International Monetary Fund chief Christine Lagarde has urged France and other countries to push through reforms "while the sun is shining" on the global economy. In an interview with France's Le Journal du Dimanche published Sunday Lagarde said the strength of the global economic recovery had taken the IMF by surprise. "In 2017, for the first time in a long time, we revised our growth forecasts upwards whereas previously we used to lower them," she said. Global growth of 3.6 percent was both "stronger and more widely shared" in 2017, she said, noting that developed economies were now growing again under their own steam and no longer merely being pulled along by demand in emerging markets. Lagarde said the favorable climate lent itself to implementing reforms. "When the sun is shining you should take advantage to fix the roof," she said, using one of her favorite maxims. This year's global growth is on a par with the average of the two decades leading up to the global financial crisis … [Read more...] about Make reforms while sun shines on world economy: Lagarde
Economy
Quang Nam: Developing the craft village economy in combination with promoting tourism
(Cinet)- A seminar on “solutions to develop the craft village economy in combination with promoting tourism in Quang Nam” took place on October 29, in Hoi An city, Quang Nam province. The event is organised by People’s Committee of Quang Nam province in collaboration with the Institute for Tourism Research and Development (MOCST) and the Quang Nam Bank for Agriculture and Rural Development. More than 100 delegates from ministries and branches, representatives of central provinces and travel agencies participated in the seminar. Delegates focused on solutions: planning and investment; capital source; promotion and advertising; improving people’s awareness; solving labour demand and training workers; and product model and managing trademark, focusing on assisting lending rates for handicraft and fine art producers and accommodation businesses. The Quang Nam Bank for Agriculture and Rural Development, the provincial Department of Agriculture and Rural … [Read more...] about Quang Nam: Developing the craft village economy in combination with promoting tourism
Nigeria to inject 15 bln USD in ailing economy
TV screen shot Photo - Source: bbc.comIn a statement made available to Xinhua in Lagos, Minister of Budget and National Planning, Udoma Udo Udoma, said the government has also designed a fiscal stimulus strategy that will help the country to come out of its economic recession. Udoma said that the Economic Management Team had been working on a plan to generate an immediate large injection of funds into the economy. The minister said the funds would be generated through Asset Sales, Advance Payment for Licence renewals, infrastructure concessioning, use of recovered funds, among others, to bridge the funding gap. "To achieve this speedily, we will need to fast-track procedures through Presidential directives and legislation; a bill is almost ready for submission to National Assembly," he added. The minister emphasized the need for the country to spend its way out of recession through injection of large amount of money into the economy. According to him, the … [Read more...] about Nigeria to inject 15 bln USD in ailing economy
Vietnamese economy warming
NDO – 2017 can be considered as a special year as, for the first time in many years, Vietnam fulfilled and surpassed 13 socio-economic development targets, of which the GDP growth rate was at 6.81%, the highest level in nearly ten years.In addition, a stabilised macroeconomy, along with controlled inflation, a sharp increase in exports, trade surpluses, and the recovery of the industrial sector became important drivers for economic growth.According to Prime Minister Nguyen Xuan Phuc, at present, the Government can affirm that Vietnam's economy is continuing to develop strongly, achieving comprehensive results in all areas. It reached and exceeded all 13 set targets, creating an active atmosphere in the business environment and among the whole society, while reinforcing the people's trust.2017 also witnessed the spirit of innovation and startups spreading through society. The number of newly established enterprises this year reached a record of 126,859, with newly and additional … [Read more...] about Vietnamese economy warming
Islands should turn to green economy: expert
Fishermen of An Hai Commune in Ly Son Island District in the central province of Quang Ngai prepare for a fishing trip. (Source: VNA)Hanoi (VNS/VNA) - The development of green economic models on islands could help ensure sustainable residency and livelihoods, an expert has suggested.Dr Le Xuan Sinh from Hai Phong-based Institute of Marine Environment and Resources said that green economies helped improve living standards and social equality as well as reducing environmental risks and ecological deficiencies.Sinh said that people living on islands often faced disadvantages in economic conditions, healthcare, education and other public services.He said economic activities were usually spontaneous and did not follow any sustainable models. This resulted in poor quality of living standards or islanders were vulnerable to risks of natural disasters and diseases.“The disadvantages are why there is migration to the mainland. Islands often cannot attract people to live there,” Sinh … [Read more...] about Islands should turn to green economy: expert