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The Latest Breaking News from GDP

Economists see a silver lining to China’s COVID chaos: better-than-expected 2023 economic growth

Banks are raising their forecasts for China's 2023 GDP growth, even as the country endures a massive COVID wave.

Fortune

GDP growth in 2022-23 seen at 7%: NSO’s advance estimates

NEW DELHI: India’s gross domestic product (GDP) growth is estimated at 7% for 2022-23 on the back of a rebound in services and farm sectors but may face strong headwinds in the months ahead due to the geopolitical situation and possible recession in several countries across the globe.

The Times of India

Czech government OKs bill for 2% GDP spending on military

The Czech government has approved a bill aimed at bringing defense spending at the required NATO goal of 2% of gross domestic product as Russia's war in Ukraine continues

The Independent UK

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German police union calls for action after New Year attacks

Germany’s biggest police union has called for concerted action to prevent a repeat of the violence toward officers, firefighters and medical personnel seen in Berlin and other cities during the New Year’s celebrations

The Independent UK

A challenging year ahead

Global economic growth in 2023 is expected to remain sluggish, following a year roiled by the war in Ukraine and soaring inflation.

Bangkok Post

Year in Review: China’s Struggle to Contain Covid Hits the Economy Hard

Lockdowns added to the country’s woes, including an ongoing housing slump and fading exports, but Beijing’s year-end pivot to living with the virus raises the prospect of a recovery in 2023

Caixin Global

India's current account deficit widens to $36.4 billion; 4.4% of GDP in Q2: RBI data

MUMBAI: Widening trade gap pushed up the country's current account deficit to $36.4 billion or 4.4 per cent of the GDP in the second quarter of the current fiscal, as per data released by the Reserve Bank on Thursday.

The Times of India

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The Healthcare Sector Needs to Lead the way on Decarbonization

The recent Lancet Countdown report on Climate Change highlighted the impact of the healthcare sector on global emissions. The report indicates that the total emissions footprint of the global health sector is 5.2% or 2.7 GtCO2e of total global emissions, while contributing to 10% of global GDP. As per Health…

The Times of India

Economic risks to watch out for in 2023

The world will end 2022 with big celebrations. Yet not because of robust economic growth, as growth this year is projected to be only 3.2% -- following the International Monetary Fund's (IMF) recent projections -- compared to 6.0% growth in 2021.

Bangkok Post

Government refuses to publish economic benefits estimate of latest Brexit trade deal

Department for International Trade says releasing an estimate isn’t appropriate

The Independent UK

Fiscal policy plans endorsed by cabinet

The cabinet yesterday approved the medium-term fiscal policy for fiscal 2024-2027, with the aim of achieving a significant reduction in the budget deficit in 2024 to ensure fiscal stability.

Bangkok Post

No signs of a slowdown here: Texas’ GDP growth surges 8.2%, and population spikes

The latest job estimates show growth has slowed in Texas, but other metrics are still pointing up – way up.

Tribune News Service

A South Korean trajectory for China's capital?

In October, the 20th Congress of the Communist Party of China endorsed another five-year term for President Xi Jinping, effectively ending the practice of limiting the presidency to two terms. It was thus also an unmistakable break with the tradition of collective leadership established in the late 1970s after the…

Bangkok Post

Give progress a chance: Embrace degrowth

Continuing to prioritise economic growth is not a recipe for being a good ancestor. Nor is it a recipe for human progress, writes Jack Santa Barbara.

Newsroom.co.nz

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Asharq Al-Awsat

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.

The Times of India

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 News Lens

Japan Steps Closer to Global Military Power

The loosening of arms exports controls and proposed increase of the national defense budget to 2% of GDP over time signal paradigmatic shifts in Japan’s security posture.

Fortune

It's time to quit capitalism's obsession with growth. Focus on 'degrowth' instead, argues a growing movement in economics

“It seems that humanity is thriving and committing suicide at the same time,” noted author Ugo Bardi.

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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…

Caixin Global

World Bank Cuts China Growth Forecasts on Property Slump, Reopening Complications

Real GDP growth is expected to slow to 2.7% this year, before rebounding to 4.3% in 2023

ABC News

Australia's economy recovered in 2022, will it crash in 2023?

Soaring inflation and aggressive central bank hikes were the theme of 2022, but will they continue with gusto in 2023? Here's what the experts think.

The Times of India

Fitch affirms India's sovereign rating on robust growth, resilient external finances

NEW DELHI: Fitch Ratings on Tuesday affirmed India's sovereign credit rating at 'BBB-' with a stable outlook, saying the rating derives strengths from a robust growth outlook and still-resilient external finances.

Asharq Al-Awsat

UAE Central Bank Sees GDP Growth at 7.6% This Year

The UAE’s central bank expects real gross domestic product growth of 7.6 percent this year from its previous forecast of 6.5 percent, citing stronger performance of non-oil sectors including tourism, hospitality, real estate, transportation, and manufacturing. In quarterly review report for the third quarter of this year, the Central Bank…

Bangkok Post

Lower public debt on the cards

Thailand's fiscal status is improving thanks to a gradual economic recovery following the pandemic, which may prompt the government to lower the ceiling of the public debt-to-GDP ratio from the current 70%, according to the Public Debt Management Office (PDMO).

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