As recession fears persist, the troubles in major industries have hurt tax revenues, turning the state’s $100 billion surplus into a deficit.
Category: Economic Conditions and Trends
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I.M.F. Lowers Growth Outlook Amid Financial System Tremors
The International Monetary Fund says a painful slowdown, which could include a recession, has become a bigger risk for the global economy.
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IMF Lowers Growth Outlook Amid Financial System Tremors
The International Monetary Fund says a painful slowdown, which could include a recession, has become a bigger risk for the global economy.
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Global Economy May Be in a ‘Lost Decade,’ World Bank Warns
The New York Times – Business:Adding to crises like the pandemic, recent stress in the banking system is a new threat to world growth, experts at the organization said.
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Meet the Xi Jinping Loyalist Now Overseeing China’s Economy
The New York Times – Business:He Lifeng’s long career in government has spanned the extremes of China’s approach, from the early embrace of small business in the 1980s to today’s tighter state control.
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Support Grows to Have Russia Pay for Ukraine’s Rebuilding
The New York Times – Business:Although U.S. officials have cautioned against seizing Russia’s reserves in foreign banks, others say it’s “crazy” not to after Moscow’s war of aggression.
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China’s Rise Relied on the West. Xi Jinping Is Turning Away.
The New York Times – Business:The Chinese leader has edged ever closer to Russia, while distancing China from countries that have helped it develop over the past four decades.
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Bank of England to Weigh a Rate Increase After a Jump in Inflation
The New York Times – Business:As policymakers assess an inflation rate that persists in double digits, as well as risks in the banking sector, analysts predict a quarter-point increase.
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U.K. Inflation Swings Upward, in a U-Turn
The New York Times – Business:Prices in Britain reversed a recent downward trend, rising by 10.4 percent in the year through February.
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The Head Spinning Reality of Venezuela’s Economy
The New York Times – Business:After years of extreme scarcity, some Venezuelans lead lives of luxury as others scrape by. The nation of grinding scarcity has increasingly become one of haves and have-nots.
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Sri Lanka, Its Economy Reeling, Is Approved for $3 Billion Rescue Loan
The New York Times – Business:The nation, having weathered negotiations with Japan, India and China, hopes the emergency funds from the International Monetary Fund will see it through its debt crisis.