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The Latest Breaking News from Economic Growth

Fighting for survival as UK PM, a chastened Truss changes course again

It was a bruising meeting with her Conservative lawmakers this week that finally shook British Prime Minister Liz Truss's earlier unwavering faith that she could weather the market fallout from her radical economic growth plan.

Reuters

Ditching Truss would be ‘disastrously bad idea’, says ally Cleverly

Foreign Secretary James Cleverly said the Government is focused on getting economic growth despite the market turbulence.

The Independent UK

Prior to Industrial Revolution, global living standards were very low, says economic historian Jared Rubin

Britain industrialised first, and several other nations in Western Europe and North America followed soon thereafter, says Jared Rubin

The Hindu

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IMF Confirms Saudi Economy’s Growth Forecast in Coming Years

The International Monetary Fund (IMF) confirmed its economic growth forecast for Saudi Arabia for the current year at 7.6 percent, the exact forecasts for July and April. Earlier, the Fund increased its expectations twice for the Saudi economy in 2022, making the Kingdom the only country among the G20 whose…

Asharq Al-Awsat

Public service broadcasting is facing an existential threat – former ITV chairman

Sir Peter Bazalgette delivered a speech discussing the future of public service broadcasters.

The Independent UK

Indian economy doing fairly well; additional monetary tightening required, says IMF chief economist

WASHINGTON: India's economy is doing fairly well, but additional monetary tightening is required, Pierre-Olivier Gourinchas, chief economist of the IMF said on Tuesday, as the global lender trimmed its projection of the country's economic growth in 2022 to 6.8 per cent.

The Times of India

IMF cuts India's GDP forecast to 6.8%; warns global economies, says 'worst yet to come'

NEW DELHI: The International Monetary Fund (IMF) on Tuesday slashed India's economic growth forecast to 6.8% for 2022.

The Times of India

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Liz Truss dreams of growth – but even if she pulls it off, it won’t help Britain

Incomes have stalled while the rich get richer. It’s clear the obsession with GDP has to change, says the University of Sheffield’s Michael Jacobs

The Guardian - UK

RMT chief Mick Lynch hits back at Liz Truss following her attack on unions

‘Everyone believes in economic growth, otherwise the economy doesn’t move forward. But what they mean by economic growth is the rich keep getting richer and working people continue to have their conditions diluted in the name of profit,’ Mick Lynch said

Evening Standard

Sturgeon: It is absurd I’ve had no contact from Truss since she entered No 10

A spokeswoman for the UK Government said the Prime Minister’s priority is ‘to deliver economic growth across the union’.

The Independent UK

IMF Expects Yemen to Achieve 2% Economic Growth

The International Monetary Fund (IMF) mission expected that Yemen would achieve a modest economic growth of about two percent this year and 3.2 percent in 2023. However, the Fund called for more reforms, especially with regard to the customs dollar rate, support for the electricity sector, transparency in financial management,…

Asharq Al-Awsat

IMF warns of higher recession risk and darker global outlook

The International Monetary Fund is once again lowering its projections for global economic growth in 2023

The Independent UK

Liz Truss: this is what happens when governments pursue growth at all costs

When Chancellor Kwasi Kwarteng unveiled his mini-budget on September 23, he was making it clear that the government is prioritising economic growth over inflation – which was one reason the financial markets reacted so badly to his plan.

The Conversation

Moving on up? Just stop the pound going down, Liz

City Voices: Truss’ speech showed she didn’t understand the causes of stagnant economic growth or has a credible plan to solve them

Evening Standard

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Evening Standard

Watch: Moment Prime Minister Liz Truss’ conference speech is interrupted by Greenpeace protestors

Liz Truss’s first conference speech as Tory leader was interrupted by heckling as she battled to unite her party. She promised to steer the country through the “tempest” and “get Britain moving”. Protesters holding a flag which read “who voted for this?” were ejected from the hall after disrupting the…

The Hindu

Government ‘singularly responsible’ for India’s economic problems: Congress

India’s economic growth is expected to decline to 5.7% this year from 8.2% in 2021, the UNCTAD Trade and Development Report 2022 projected on Monday

The Independent UK

Truss and Kwarteng put on display of unity after U-turn over top rate of tax

The Prime Minister and Chancellor toured a construction site in Birmingham in an attempt to illustrate their joint commitment to economic growth.

The Conversation

A basic income grant for South Africa: more money in poor people's pockets, but at a heavy cost

Analyses of the implications of extending income support measures in South Africa, including a basic income grant, have focused on one of three things: how much it will cost, calculations about how much revenue would need to be raised (but without assessing the ripple effects), and how it might affect…

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Bangkok Post

Economic recovery likely intact: Bank of Thailand

Thailand's economic recovery is likely intact and inflation should ease next year, the central bank chief said on Tuesday. Bank of Thailand (BoT) Governor Sethaput Suthiwartnarueput was speaking to a business seminar. The BoT has forecast economic growth of 3.3% for this year and 3.8% next year.

Bangkok Post

Economy set to expand despite global recession

Thailand is expected to eke out annual economic growth of about 3% over the next two years despite a looming global recession, says Bangkok Bank economist Kobsak Pootrakool.

The Hindu

Karnataka Minister emphasises on industry-academia collaboration

Minister for IT, BT, Science and Technology C.N. Ashwath Narayan has emphasised the need for industry-academia collaboration with regard to promoting research and development and entrepreneurship so as to ensure economic growth of the country

Daily Record

Liz Truss hopes Paisley is "proud" of her amid 45p tax rate cut U-turn crisis

Appearing in a TV interview, the Prime Minister was asked if Buddies would be proud to be “associated with her policies".

Evening Standard

Tory Conference 2022: Mayor says he would not have cut top rate of tax

Andy Street suggested that history shows the huge tax breaks offered in the mini budget will fail to boost economic growth.

Daily Mirror

Tory childcare plans branded 'simply laughable' as Liz Truss eyes reforms

Liz Truss is eyeing an overhaul of the childcare system to get more parents back to work as part of her plans to kickstart economic growth

The Conversation

Three reasons a weak pound is bad news for the environment

The day before new UK chancellor Kwasi Kwarteng’s mini-budget plan for economic growth, a pound would buy you about $1.13. After financial markets rejected the plan, the pound suddenly sunk to around $1.07. Though it has since rallied thanks to major intervention from the Bank of England, the currency remains…

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