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The Latest Breaking News on Economy

Delaying free school meals to all primary kids branded 'shameful' by Scots teaching union

Scottish Government pledge to provide all P6 and P7 children with free school meals was put back till 2024.

Daily Record

Scotland’s international outlook ‘vital’ to the economy, says Angus Robertson

The External Affairs Secretary pledged the country will continue to be a ‘good global citizen’.

The Independent UK

'World economy is headed for a recession in 2023'

LONDON: The world faces a recession in 2023 higher borrowing costs aimed at tackling inflation cause a number of economies to contract, according to the Centre for Economics and Business Research.

The Times of India

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World economy is headed for a recession in 2023, researcher says

The world faces a recession in 2023 higher borrowing costs aimed at tackling inflation cause a number of economies to contract, according to the Center for Economics and Business Research.

Tribune News Service

Egypt Targets 5.5% GDP Growth in FY2023/24

Egypt is targeting GDP growth at 5.5% in fiscal year 2023/24, its Finance Minister Mohamed Maait said in a circular on Saturday.

Asharq Al-Awsat

Italy’s lower House approves Giorgia Meloni budget law

Italy’s lower house has approved Giorgia Meloni’s budget law, following a confidence vote in which the new prime minister secured wide backing for her economic plans.

Tribune News Service

Tunisia Seeks to Cut Fiscal Deficit to 5.5% in 2023, Led by Economic Reforms

Tunisia expects to reduce its fiscal deficit to 5.5% next year from a forecast 7.7% this year, driven by austerity measures that could pave the way for a final deal with the International Monetary Fund on a rescue package. The country has been in urgent need of international help for…

Asharq Al-Awsat

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3 Stocks That Could Easily Survive a Recession

The Fed's persistent hawkish stance is making a recession in the next year look inevitable. Given the backdrop, investors could consider investing in quality stocks UnitedHealth (UNH), PepsiCo (PEP), and Darden Restaurants (DRI) to shield their portfolios from recession blues. These stocks possess solid dividend-paying records. Keep reading….

StockNews.com

India's GDP to grow at 6.8% in current fiscal year, should prepare for headwinds: IMF

NEW DELHI: Amid persisting challenges from a gloomy global economic scenario, the International Monetary Fund (IMF) on Friday projected India to grow by 6.8% in financial year 2022-23.

The Times of India

India economic growth 'extremely fragile', needs all support, says RBI MPC member

NEW DELHI: India's economic growth is now 'extremely fragile' and needs all the support that it can get, as private consumption and capital investment are yet to pick up, RBI Monetary Policy Committee (MPC) member Jayanth R Varma said on Friday.

The Times of India

Raimondo channels CEOs' case for holiday cheer

In an interview with Axios, she says CEOs are "reasonably optimistic" about the economy.

Axios

Japan to unveil record $864 billion budget driven by military costs

Japan is set to unveil on Friday a record $864 billion budget for the next fiscal year from April, pushed up by increased military spending and higher social security costs for a fast-ageing population, according to a final draft reviewed by Reuters.

Reuters

Cloncurry childcare centre's $150k salary package not enough to lure teachers to Queensland outback

This Queensland community has struggled to attract a childcare teacher for years. Despite a new $6 million facility in the works and a generous salary package on offer, no-one is interested.

ABC News

Congress Can Reduce the Deficit by $7.7 Trillion in 10 Years

The Congressional Budget Office projects that future deficits will explode. But there's a way out.

Reason

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The Independent UK

US economy grew 3.2% in Q3, an upgrade from earlier estimate

Shrugging off rampant inflation and rising interest rates, the U.S. economy grew at an unexpectedly strong 3.2% annual pace from July through September, the government reported Thursday in a slight upgrade from its earlier estimate of third-quarter growth

Evening Standard

UK economy shrank ‘more than thought’ up to September putting it last among G7 nations

Growth has been weaker than estimated throughout much of the past year

The National (Scotland)

UK economic growth weaker than first thought, latest figures show

THE UK economy contracted by more than was first thought between July and September with growth also weaker than estimated in a grim set of official…

Evening Standard

FTSE 100 Live: Recession-bound UK economy declines 0.3% in Q3

The recession-bound UK economy contracted by 0.3% in the third quarter of the year, slightly more than originally thought.

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The Canberra Times

University of Canberra close to securing pay deal with staff

UC staff to get $1000 cost of living payment and pay rise in new agreement.

The Times of India

Indian economy likely to grow at over 7% in FY23: Arvind Panagariya

NEW DELHI: The Indian economy is likely to grow at over 7 per cent in the current fiscal year, former Niti Aayog vice chairman Arvind Panagariya said on Wednesday, while observing that the growth rate should sustain next year too provided the forthcoming Budget does not have any negative surprises.

Evening Standard

Strikes reveal Britain is getting poorer – but we haven’t run out of money

Government borrowing surged to £22 billion last month due to higher debt interest and cost-of-living payments to households. This represents the largest monthly figure for November borrowing since records began in 1993.

Asharq Al-Awsat

Oman Sees 2023 Budget Deficit at 3% of GDP

Oman is forecasting a 1.3 billion rials ($3.39 billion) deficit in its 2023 budget, or 3% of the gross domestic product, following an expected surplus this year after higher oil prices boosted revenues. State media reported the Gulf state expects revenues of 11.7 billion rials ($30.2 billion), up 10% over…

Evening Standard

Things are only going to get worse in 2023, say seven out of ten Britons amid economic gloom

Seven in ten adults expect Britain’s general economic conditions to get worse in 2023, a new poll revealed on Wednesday.

The Independent UK

Government borrowing soars to record £22bn after nearly doubling in a month

Jeremy Hunt blames Covid and Ukraine for woes, as chancellor promises to half inflation in 2023

The Guardian - UK

Teachers and social workers suffer most from ‘lost decade’ for pay growth in UK

Research shows public sector salaries have fallen significantly behind those in the private sector

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