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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…

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

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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…

New Irish leader will struggle to reverse polls

Location:

IRELAND

Harris replaces Leo Varadkar, who surprisingly announced that he was stepping down ahead of local, EU and national elections. In his first speech as party leader, Harris suggested…

Eastern Europe's rate policies diverge with Czech cut

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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…

Prabowo Subianto will build party support in Indonesia

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INDONESIA

Defence Minister Prabowo Subianto won the poll comfortably, with nearly 59% of the vote. However, the parliamentary elections held concurrently went less well for him, with the…

China’s local governments will accumulate hidden debt

Location:

CHINA

Local governments’ fiscal positions have become increasingly untenable post-pandemic amid a property market downturn. Record numbers of local government financing vehicles (LGFVs…

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 income tax changes will have limited impact

Location:

AUSTRALIA

Labor’s changes reduce help for higher earners and instead prioritise workers on low and middle incomes. Parties on the political right have condemned the move, but opinion polls…