Tag Archives: GDP

Debt repayment and payment of interest should be channeled from tax revenues Kampala, Uganda | THE INDEPENDENT | The government remains adamant about the debt burden on the country despite now having exceeded the dreaded level of 50% of the value of the economy (GDP), according to the latest records. The …

Washington, U.S. | Xinhua | The global economy is on track to grow by 4 percent in 2021, assuming vaccination for COVID-19 becomes widespread throughout the year, the World Bank Group said in its latest Global Economic Prospects released on Tuesday. “The global economy appears to be emerging from one of …

Singapore, Republic of Singapore  | THE INDEPENDENT |   Singapore’s Ministry of Trade and Industry announced on Monday morning that based on advance estimates, the country’s gross domestic product (GDP) for the whole of 2020 fell by 5.8 percent year on year, compared to the 0.7 percent growth in 2019. For …

  Johannesburg, South Africa | THE INDEPENDENT |  The e-Conomy Africa 2020 report released today by Google and the International Finance Corporation (IFC), estimates that increased access to faster and better quality internet, and Africa’s commitment to creating the world’s largest single market under the African Continental Free Trade Area, …

New York, US | XINHUA | Developing countries need external support to ease inflated debt burden caused by the COVID-19 pandemic so as to maintain social services and secure global economic recovery, according to experts and relevant institutions. RECOVERY TAKES TIME Economic output picked up swiftly following the easing of …

   Retirement benefits sector marks improved efficiency, reduced operational costs Kampala, Uganda | THE INDEPENDENT | The retirements benefits sector is set to get a boost of close to 400,000 new members once the proposed Public Service Pension Scheme starts operating. The Uganda Retirement Benefits Regulatory Authority (URBRA) is optimistic the …

Addis Ababa, Ethiopia | XINHUA | The African Union (AU) Commission on Wednesday said that the ongoing COVID-19 pandemic has amplified Africa’s need to expand resource mobilization base. “Already African countries are reporting a reduction in tax revenues, especially from the non-digitalized sectors. The decline in the prices and demand …

Washington, US | XINHUA | The U.S. economy saw the sharpest contraction in decades between April and June as the country grappled with the fallout of COVID-19 lockdowns, indicating the depth and severity of the pandemic-induced recession. The U.S. economy contracted at an annual rate of 32.9 percent in the …

    Washington, United States | AFP | The decade of US economic expansion ended dramatically in the first quarter when GDP shrank 4.8 percent as the coronavirus hit, according to government data released Wednesday. It was the biggest decline in GDP in 12 years as the pandemic forced businesses to …

Tokyo, Japan | AFP | Japan has suffered its worst quarterly GDP contraction in more than five years, with a tax hike and a deadly typhoon taking a toll on the world’s third-largest economy. The nation’s gross domestic product in the three months to December shrank 1.6 percent from the …