The growth of the UK economy is expected to reach 1.4% this year, which is 0.1% higher than the current forecast. The expectations for 2019 and 2020 do not change and remain at 1.3%. The growth forecasts were downgraded

UK economy OECD

UK economy grows at the slowest pace in the G20 in 2018

The UK economy will grow at a slower pace than any other developed or developing country this year, according to the Organization for Economic Cooperation and Development (OECD). The organization raised its growth forecast for the United Kingdom’s economy to 1.3% in 2018, with a rising global recovery from the earlier forecast for 1.2%. However,

EU economy

The EU economy slightly slows expansion in Q4 2017

The EU economy expanded by 0.6% in Q4 2017 on a quarterly basis, according to seasonally adjusted Eurostat data. The figures show that the EU economy is slightly slowing its growth compared to the third quarter of the year, which rise was 0.7%. On an annual basis, the EU’s gross domestic product expanded by 2.6%

Venezuelan economy

Venezuelan economy shrunk by 13.2% in 2017

The Venezuelan economy has shrunk over the last four years, and by the end of 2017, the decline in gross domestic product has exceeded 13%. This was announced by Jose Gerra, the chairman of the Finance Committee of the National Assembly. The Venezuelan economy shrunk by 13.2% in 2017, which is more than in 2016

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