Finance & Economics | WPN World People News

Malaysia’s economy remains resilient, with GDP projected to grow by 4.4 percent in 2016 and 4.5 percent in 2017, according to new economic analysis from the World Bank. The outlook reflects a gradual deceleration in private consumption in Malaysia due to softening in the labor market and continued adjustment to fiscal consolidation.

On June 22, 2016, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Bhutan.
Bhutan has made significant economic progress in recent years and the GDP per capita more than doubled during 2004-2014, rising from $1,108 to $2,612. In the aftermath of the rupee shortage episode of 2012-13, GDP growth has slowed to below 4 percent in Fiscal Year (FY) 2012/13 and FY2013/14 (July 1 – June 30).

The EU needs to update its long-term spending plan to cope with unforeseen crises such as mass migration, terrorism and youth unemployment, says the Budgets Committee in a resolution voted on Wednesday. The text is intended as an input to the forthcoming EU Commission’s proposal to revise the EU’s multiannual financial framework (MFF) for 2014-2020. The update should also tackle the recurring backlog of overdue EU payments, and look beyond 2020, add MEPs.

On June 24, 2016, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Germany.
The growth momentum has remained steady as strong domestic demand has offset weak foreign demand. Private consumption growth has been supported by the persistently strong labor market and lower energy prices, while public consumption and investment have also been buoyant.

Two years after being hard hit by the Ebola epidemic, the Government of Guinea is setting up a recovery strategy with the help of the donor community, including the World Bank whose Board of Directors approved on June 17 an International Development Association credit of $40 million to help communities cope with post-Ebola effects.

Martin Schulz

Thailand’s economy is expected to grow by 2.5 percent in 2016, after growing 2.8 percent last year. While the global economy has been weakening and exports have been slowing, strong fundamentals and ample fiscal and monetary buffers will help Thailand weather shocks, according to the 2016 Thailand Economic Monitor released on 28 June by the World Bank.

On June 22, 2016, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with the Republic of Croatia.

Malawi needs to develop a better system to mitigate agricultural shocks while continuing fiscal discipline to set itself on an economic growth recovery path in 2017. This is the message of the third Malawi Economic Monitor (MEM) titled Absorbing Shocks, Building Resilience released today by the World Bank, on 29 June.

The UK must respect the wish of a majority of its citizens, entirely, fully and as soon as possible, by officially withdrawing from the EU before any new relationship arrangements can be made, says the European Parliament in a resolution voted after an extraordinary plenary debate on Tuesday. MEPs also stress the urgent need for reforms to ensure that the EU lives up to its citizens’ expectations.