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The Latest Breaking News from Economic Growth

NESDC prunes 2023 growth view to 2.7-3.7%

The government's planning unit has downgraded its economic growth forecast to 2.7-3.7% for this year from 3-4% estimated in November last year, largely attributed to the global slowdown and declining exports.

Bangkok Post

1 ETF to Continue to Avoid or Sell Short Until Further Notice

Cathie Wood’s actively managed ETF ARK Innovation (ARKK) has lost more than 40% over the past year, as its tech stock holdings have been hit hard amid broad market sell-offs triggered by rising interest rates and slowing economic growth. The fund is expected to continue its downtrend since the Fed…

StockNews.com

Q4 GDP growth slows, 2023 outlook trimmed

Thailand's economic growth slowed more than expected in the fourth quarter of 2022, as exports and manufacturing declined, but a rebound in the vital tourism sector should continue to boost the recovery this year amid weaker global demand.

Bangkok Post

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Economic growth slowed in Q4: economists

BENGALURU: Thailand's economic growth probably slowed in the fourth quarter as reduced exports and factory activity, together with tightening monetary conditions, curbed private consumption, a Reuters poll of economists found.

Bangkok Post

The RBA’s predictions are so dire it’s no wonder people are less confident than they were when the pandemic hit

To survive the next two years of economic growth as predicted without tipping into a recession would be astonishing

The Guardian - AU

Chinese provinces spent at least $51.6 billion on COVID curbs in 2022

Chinese provinces spent at least 352 billion yuan ($51.6 billion) on COVID-19 containment in 2022, according to annual budget reports from local governments, adding strains to provincial finances in a year when economic growth slowed.

Reuters

How better access to vision correction can improve the global economic outlook

New evidence suggests poor access to eye care is holding back economic growth in low-income countries.

Fortune

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2 Wholesale Stocks You Shouldn't Hesitate to Buy in 2023

The wholesale industry is poised to grow significantly this year owing to growth in e-commerce, easing supply chain disruptions, and improved economic growth outlook. Hence, it could be wise to add fundamentally stable wholesale stocks Kroger (KR) and BJ's Wholesale Club (BJ) to your portfolio this year. Keep reading….

StockNews.com

Zimbabwe’s budget plans open door for growth. But only if high interest rates don't derail them

When Zimbabwe’s finance minister Mthuli Ncube presented the national budget for 2023 to Parliament in November 2022, he placed high emphasis on a raft of initiatives designed to spur strong economic growth and unleash economic transformation. These included financing of infrastructure projects, education, health, value chains and other public investments.

The Conversation

Plan to promote jobs and economic growth in North of Scotland

Focus North event looked at sectors from space to offshore wind and tourism

Insider UK

EU tipped to avoid recession after gas crisis eases

Economic growth forecast to be 0.8% in 2023 but households still face cost of living pressures

The Guardian - UK

Taiwan Makes History With Universal Cash Payment Plan

Taiwan is giving citizens and permanent residents a one-off cash payment of NT$6,000, a step towards ensuring that the benefits of economic growth are shared by all.

The News Lens

South Africa's electricity crunch declared 'state of disaster'

South African President Cyril Ramaphosa has declared a national "state of disaster" over the country's rolling power shortages. Energy provider Eskom says its ageing coal-fired power plants cannot keep up with demand and it's been imposing scheduled cuts. The blackouts are weighing on business activity and South Africa's economic growth.…

France 24

Kenya's president wants taxes to replace foreign debt – seven ways to get there

In the run-up to Kenya’s 2022 polls, economic issues, particularly public debt and joblessness, took centre stage. The Kenya Kwanza team led by William Ruto suggested that Kenya had over-borrowed, a habit they pledged to stop. Ruto’s rivals defended the debt, insisting investment in infrastructure would spur economic growth.

The Conversation

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Reuters

Earthquakes to disrupt Turkey's growth, stretch budget as Erdogan heads to elections

Massive earthquakes in Turkey will add billions of dollars of spending to Ankara's budget and cut economic growth by up two percentage points this year, officials and economists said, as the government faces huge rebuilding ahead of tight elections.

Caixin Global

Editorial: Boosting China’s Growth Requires Addressing Fundamental Problems

Enhancing confidence and improving expectations depend on deepening reform

Bangkok Post

Indonesian economic growth rises to 9-year high

Indonesia's economic growth accelerated to a nine-year high in 2022 despite global uncertainty and a final-quarter slowdown, official data showed Monday, owing to soaring commodity prices and easing Covid-19 curbs.

Belfast Live

Co Armagh man on how apprenticeships can open doors and unlock economic growth

"There are so many different kinds of apprenticeships out there in lots of subjects and the one that suits you will come along."

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Reuters

Pakistan's Musharraf, military ruler who allied with the U.S. and promoted moderate Islam

Pervez Musharraf, the four-star general who ruled Pakistan for nearly a decade after seizing power in a bloodless coup in 1999, oversaw rapid economic growth and attempted to usher in socially liberal values in the conservative Muslim country.

The Conversation

Working for cash in hand can be a vital career step and a way out of poverty

Being paid for work in cash is often frowned upon in the UK. It can be seen as a way of avoiding tax, or cheating the system, and detrimental to economic growth.

The Independent UK

China, Hong Kong scrap cross-border travel quota, COVID test

Travel between Hong Kong and China will no longer require COVID-19 PCR tests nor be held to a daily limit as both places seek to drive economic growth

Tribune News Service

More millennials are leaving the nest to form their own households

From 2016 to 2021, nearly every state saw a spike in the number of young adults between the ages of 25 and 44 forming new households, a development with far-reaching implications for state populations, economic growth and infrastructure.

The Guardian - UK

Pursuing economic growth will kill us all in the end

Letters: I risked prison to stand up against an system that will lead to ecological and societal collapse – we must look for alternative economic models, writes Zoe Cohen

StockNews.com

3 Reliable Stocks That Could Help You Make Money in 2023

The stock market witnessed a decent rally in January, with cooling inflationary pressures reducing recession fears. However, the Fed’s attempts to bring inflation down to its 2% target could hurt economic growth. Hence, it could be wise to invest in shares of Johnson & Johnson (JNJ), Novartis (NVS), and LCNB…

Asharq Al-Awsat

Saudi Economy Grows 8.7%

Saudi Arabia registered an 8.7% economic growth in 2022, the General Authority for Statistics (GASTAT) said on Tuesday. The real GDP of the Kingdom during the fourth quarter of 2022 grew by 5.4 percent, compared to the same period in 2021. “This increase in GDP was a result of the…

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