Wed, November 06, 2024

Economy

Bank of Israel Indicates More Interest Rate Hikes Ahead

Israel’s Economy Faces 2.8% Contraction Amid Rising Inflation

Quick Look: Geopolitical instability has depreciated the shekel and strained key industries like construction and air travel. Due to high government spending, inflation has reached the upper limit of the Bank of Israel’s 1%-3% target. With ongoing fiscal challenges, wartime expenditures have driven the budget deficit to 7% of GDP. The economy is moving toward …

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Economy and tensions - iran

Iran’s Budget Deficit Doubles Under Raisi’s Leadership

Quick Look: Under President Raisi, Iran’s government budget deficit has significantly worsened, with debts to the banking system doubling. Iran’s inflation has reached historic highs. The annual inflation rate for 2024 peaking at 52.3%, severely affecting the cost of living. Essential goods and services have seen drastic price increases, with a 291% rise in gold …

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oil prices concept crude oil spilling out of a contianer, qatar

Qatar’s 2024 Economic Outlook: GDP to Rise by 1.75%

Quick Look: Qatar projected at 1.3% for 2023, rising to 1.75% for 2024 and 2025, with medium-term growth expected at 4.5%. Key drivers include non-hydrocarbon sector growth and public investments, especially in tourism and LNG projects. Launching in January 2024, aims to diversify the economy, boost productivity, and enhance climate sustainability. Qatar’s economic landscape is …

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China Less Inclined To Support The US in Ukraine War

China’s April Economic Update: Mixed Sector Growth

Quick Look: Retail sales grew by 2.3% in April, below the forecast of 3.8%. The holiday period saw a 6.8% increase, driven by home appliances and automobiles. Surged by 6.7% year-on-year, surpassing the expected 5.5%, showing manufacturing sector resilience. Retail sales in China grew by 2.3% year-on-year in April, falling short of the forecasted 3.8% …

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Turkey leads gold purchases of Q2 by 85%

Turkey Halts $7 Billion Trade with Israel Amid Gaza Crisis

Quick Look: Turkey suspends all trade with Israel, pressuring for aid flow into Gaza.  Israel seeks alternative trade routes and criticises Turkey’s leadership, affecting bilateral relations and global commerce. The dire humanitarian situation in Gaza, with 1.1 million people facing catastrophic hunger, international efforts to improve aid delivery. The sharp increase in hostile rhetoric between …

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German bank and digital currency, germany

Germany’s GDP Shrinks by 0.2%, Slowest G7 Growth Projected

Quick Look: Germany, Europe’s economic powerhouse, faced unique challenges last year, including a loss of Russian gas and spiked energy costs. Despite challenges, certain sectors, like auto production, showed resilience with significant growth. The labour market reflects gender disparity; reforms aim for full-time work and digital infrastructure to boost productivity. Germany is often seen as …

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Wibest – Indonesian: the central bank of the Republic of Indonesia

Indonesia’s Q1 GDP Growth at 5.11%, Exceeding Forecasts

Quick Look: Indonesia’s Q1 GDP grew 5.11% year-on-year, surpassing forecasts. Key drivers are government spending (20%), household spending (4.91%), and investment (3.79%). Experts predict varied growth rates, from 4.5% to 5.2%. Public spending grew 20%, and household consumption accounted for 54.93% of GDP. Challenges include high interest rates, lower commodity prices, and global growth. Indonesia’s …

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Wibest – UK Currency: The UK and EU flags in front of the UK parliament.

UK Inflation Hits 13-Month Low at 2.4%, Unexpectedly Drops

Quick Look: UK inflation hits a 13-month low at 2.4%, unexpectedly driven down by lower airfares. Bank of England may delay rate hikes, with shifting odds now favouring a rise by August. Economic signs mixed, with factory costs up but pound strength and job market stability noted. In a surprising turn of events, British inflation …

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Regional tensions and stocks, South Korea

South Korea’s Economic Turmoil in a Shifting Global Landscape

Quick Look: South Korea’s shadow banking has grown to S$85.8 trillion, with a high delinquency rate of 6.55%. Soaring debts in real estate, highlighted by Taeyoung’s restructuring and a US$66 billion government intervention. Significant funds enrich the tech sector with major semiconductor projects led by SK Hynix and Samsung. The global economy grapples with fluctuating …

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IMF Forecasts 3.2% Global Growth in 2024

Quick Look:  IMF revises the 2024 global growth forecast by 0.1%, maintaining a stable outlook amidst global challenges. Advanced economies like the US and the Eurozone show positive indicators, surpassing pre-COVID levels. Geopolitical tensions, inflation risks, and differing central bank approaches threaten forecasted growth despite potential economic drivers. The IMF emphasizes urgent reforms for sustained …

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Five superpowers ruling the world

2023/24 Global Economy: 3% Growth Amidst Conflict

Quick Look: Global Growth Projections: IMF predicts growth of 3% in 2023 and 2.9% in 2024. Geopolitical Tensions: Ongoing conflict in the Middle East escalates oil prices. Inflation Concerns: High inflation rates prompt fears of continued tight monetary policy. Energy Sector Outlook: Predictions of oil prices reaching $100 per barrel. BP’s Strategic Moves: BP aims …

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Thailand's Tourism-Dependent Economy Will Rise In Q4

Singapore-Thailand Talks Boost Digital & Green Growth

Quick Look: Thailand and Singapore emphasize digital and green economies, deep tech, and smart cities. The economic outlook for Thailand in 2024 projects growth of 2.8%-3.3%, with calls for governmental action to stimulate the economy. Ongoing EU-Thailand trade talks seek to balance economic growth with democratic principles. The partnership aims for economic resilience and innovation, …

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How Close is Russia to a Complete Default?

Russia’s 2023 Economy: Navigating Sanctions Successfully

Quick Look:  Russia’s seaborne crude oil exports surged to nearly 3.5 million barrels/day, diversifying energy markets amidst sanctions. Despite Western sanctions freezing $300 billion, Russia’s reserves reached $599 billion in 2023, ensuring economic stability. Russia’s economy stays resilient despite sanctions, aided by fiscal stimulus during COVID-19, supporting growth and military operations. Russia-China ties strengthen amid …

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