BEIJING: China’s economy posted stable growth in 2021 despite challenges including sporadic epidemic resurgences and a complicated external environment, official data showed on Monday. The country’s gross domestic product (GDP) expanded 8.1 per cent year on year to 114.37 trillion yuan (about $18 trillion) last year, the National Bureau of Statistics (NBS) said. The pace … Read more
Gross domestic product (GDP), which measures the total output of goods and services in an economy, has flaws when used to gauge the well-being of a nation’s residents. For example, to the question of whether people in the United States are better-off in 2021 than they were before the Covid-19 pandemic, the answer would be … Read more
RIYADH: Saudi Arabia’s planned 2022 budget surplus of SR90 billion ($24 billion) depends on oil prices staying at $70 to $75/barrel, Arab News quoted Jadwa, a Saudi investment bank, as saying. Brent oil was trading at $73.01/barrel at 3:53pm Saudi time on Wednesday. The Saudi Ministry of Finance announced this week it expects revenues valued … Read more
MADRID: Spain’s leftist Prime Minister Pedro Sanchez started the year with a bullish economic outlook. Months later, he faces protests, strikes and an emboldened opposition as the recovery from the pandemic slump trails other European nations. Gone is the optimism shown earlier this year when Sanchez forecast a strong comeback in 2021 for the Eurozone’s fourth-largest … Read more
DUBAI: India, China, and Russia need to fully commit to reducing emissions for a global energy transition to happen quickly, US special envoy for Climate Change John Kerry said at a conference in Dubai, Arab News reported. Speaking at the Global Manufacturing and Industrial Summit, Kerry said there is “incredible movement” from global players, as well as … Read more
The economy of Australia has dived into its first recession in nearly 30 years, as it suffers the economic fallout from the novel coronavirus. According to the details, Gross domestic product (GDP) shrunk 7% in the April-to-June quarter compared to the previous three months. An economy is considered to be in recession if it sees … Read more
India’s Gross Domestic Product (GDP) growth has slipped to a 26-quarter low of 4.5 per cent in the second quarter (July-September) of the current fiscal, data released by National Statistical Office (NSO). The GDP growth rate has now slowed for the sixth consecutive quarter with the previous low recorded at 4.3 per cent in March … Read more
