Finance & Economics | WPN World People News

Gaza has seen conditions steadily deteriorate over the last two decades, leading to collapsing of the economy and basic social services. While additional cash inflows are urgently needed to bring relief to the difficult living conditions, a lasting recovery depends on a concerted strategy to revive the Gaza economy through access to external markets and expansion of commercial activities.

MEPs have set out their position on the next long-term EU budget, which should finance new priorities as well as make up for any shortfall caused by Brexit.

On March 14, 2018, the Executive Board of the International Monetary Fund (IMF) approved a new three-year arrangement under the Extended Credit Facility (ECF) for Burkina Faso for SDR 108.36 million (about US$157.6 million or 90 percent of Burkina Faso’s quota) in support of the country’s economic and financial reform program.

“We cannot expect more from Europe without giving more to Europe”, he said, backing Parliament’s position on the multi-annual financial framework (MFF). “Portugal is ready to increase its contribution” to the budget, he told MEPs.

The Indian economy is set to revert to its trend growth rate of 7.5 percent in the coming years as it bottoms out from the impact of the Goods and Services Tax (GST) and demonetization, a new World Bank report says.

Political groups condemned US plans to impose new tariffs on steel and aluminium imports, on “national security” grounds, as unjustified. The debate showed wide support among MEPs for seeking a peaceful solution with the US and together tackling the underlying causes of global steel overcapacity and unfair trade practices by certain countries.

The Internal Revenue Service announced on Mar 13 it will begin to ramp down the 2014 Offshore Voluntary Disclosure Program (OVDP) and close the program on Sept. 28, 2018. By alerting taxpayers now, the IRS intends that any U.S. taxpayers with undisclosed foreign financial assets have time to use the OVDP before the program closes.

The Internal Revenue Service urged taxpayers to remain vigilant in protecting their personal and tax information on Mar 13. Scams and schemes using the IRS as a lure can take on many variations, so practicing personal information security is vital.

The Canadian Taxpayers Federation (CTF) released documents obtained from the federal government through Access to Information that show foreign oil is getting a free emissions pass from the federal government – one that is costing taxpayers billions of dollars.