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* IMF: Structural Reforms to Boost Long-term Growth * OECD: Structural Reforms Needed to Secure Recovery * IMF: Structural Reforms Vital to Strengthen Resilience * EU: Structural Reforms Needed to Spur Growth * IMF: Structural Reforms Needed to Foster Economic Growth * World Bank: Structural Reforms Needed to Reach Sustainability * OECD: Structural Reforms Are Crucial for Inclusive and Sustainable Growth * World Bank: Structural Reforms Needed to Enhance Productivity * IMF: Structural Reforms Needed to Support Growth * OECD: Structural Reforms Essential to Promote Inclusive and Sustainable Development * World Bank: Structural Reforms Essential for Sustainable and Inclusive Growth
China’s economy continues to make daily headlines for all the wrong reasons. Alternating between plunging exports, stagnant domestic demand, and the potential collapse of its shadow banking system, risks opined on in the press are wide ranging and acute. Authorities meanwhile have continued to focus on their structural reform agenda, remaining passive in their support, in stark contrast to prior cycles. Why do authorities remain sanguine as the market roils? Are they justified in doing so?
EU fiscal rules: Yesterday evening, the EU economy and finance ministers struck a deal on a new set of fiscal rules for the EU. The new rules include stricter overall limits on spending while it provides leeway for countries to invest in key EU priorities like defence and the green transition and allow structural reforms. The old thresholds of a maximum public deficit of 3% of GDP and the 60% debt to GDP remain. Countries with debt over 90% of GDP must trim it by 1 percentage point per year, while countries with debt between 60% and 90% need to make half that effort. Countries that both breach the 60% and 3% thresholds must aim at cutting deficits to 1.5% of GDP by improving the structural balance with 0.4% of GDP each year. Enforcement of the new rules will be tougher and countries that deviates from their spending plans will have to reduce spending by 0.5% of GDP per year. However, a last-minute concession won by France secured that for such countries interest payments will be excluded from the calculation in 2025-27. 16 out of 27 EU countries will not comply with either the deficit target or debt to GDP threshold next year according to the EU Commission estimates. Thus, we should expect an overall tighter fiscal stance in the EU next year. Among the larger countries this will especially affect spending plans in France, Italy and Belgium.
As part of the International Monetary Fund’s (IMF) consultation with the Philippines in December last year, the organization affirmed that the country’s economy has come out stronger, in part due to the authorities for their appropriate policy response and the recent implementation of key structural reforms to stimulate exports, spur foreign investment, and raise growth […]
Egypt has finally let the pound go, setting off a series of interconnected financial upheavals. Doubts, however, still remain over Egypt's commitment to structural reforms that it has often put off implementing, including floating the currency and pulling the state and the military back from their dominant economic role.