Sudan to cut government spending, increase social spending
Sudan will cut its government spending and increase social spending, the cabinet said on Saturday, after completing a raft of rapid economic reforms this month that threaten to compound pressures on the majority of the population.
U.S. consumer spending takes breather; inflation pushes higher
U.S. consumer spending paused in May as shortages weighed on motor vehicle purchases, but the supply constraints and increased demand for services helped to boost inflation, with the Federal Reserve’s main inflation measure posting its biggest annual increase since 1992.
Taiwan proposes $7.5 bln in spending as domestic COVID-19 cases rise
Taiwan’s government proposed on Thursday an extraT$210 billion ($7.52 billion) in spending to help the economy deal with the COVID-19 pandemic, as it reported 13 new domestic cases amid a rare spike in infections that has spooked the stock market.
