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Canada statement prefigures likely early election

Location:

CANADA

The government expects a CAD381bn (USD297.5bn) deficit for fiscal year 2020-21 (ending March 31). It also promised a CAD100bn stimulus package from calendar 2021, in further…

Creditors will monitor Greek social spending closely

Location:

GREECE

EU budget surveillance.

The great GDP contraction may herald huge crowding out

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INTERNATIONAL

Economic stimulus schemes and gaps.

Low oil prices set to accelerate Gulf subsidy reform

Location:

GULF STATES

The sharp drop in oil prices to around 50 dollars, half their average level last year, has forced a serious fiscal rethink among the six Gulf Cooperation Council (GCC) states, who…

Turkey must reform structurally to meet fiscal targets

Location:

TURKEY

The draft foresees a central administration budget deficit of 80.6 billion lira (14.3 billion dollars) or 1.8% of GDP. Maintaining fiscal discipline would bolster international…

Mexico’s Pemex will retrench in a bid to survive

Location:

MEXICO

While such losses are enormous, they are far less than then 41.4-billion-dollar loss seen the previous year. Pemex has recorded 17 consecutive quarters of financial losses, with…

High US unemployment means social fabric risks

Location:

UNITED STATES

Unemployment insurance claims have risen sharply during the pandemic. The Labor Department will release its latest data later today: total claims are likely to involve 30 million…

Russian economy edges into recovery phase

Location:

RUSSIA

Positive signs are still thin on the ground, but a modest recovery in demand is apparent. Oil export figures are less bad than they could have been, and natural gas sales are…

Deteriorating external environment is main Greek risk

Location:

GREECE

ND development plan.

South African lockdown easing should reduce hardship

Location:

SOUTH AFRICA

The re-opening comes despite an infection rate that is expected to peak only later this year.