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The Latest Breaking News from GDP

France has narrowed its budget deficit, but how does it compare to other EU states?

French economists and public auditors alike breathed a sigh of relief as the national statistics agency INSEE on Tuesday published an annual report showing that the country’s 2022 budget deficit dipped below 5% of GDP. Public debt also slightly decreased. Despite these hopeful figures, France still remains one of the…

France 24

GDP, Consumer Confidence and Other Can't Miss Items to Watch this Week

Fed weeks always make for a good time with trading, and last week was no different. While the Fed Funds rate did not really move the market as it hit where it was expected with a 25 basis point increase.

Barchart

Defeating the Dictators review: prescriptions for democratic health

Charles Dunst salutes Joe Biden’s domestic spending but also points to how Trump’s sclerotic grip still hobbles the US

The Guardian - US

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Taiwan’s Housing Crisis (Part 1): Taiwan’s Housing Prices Are Among the Highest Globally but Wages Are One of the Lowest Among Advanced Countries

In countries with similar housing prices, the minimum wage is two to four times higher.

The News Lens

Is the 'Climate Time-Bomb' Really Ticking Toward Imminent Catastrophe?

Climate change is a problem, but the IPCC AR6 Synthesis Report is wrong to suggest that humanity is on the brink of catastrophic warming.

Reason

What is a wellbeing economy and what does it mean for Scotland?

ON Wednesday MSPs are set to hold a debate on Scotland’s transition to a wellbeing economy.

The National (Scotland)

NATO chief urges members to boost defence spending as only 7 hit target

NATO chief Jens Stoltenberg urged member countries to speed up increases in defence spending as new figures showed fewer than a quarter of them meeting the alliance's target.

Reuters

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Spring Airlines sees recovery in flights

Flights between Thailand and China on Spring Airlines have recovered to 50% of pre-pandemic levels and are expected to resume normal frequencies this year, aided by high demand and a forecast of 5% Chinese GDP growth.

Bangkok Post

World Bank estimates Syria's three-year earthquake recovery needs at $7.9 billion

The World Bank on Monday said the February earthquakes are expected to have caused Syria's real GDP output to contract by 5.5% in 2023, with recovery and reconstruction needs estimated at $7.9 billion over three years.

Reuters

Economic growth is not a magic wand for ending poverty

Misguided policies are hurting the poorest in society; our focus should be on reducing inequality not increasing GDP

The Guardian - UK

Why our economy is too important to leave to the experts

It's time to democratise economics and demand an economy that works for people and the planet, argues Catherine Knight

Newsroom.co.nz

Budget 2023: why the UK's fiscal watchdog does not share the chancellor's optimism

UK chancellor Jeremy Hunt confidently described his first budget of 2023 as a “budget for growth”. He went on to offer a fairly upbeat assessment of both economic performance and future prospects, arguing: “The declinists are wrong and the optimists are right.”

The Conversation

UK economy will deliver worst performance of any advanced country this year

Britain’s GDP is forecast to fall by less than previously expected, but is still behind all other major economies

Evening Standard

Weekly Must-Read: Why China Set Its 2023 GDP Growth Target at ‘Around 5%

The new leadership set what many consider to be a moderate goal despite stronger-than-expected economic activity this year and a low base in 2022

Caixin Global

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ABC News

Remittances are more than 20pc of Vanuatu's GDP, but fees to send money home from Australia are high

Pacific Australian Labour Mobility scheme worker John Firiam says sending remittances to his wife and five-year-old daughter in Vanuatu is more important than ever after the recent twin cyclones.

Daily Mirror

Troop and tank cuts going ahead despite defence spending boost, signals minister

Baroness JoJo Penn insisted: "The vision for the future of our defence that we set out in the original Integrated Review remains the vision for defence that we have set out in this country"

Evening Standard

Hunt gets back on the boring track — but where’s the vision?

City Voices: More radical thinking needed to get Britain growing

The Independent UK

UK’s tax burden on course to hit highest level since Second World War

The UK’s tax burden is expected to reach a post-war high of 37.7% of GDP in 2027-28.

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Asharq Al-Awsat

Saudi GDP Exceeds $1 Tln, Shows Kingdom’s Economy Is on Right Track

The size of Saudi Arabia’s GDP, which reached $1.7 trillion in 2016, demonstrated that the Kingdom’s economy is on the right path as it advances the implementation of Vision 2030. Vision 2030 is a unique transformative blueprint that aims to diversify and double the size of the Saudi economy, so…

AAP

New Zealand GDP down 0.6 per cent in Q4 2022

New Zealand has had a 0.6 per cent contraction in GDP in the December 2022 quarter, beginning a predicted 2023 dip a quarter earlier than expected.

Daily Mirror

'Insipid and uninspiring Budget offered botched repairs from cowboy builders'

The Chancellor claimed that he had crafted a Budget for growth. The reality is Britain remains in the economic slow lane, with GDP to shrink this year

The Guardian - UK

UK economy will take more than a year to recover to pre-Covid level, says OBR

Jeremy Hunt’s efforts to boost growth unlikely to prevent largest fall in living standards on record

Evening Standard

UK defence budget 2023: How does spending compare with other countries?

The government will commit £11 billion to the defence budget over the next five years

The Independent UK

Budget 2023: Jeremy Hunt reveals £11bn for defence spending

Brings UK military spending to 2.25% of GDP by 2025, says chancellor

The Conversation

Budget explainer: here are some ways to read between the lines on what's being reported

UK budget announcements inevitably lead to a deluge of reporting on how the chancellor’s latest plans for the economy will affect our wallets, pensions and investments, as well as the bottom lines of businesses, charities and entire industries.

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