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The Latest Breaking News from Economic Growth

OMB: Deficits, growth lower in the near term, inflation up

WASHINGTON — The White House’s annual update to its most recent budget forecasts shows a brighter near-term picture for federal finances but a gloomier outlook for inflation and economic growth.

Tribune News Service

OMB: Deficits, growth lower in the near term, inflation up - Roll Call

The White House issued a brighter near-term picture for federal finances but a gloomier outlook for inflation and economic growth.

Roll Call

Erdogan’s Plan to Manage Turkey’s Economic Crisis Gets Summer Reprieve

A windfall of foreign funds arriving in Turkey and sustained interest in a state-backed deposit scheme have brought some relief for President Tayyip Erdogan's economic plan less than a year before tight elections. Erdogan's program stressing monetary stimulus, exports and economic growth sent inflation soaring when the central bank slashed…

Asharq Al-Awsat

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Tips on how to help innovative ideas get wings -- from universities to businesses

Slowed economic growth and high unemployment almost seem the norm across Sub-Saharan Africa. There are many factors that has caused this including varying skills levels, low levels of digital literacy and ageing infrastructure. Not to mention the constantly changing technologies that affect the work we do, and how we do…

The Conversation

Arab Banking Sector Overcomes COVID-19 Adverse Effects

The Arab Monetary Fund revealed that the banking sector in Arab countries has succeeded in overcoming the repercussions of the coronavirus pandemic without significantly impacting its financial institutions. The sector continued to attract liquidity and investments, which boosted Arab economic growth. The Fund added, in its Financial Stability Report in…

Asharq Al-Awsat

The Yangtze River is shrinking as drought disrupts the world's No. 2 economy

The disruption adds to challenges for the ruling Communist Party, which is trying to shore up sagging economic growth.

WEKU

Economy will grow faster in Q3 as investment, tourism return: Arkhom

Thailand's economic growth is expected to accelerate in the third quarter after a weaker-than-expected second quarter as public investment spending increases along with a recovery in tourism, the finance minister said on Wednesday.

Bangkok Post

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China's economic growth is slowing, and the government's not doing much about it

China's economy has been the largest source of growth for global GDP for much of the last two-plus decades.

Axios

State okays target for EEC

The government vows to move ahead with five-year investment plans for the state flagship Eastern Economic Corridor (EEC), aiming to drive economic growth by 5% a year between 2023 and 2027 and draw a combined investment of 2.2 trillion baht.

Bangkok Post

China cuts interest rate to shore up sagging economy

China’s central bank has trimmed a key interest rate to shore up sagging economic growth at a politically sensitive time when President Xi Jinping is believed to be trying to extend his hold on power

The Independent UK

Are we beyond limits to economic growth?

Humans are extracting more resources than the Earth can regenerate and creating more pollution than our planet can treat.

The Canberra Times

Climate change can affect economic growth of a country, reveals study

The study found that economies are sensitive to persistent temperature shocks over at least a 10-year time frame and impacts economic growth in about 22 per cent of the countries analyzed. Read further on Dynamite News:

Dynamite News

Thai growth downgraded by Citibank

Citibank has downgraded its 2022 forecast for Thai economic growth to 3.5%, from 3.6%, with next year's GDP predicted to expand by 4.5%, a fall from 4.8%.

Bangkok Post

6 ways Canadians can prepare for the upcoming recession

Although it certainly feels like it, and many people believe it, we are not in a recession yet. While a recession is defined as two successive quarters of negative GDP growth, it is essentially a period where economic growth falls significantly and unemployment rates rise.

The Conversation

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ABC News

Reserve Bank wary of cautious consumers amid falling house prices, as global economy sours

The Reserve Bank slashes its forecasts for economic growth as rate rises, house price falls and a souring global economy weigh on Australia's outlook.

The Independent UK

Truss sets out plan to ‘unleash investment and boost economic growth’

Prime ministerial hopeful Liz Truss believes her economic plan ‘will put money back into the pockets of hard-working people’.

Birmingham Post

The future of the Welsh town with the lowest economic growth in a decade

Llanelli has seen the lowest economic growth in Wales in the last decade and, while there are some good signs for the future, what that future should look like is still being decided

Asharq Al-Awsat

Saudi Non-governmental Real Estate Investment Nearly Exceeds $68b

With the qualitative leap that Saudi Arabia has achieved at the global economic level, the real estate sector is expected to lead one of the engines of the country’s economic growth in the coming period, as private sector investments have exceeded 254 billion riyals ($67.7 billion), according to recent estimations.…

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Evening Standard

‘Liz Truss has the right plan that London businesses have been crying out for’

Liz Truss’s bold and ambitious economic plan is just the remedy that we need. She knows that we need to depart from the business-as-usual economic managerialism that has led to our sluggish economic growth.

Asharq Al-Awsat

Saudi Arabia Posts Highest Economic Growth Since 2011

The Saudi General Authority for Statistics (GASTAT) revealed on Sunday that the Kingdom’s real gross domestic product (GDP) jumped by 11.8 % year-on-year (YoY) in the second quarter of 2022. The announcement countered International Monetary Fund projections that the economy will grow at 7.6% this year, the highest growth among…

Bangkok Post

CRC urges support for stimulus measures

The public and private sectors are being urged to support domestic consumption stimulus plans to boost economic growth, cash flow, and funding support for small and medium-sized enterprises (SMEs) in the retail and service industries.

Radio France Internationale

IMF warns of seven factors which leave global economy at risk of perfect storm

The International Monetary Fund has warned that seven factors are undermining growth expectations, suggesting that the worst-case scenario would cut global economic growth to 2 percent in 2023, the lowest level in over five decades.

The Hindu

Strengthening liberal democracy is essential for growth: Raghuram Rajan

The under-performance of the country in terms of economic growth “seems to indicate the path we are going on needs rethinking”, said former RBI Governor Raghuram Rajan at the All India Professionals Congress conclave

Al Jazeera

China drops reference to economic growth target amid COVID fight

Ruling Communist Party drops previous calls to reach 5.5 percent growth this year.

Reason

After 2 Consecutive Quarters of Negative Economic Growth, Is America in a Recession?

Most Americans believe so.

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People

Arkhom Termpittayapaisith

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