Economy

Why currency crisis, economy worsen despite high oil prices | The Guardian Nigeria News

• 2020 fiscal deficit stands at N6.6tr as debt hits N33.1tr
• ‘FX rate may hit N700/$ before next year’
• Political industry (2023) to add more pressure, says Opeoluwa
• Naira can’t be stable without market transparency, says ex-CBN director
• Reps urges halt in free fall of naira value to dollar, other currencies

Except extraordinary measures are taken to salvage the naira, experts have warned that economy could reach the cliff sooner than expected.

The warning comes as structural challenges, coupled with transient measures ranging from insecurity, mono foreign earnings, insatiable borrowings, declining foreign investment inflows, rising capital

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Timor-Leste Economy Grapples with Dual Impacts of Pandemic and Cyclone Seroja

Dili, 10 June, 2021 – Economic activity in Timor-Leste has been substantially weakened by the impacts of a recent COVID-19 outbreak and fallout from Cyclone Seroja, according to the latest World Bank economic report for Timor-Leste, released today. However, GDP is still projected to grow by 1.8 percent in 2021, underpinned by stronger public spending.

The Report, Timor-Leste Economic Report: Charting a New Path, looks at recent developments in the country and finds that COVID-19 is spreading rapidly, despite early successes in containing the virus. Adding to these challenges is the aftermath of Cyclone Seroja, which brought flooding, landslides,

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Ag Economy Barometer declines sharply; producers remain bullish on farmland values

June 1, 2021

Ag Economy Barometer declines sharply; producers remain bullish on farmland values

The Ag Economy Barometer declines sharply; producers remain bullish on farmland values. (Purdue/CME Group Ag Economy Barometer/James Mintert)
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WEST LAFAYETTE, Ind. and CHICAGO — The Purdue University/CME Group Ag Economy Barometer saw a significant decline in May, down 20 points to a reading of 158. This marks the lowest reading for the survey since September. Producers were less optimistic about both current conditions and the future of the agricultural economy. The Index of Current Conditions dropped 17 points to a reading of 178, and

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Ireland Plans Covid Stimulus of $4.3 Billion to Revive Economy

Ireland’s government unveiled a 3.5 billion euro ($4.3 billion) stimulus plan to revive its economy as it emerges from the coronavirus pandemic.

The government will start to wind down special pandemic welfare payments for workers hit by the pandemic from September while adding additional job placements and maintaining some business supports. A temporary sales tax cut for the hospitality sector will be extended to September 2022. The government is aiming to have about 2.5 million people in work by 2024, exceeding pre-pandemic levels.

“Our core objective is to restore, and then go beyond pre-pandemic employment levels to not just rebuild,

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Six years in office, Buhari fails to deliver on economy

When the presidential campaign of the All Progressives Congress, APC, was formally inaugurated in January 2015, then candidate Muhammadu Buhari promised to tackle corruption and insecurity, and develop the economy.

Mr Buhari, a former military head of state, told members of the party at the Adokiye Amasiemeka Stadium in Port Harcourt, capital of Rivers State, that he would pick competent hands to run the nation’s economy, which he said was in poor shape.

“The fundamental issue facing this country is insecurity and the problem of economy which was being made worse by corruption. I assure you that we are going

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U.S. Economy Is Likely To Sizzle This Summer : NPR

As the pandemic retreats and summer travel starts, hotels, airlines and rental car companies are expecting a big jump in business. Travelers also may have to prepare for longer lines, higher prices.



MARY LOUISE KELLY, HOST:

Today, Memorial Day, marks, among other things, the official start to the summer travel season. And that season could be busy this year with half of all adults in the country now vaccinated and many of us looking forward to a summer vacation from the coronavirus. That is likely to mean more business for restaurants, hotels and entertainment venues this summer. It could also

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BofA, Goldman Boost Brazil Growth Bets After Solid First Quarter

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Analysts from Goldman Sachs Group Inc. and Bank of America Corp. see Brazil’s economy growing faster this year after a better-than-expected first quarter that was driven by investment and booming agriculture.

Goldman increased its growth forecast for Latin America’s largest economy to 5.5% from 4.6%, while BofA raised its projections to 5.2% from 3.4% after Tuesday’s data release by the national statistics agency.

“Concerns about the slowdown in first quarter activity were exaggerated,” David Beker, BofA’s Chief Brazil economist, said in an interview.

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BBCCoronavirus: NI economy forecast to recover from pandemic by 2023The Northern Ireland economy should return to its pre-Covid level of output by the first half of 2023, Ulster University economists have forecast.9 hours ago

BBCCoronavirus: NI economy forecast to recover from pandemic by 2023The Northern Ireland economy should return to its pre-Covid level of output
by the first half of 2023, Ulster University economists have forecast.9 hours ago… Read More

Italy Q1 GDP Revision: Economy Grew Unexpectedly on Covid Lockdown Stimulus

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Italy’s economy unexpectedly grew 0.1% in the first quarter of the year, helped by over a year of government spending to counter the impact of successive lockdowns.

Quarterly growth was revised from a previous reading that showed a contraction of 0.4%, Italy’s national statistics bureau, or ISTAT, said on Tuesday.

The figures could help bolster confidence in Italy’s economic rebound after being one of the hardest-hit European nations by the pandemic in 2020, when gross domestic product shrank almost 9%. Italian government bonds

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Services Businesses in U.S. and Europe Saw Pickup in Early May

U.S. services businesses in early May saw their sharpest increase in activity in more than a decade, according to surveys of purchasing managers released Friday.

Services-sector activity in the U.S. and Europe—which includes restaurant dining, travel and entertainment—appeared poised to continue expanding at a robust pace, with business surveys pointing to increased optimism and stronger client demand as government restrictions ease and consumers gain confidence in response to an acceleration in vaccinations.

“With businesses optimistic about the outlook, backlogs of orders rising sharply and demand continuing to pick up both at home and in export markets, the scene is set

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