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Rubio Discusses Trump's Key Foreign Policy Priorities with NATO Secretary General
The call came ahead of remarks from President Donald Trump at the World Economic Forum in Davos, Switzerland, on Thursday calling for NATO allies to increase their defence spending to five per cent of their GDP.
BRICS now richer than G7: Putin
“As for BRICS, at the time of the summit in Johannesburg [in August], the ratio of the economies of the G7 countries and the BRICS countries was already in favor of BRICS in terms of purchasing power parity,” Putin said.
Poland's 2022 aid to Ukraine equals 1% of GDP: Minister
Poland has opened its borders to millions of Ukrainians since the Russia-Ukraine war and introduced a number of aid schemes, Xinhua news agency reported. Rzeczkowska told broadcaster Radio Zet on Wednesday that "the cost of aiding Ukraine is about 1 per cent of GDP, which is about 30 billion zloty ($6.9 billion)".
China to increase defence spending by 7.2%
The new GDP target was released Sunday by outgoing Premier Li Keqiang during the opening of the annual gathering of the National People's Congress (NPC), the country's rubber-stamp legislature, as Li delivered the government work report to nearly 3,000 delegates at Beijing's Great Hall of the People, CNN reported.
Resumption of China's outbound travel to boost Malaysia's GDP, says economists
The research house's economists Julia Goh and Loke Siew Ting said in a report that the boost will further support their baseline GDP growth forecast for Malaysia of 4 per cent for 2023, Xinhua news agency reported. The uplift will come through further recovery in tourist arrivals, resumption of China outbound traveling. and sustained domestic tourism demand," they said.
China to top global equity market performance in 2023: Morgan Stanley
"We see an earlier and stronger growth recovery from 1Q23 amid faster reopening, stronger housing support and tech regulatory easing, lifting 2023 GDP to 5.7 per cent and 12m USDCNY to 6.65. China is set to top global equity market performance in 2023, in our view, with structural improvement on ERP and ROE. .
EU revises growth forecast down, inflation estimate up
Real GDP growth in both the EU and the eurozone is now expected at 2.7 per cent in 2022 and 2.3 per cent in 2023, down from its February forecast of 4.0 per cent in 2022 and 2.8 per cent (2.7 percent in the eurozone) in 2023, Xinhua news agency quoted the Commission's Spring 2022 Economic Forecast which released on Monday.
Britain's GDP shrinks in March as rising cost-of-living crisis bites
"Services fell by 0.2 per cent in March and was the main contributor to the month's fall in GDP, reflecting a large decrease in the wholesale and retail trade and repair of motor vehicles and motorcycles industry," Xinhua news agency quoted the ONS as saying in a statement on Thursday.
Bank of America cuts expected US GDP growth rate
Economists at Bank of America told clients in a report that they expect US gross domestic product (GDP) to rise at an annual rate of 1 per cent during the first quarter, as "risks of a negative growth quarter are significant", Xinhua news agency quoted a CNN Business report as saying.
Afghanistan's GDP likely to drop 20% in one year: UN
The agency warned in its Socio-Economic Outlook for Afghanistan that the economic base for the poorest country in Asia has long been, too, small to support its population of 40 million, Xinhua news agency reported. "This new socio-economic assessment on Afghanistan estimates that restricting women from working could result in an immediate economic loss of up to $1 billion, or up to 5 per cent of the country's GDP," said UNDP Administrator Achim Steiner.
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