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Trump’s growth boast in reach as factories boom, GDP could have topped 4% in best year since 2004
The Times (January 4, 2018)
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The American economy is showing signs that it could hit President Trump’s ambitious growth target after a report indicated that factories in the United States had enjoyed
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their best year since 2004. Manufacturing activity in the world’s largest economy came in well ahead of economists’ expectations last month, a closely watched
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report showed, suggesting that growth could have surged above 4 per cent in 2017, much faster than previously
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Economic indicators stay positive, LSM, exports witness growth
Business Recorder (January 4, 2018)
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ISLAMABAD: Despite challenges, the performance of various sectors of economy showed impressive growth as depicted by different economic growth indicators.
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During the first five months of the current fiscal year, the exports have witnessed a growth of 10.49 percent over the corresponding period of Fiscal year 2016-17, while
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during the month of November, the exports increased by 12.35 percent compared to the exports of November
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US aid cut worries economists; souring ties with foreign donors feared
The News by Erum Zaidi (January 4, 2018)
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KARACHI: US government’s decision to wean Pakistan off its financial aids may sour the country’s ties with international financial intuitions and could throw a
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spanner into much-needed foreign inflows, economists said on Wednesday. A former finance minister said the US decision seems to influence the various multilateral
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agencies/creditors, such as the International Monetary Fund (IMF), World Bank and Asian Development
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Turkey inflation still stubbornly high in December
Business Recorder (January 3, 2018)
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ANKARA: Inflation in Turkey eased slightly in December after reaching the highest rate in 14 years the month earlier, but remained stubbornly high at almost 12
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percent, in a continued headache for policymakers, according to statistics released Wednesday. Consumer prices rose by 11.92 percent year-on-year in
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December, the Turkish statistical institute said, down slightly from 12.98 percent in November, which was the highest
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Britain wants financial services included in EU Trade deal-Davis
Times of Malta (January 3, 2018)
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Britain wants to include financial services in a trade deal with the European Union that covers a full sweep of economic areas, Brexit minister David Davis said on
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Tuesday.Davis said that any deal that left finance out would be “cherry picking”, after the EU’s Brexit negotiator Michel Barnier cast doubt on the inclusion of
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financial services in a free-trade deal. “We are looking at the full sweep of economic cooperation that currently exists and
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FBR on target to achieve annual collection target of Rs 4013 bln this year
Pakistan Observer (January 2, 2018)
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ISLAMABAD: Federal Board of Revenue remains on track to achieve annual collection target of Rs 4013 billion. During first half of the current financial year,
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Federal Board of Revenue has recorded provisional net revenue collection of over Rs. 1722 billion as against Rs. 1466 billion collected during the same period of the
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previous fiscal year, by recording an increase of around 17.5% over the revenue collected during the
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Inflation spikes 4.6% in Dec 2017, hits 8-months high
The Express Tribune by Shahbaz Rana (January 2, 2018)
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ISLAMABAD:Â For the first time in the past eight months, the inflation rate spiked 4.6%, showing the effect of government’s policies including the increase in
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prices of petroleum products for end-consumers and levy of regulatory duty. “The impact of government’s decision to devalue the rupee against the US dollar by about
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7.2% is also expected to appear after a lag of a couple of months,” said State Bank of Pakistan (SBP) Governor Tariq Bajwa. Measured by the
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Singapore’s economy grew 3.5 percent in 2017: PM Lee
Business Recorder (January 1, 2018)
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SINGAPORE: Singapore’s economy grew 3.5 percent in 2017 on the back of improved productivity as well as a pick-up in the global economy, Prime Minister Lee Hsien
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Loong said on Sunday. Singapore’s trade-reliant economy has enjoyed a boost this year from an improvement in global demand, particularly for
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electronics products and components such as semiconductors. “Our economy grew by 3.5 percent
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Bond float not enough, Pakistan going to be IMF’s customer again
Express Tribune by Jazib Nelson (January 1, 2018)
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ISLAMABAD:Â Popular view of Pakistan’s economy was quite optimistic at the start of 2017. Positive developments including successful completion of the $6.6-billion
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International Monetary Fund (IMF) programme, decent progress on China-Pakistan Economic Corridor (CPEC) projects and emerging market status for the
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Pakistan Stock Exchange (PSX) were behind the optimism. Government officials claimed at almost every
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The making of shadow budget
The News by Mustafa Nazir Ahmad (December 31, 2017)
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The preparation of shadow budgets by opposition parties, think tanks and civil society organisations has become a norm in the developed world over the last
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quarter of a century. These alternative budgets offer analysis and perspective on what the government budget should contain in terms of spending and revenue
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generation. In short, a shadow budget offers an alternative vision to deal with the macroeconomic challenges
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Hungary’s economy projected to grow by 4.3pc in 2018
Business Recorder (December 28, 2017)
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BUDAPEST: Hungary’s economic growth is expected to come in at 4.1 percent this year, and will accelerate to 4.3 percent next year, the Economy Ministry said in a
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statement on Wednesday. The ministry said that this year’s GDP growth was largely driven by a rise in investments, due to a pick-up in housing construction
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increasing use of development funds coming from the European Union and capacity expansion by large corporates
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‘Foreign loans compromise sovereignty’ says Rabbani
The DAWN By Parvaiz Ishfaq Rana (December27, 2017)
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KARACHI: Senate Chairman Mian Raza Rabbani said on Tuesday foreign loans come with strings as lenders’ lconditions infringe upon national sovereignty. If a
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nation has a choice, then it should opt for increasing exports by promoting the indigenous industry and making it competitive, he said while addressing the 41st
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Export Awards ceremony of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI). “I’d suggest that if we have a choice
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The fall and fall of Pakistan’s economy in 2017
The Express Tribune by Arsalaan Asif Soomro (December 26, 2017)
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Whether this is due to Mr Ishaq Dar being pre-occupied during the year, trying to save himself and his boss from the aftermath of the Panama leaks, or merely
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because the anticipated growth of imports was foreseen in a naive manner, is a question that is behind us for now. With the grip on currency loosening, the
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picture alas seems to slowly be moving towards equilibrium. When the currency started slipping in December, there was no “inquiry”
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Govt. asked to announce PFC award without delay.
DAWN (December 25, 2017)
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SWABI: The Pakistan Tehreek-i-Insaf-led Khyber Pakhtunkhwa government has been asked to announce the Provincial Finance Commission (PFC) Award
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2017-18 under the Local Government Act, 2013, without further delay to give financial responsibility and authority to elected representatives of local
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bodies. The demand was made by members of Samaji Bahbood Rabita Council (SBRC) and Good Governance District Coalition (GGDC)”
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Venezuela: Economy shrank 16.5% in 2016: report
Express Tribune (December 24, 2017)
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WASHINGTON: Venezuela’s economy shrank a massive 16.5% in 2016, according to an official government filing to the US Securities and Exchange Commission (SEC).
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The oil-rich but impoverished country attributed the collapse to a contraction of 9.9% in the oil sector and 16.1% in the non-oil economy. The 150-page
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report, received on Thursday by the SEC, also reported inflation at 274.4%, and an unemployment rate of 7.5% in the calendar
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