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Egypt's economy will stand on firmer ground

Location:

EGYPT

Its actions included floating the currency, which triggered a major devaluation, and a 600-basis point increase in its benchmark interest rate to 27.75%. Meanwhile, the government…

Mexico’s budgetary pressures will keep growing

Location:

MEXICO

The budget deficit is increasing markedly and will probably top 6% of GDP in 2024 -- the highest level since the late 1980s -- while economic growth remains in the 2-3% range.

Turkey will reduce inflation gradually

Location:

TURKEY

Although the central bank has increased interest rates substantially since June 2023, the effects on economic activity and inflation have been limited. Prices and policy…

Kenya’s new budget targets significantly lower deficit

Location:

KENYA

After redeeming much of its USD2bn Eurobond in February, the government has effectively dispelled fears of a default. Nevertheless, it remains under pressure to consolidate public…

Eastern Europe's rate policies diverge with Czech cut

Location:

EASTERN EUROPE

The NBP is not cutting interest rates further partly because of tensions with Prime Minister Donald Tusk’s pro-EU government, following the defeat of the nationalist Law and…

Low savings limit Japanese spending and GDP growth

Location:

JAPAN

The economy slowed sharply in the second half of 2023. Consumption is lower than a decade ago, as a consequence of population ageing and insufficient savings, which reflects a…

Pakistan will be optimistic about its IMF talks

Location:

PAKISTAN

Islamabad now seeks a larger, longer-term bailout programme with the Fund. Finance Minister Muhammad Aurangzeb has suggested that a staff-level agreement on such a package could…

Australian budget offers modest pre-election spending

Location:

AUSTRALIA

The surpluses seen this year and last have proved an unexpected bonus for Labor and will enable a modest spending increase as the party prepares for the general election due by…

Outlook is mixed for Indonesian economy

Location:

INDONESIA

A key driving factor was soaring government consumption ahead of the February general election, which included the race to succeed Joko ‘Jokowi’ Widodo as president, won by…

Russia's construction boom is likely to moderate

Location:

RUSSIA

The completion of residential housing units reached a post-Soviet record of 110 million square metres. This strong expansion in construction activity was demand-led, stimulated by…