UK Government Appoints Experienced Economist to Budget Responsibility Committee
The UK’s pursuit of economic stability takes a step forward as Finance Minister Jeremy Hunt nominates Tom Josephs for a vital role in the Office for Budget Responsibility (OBR). Josephs’s diverse background, including his current position as Director of Private Pensions at the Department for Work and Pensions, makes him a prime candidate to join the Budget Responsibility Committee (BRC). His experience in domestic and international economic analysis and history at the OBR positions him to provide valuable insights into the country’s fiscal planning. With approval from the Treasury Committee, Josephs’s potential appointment adds a knowledgeable voice to the economic forefront.
Thailand’s New Prime Minister Pledges Swift Action on Economic Challenges
In his inaugural address to Parliament, Thailand’s new Prime Minister, Srettha Thavisin, has set a proactive agenda for addressing the nation’s economic woes. With the pandemic’s impact on the vital tourism industry and rising debt levels, he emphasized the urgency of these measures. Of particular note is the proposed 10,000-baht ($280) handout to stimulate short-term spending, though its long-term effectiveness remains a subject of debate. The government also outlined ambitious long-term goals, including bolstering international trade, supporting start-ups, and enhancing agricultural production, signaling a comprehensive approach to economic revitalization. Additionally, plans for political reforms, particularly involving the military’s role, were diplomatically addressed to ensure transparency and cooperation.
Bulgaria’s Path to Strengthening the Economy and Embracing Sustainability
Bulgaria is on the cusp of a historic transformation as it strides towards adopting the euro and joining the Eurozone. With a thriving banking system and a strategic focus on sustainability, the nation is primed to unlock new opportunities and propel its economy forward. As Bulgaria prepares to embrace the single European currency, it sets its sights on a greener future and accelerated recovery. Discover how euro adoption promises to revolutionize Bulgaria’s economic landscape, empower businesses, and foster a more sustainable society.
Taiwan seeks to reassure on TSMC commitment to island despite U.S. investment
Taiwan’s economy minister said on Wednesday that the island remains chipmaker TSMC’s most important production base after the company announced it would more than triple planned investment at its new Arizona plant to $40 billion.
Exclusive: China set to fine Ant Group over $1 billion, signalling revamp nears end-sources
Chinese authorities are poised to impose a fine of more than $1 billion on Jack Ma’s Ant Group, said six sources with direct knowledge of the matter, setting the stage for ending the fintech company’s two-year long regulatory overhaul.
Sri Lanka announces budget aimed at clinching IMF deal, sees recovery by end-2023
The crisis-hit Sri Lankan economy can turnaround by end of 2023 if budget policies, which are not limited to the International Monetary Fund’s recommendations, are followed, President Ranil Wickremesinghe said in the budget speech on Monday.
Factbox: What is in France’s new inflation-relief package
The French government is set to present a much-awaited package of inflation-relief measures on Wednesday in a first test of its ability to pass sorely needed legislation since it lost control of parliament.
EXCLUSIVE Germany to overhaul laws to allow energy bailouts – sources
Germany’s government will have the power to take stakes in utilities and impose emergency levies on consumers under proposed legal changes now under discussion, three sources told Reuters, as Berlin moves to beef up energy security.
Singapore announces 2022 budget proposals
Following are some excerpts taken from Singapore’s 2022 budget proposals announced by Finance Minister Lawrence Wong to parliament on Friday.
Japan raises FY2022 GDP growth estimate amid risks to outlook
Japan upgraded on Thursday its growth projections for the next fiscal year starting in April, saying it expected gross domestic product (GDP) to hit a record even amid risks from the Omicron variant and supply constraints, Cabinet Office officials said.
