Finance & Economics | WPN World People News

Improving France’s competitiveness is essential to boost the economic growth needed to create jobs and allow citizens and businesses to develop their full potential, according to a new OECD report.

The World Bank welcomes release of the initial poverty statistics from the 2011/12 Household Budget Survey by the National Bureau of Statistics (NBS). The new poverty rate for Tanzania is estimated at 28.2 per cent in 2011/12, which captures the number of Tanzanians who are not able to consume a minimum basic needs basket of goods and services.

Despite its benefits, conducting cross-border transactions remains expensive for small traders in Malawi and Zambia, costing them 62 percent more in border costs than large formal traders. While there are systems in place to facilitate cross-border trade such as the current Simplified Trade Regime (STR) which eases several customs processes, there are a host of registration and other requirements that remain in place which increase traders’ costs.

During a two-day visit to Egypt, the World Bank Regional Vice President for the Middle East and North Africa (MENA), Inger Andersen, affirmed support to the people of Egypt through continued engagement in job creation, energy sector reform, setting up social safety nets, education, transport, water and sanitation, agriculture and irrigation.

The World Bank Group (WBG) launched a new Country Partnership Strategy (CPS) for South Africa that will guide the Group’s proposed support to the country over the next three years, until 2017. Reducing inequality, promoting investment and strengthening institutions are the three pillars of the new strategy.

The Minister of Tourism and Arts, Ms. Sylvia Masebo launched the new World Bank Tourism in Africa Report, “Harnessing Tourism for Growth and Improved Livelihoods” at a colorful ceremony. The report provides strategies for Sub-Saharan African (SSA) countries to maximize the economic power of the tourism industry to increase growth and improve livelihoods through public and private sector efforts.

After negotiating through the night, Parliament and Council struck a deal on the EU budget for 2014, which also provides for remedying payments shortfalls in in the current fiscal year. MEPs ensured that victims of catastrophic flooding and drought in 2013 will be compensated, and that its priorities for 2014 in areas such as employment, research and innovation, border management and humanitarian aid are also taken on board.

Paweł Kowal

“The growth recovery to 5¾ percent in 2012/13, driven by public investment and consumption and stronger private activity in telecommunications, has been supported by a fiscal stance based on strong implementation of investment projects.

Over 17,000 families to benefit from construction of hazard-resilient houses