Austria 2021 Article Iv Consultation Press Release Staff Report Staff Supplementary Information And Statement By The Executive Director For Austria
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Austria 2021 Article Iv Consultation Press Release Staff Report Staff Supplementary Information And Statement By The Executive Director For Austria
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2021-09-09
Austria 2021 Article Iv Consultation Press Release Staff Report Staff Supplementary Information And Statement By The Executive Director For Austria written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-09-09 with Business & Economics categories.
Austria entered the crisis from a strong position. Prudent policies prior to the pandemic provided significant policy space. Several lockdowns helped contain the virus but significantly impaired the economy. Real GDP contracted by 6.3 percent in 2020 and declined further in early 2021. The 2021 recovery is expected to be modest; the tourism and hospitality sectors will continue to be affected. Over the medium term, growth will accelerate in 2022 and then stabilize at potential, but the output level will remain somewhat below the pre-COVID trend. Uncertainty remains high.
Czech Republic 2021 Article Iv Consultation Press Release Staff Report Supplementary Information And Statement By The Executive Director For The Czech Republic
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2022-01-27
Czech Republic 2021 Article Iv Consultation Press Release Staff Report Supplementary Information And Statement By The Executive Director For The Czech Republic written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-01-27 with categories.
2021 Article IV Consultation-Press Release; Staff Report; Supplementary Information; and Statement by the Executive Director for the Czech Republic
Austria
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Author : International Monetary Fund. European Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2016-02-12
Austria written by International Monetary Fund. European Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-02-12 with Business & Economics categories.
The 2015 Article IV Consultation discusses the key issues related to the economy of Austria. Austria has recovered from the global financial crisis, but the crisis still remains in bank and public sector balance sheets. Major banks have been striving to strengthen their capital and profitability positions amid regulatory and supervisory reforms. Despite lackluster growth, economic slack is limited as potential growth has fallen as well. The governing coalition of Social Democrats and the right-of-center People's Party holds a constructive dialogue on economic policy issues. Growth is estimated at 0.7 percent in 2015, a slight improvement over the 1⁄2 percent average in 2012–14, on the back of strengthening external and domestic demand.
Timor Leste 2021 Article Iv Consultation Press Release Staff Report And Statement By The Executive Director For Timor Leste
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2021-07-14
Timor Leste 2021 Article Iv Consultation Press Release Staff Report And Statement By The Executive Director For Timor Leste written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-07-14 with Business & Economics categories.
Although Timor-Leste has made considerable progress in many areas since its independence in 2002, it faces significant medium-term challenges. The nation has pressing development needs, young institutions, and is highly dependent on oil. Oil revenues from active fields, which have been the main source of funding for government spending, are drying up. The non-oil private sector economy remains underdeveloped and lack of good jobs and high youth unemployment are serious concerns.
Austria
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Author : International Monetary Fund. European Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2024-05-13
Austria written by International Monetary Fund. European Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-05-13 with Business & Economics categories.
Strong policy responses have helped to mitigate the impact of the recent shocks. Output recovered rapidly from the pandemic and, in response to the energy price shock, the authorities made use of available fiscal room to mitigate its impact while preserving price signals to encourage lower gas consumption and taking steps to secure access to additional gas supplies. Despite these efforts, the economy slipped into recession over the last few quarters, with high energy prices, elevated inflation, and higher interest rates weighing on output and demand. Inflation still persists above the euro-area average even as it has steadily declined since January 2023, in particular as services inflation has proved to be sticky amid high wage growth. Over the medium term, demographic headwinds pose significant fiscal and growth challenges.
Republic Of Slovenia 2021 Article Iv Consultation Press Release Staff Report And Statement By The Executive Director For The Republic Of Slovenia
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2021-05-25
Republic Of Slovenia 2021 Article Iv Consultation Press Release Staff Report And Statement By The Executive Director For The Republic Of Slovenia written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-05-25 with Business & Economics categories.
The pandemic is inflicting much suffering, which has been met with swift, substantial, and well-coordinated policy responses. The anti-crisis measures have helped preserve jobs, provide liquidity to companies and income support to the vulnerable groups. They averted a larger decline in output and kept unemployment under control. After contracting by 5.5 percent in 2020, real GDP is projected to grow by 3.9 percent in 2021 and 4.5 percent in 2022, as vaccinations help achieve herd immunity. However, risks to the outlook are large and tilted to the downside, given the epidemiological situation.
Mali
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Author : International Monetary Fund. African Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2023-06-14
Mali written by International Monetary Fund. African Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-06-14 with Business & Economics categories.
Mali has been hit by several large shocks in the past three years, including two coups d’état, the COVID-19 pandemic, acute security challenges and a cost-of-living crisis triggered by Russia’s invasion of Ukraine. A strict embargo in the first half of 2022 by regional partners restricted the government and private sector’s international economic transactions. Despite that embargo, GDP growth was estimated to be 3.7 percent in 2022. Inflation peaked at almost 15 percent in mid-2022—resulting in an increase in extreme poverty and heightened food insecurity—but has since decelerated, with inflation in March 2023 at 7.5 percent. The BCEAO regional central bank raised its policy rate to 3 percent in February 2023, a 100-basis point cumulative increase since June 2022.
Italy
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Author : International Monetary Fund. European Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2023-07-26
Italy written by International Monetary Fund. European Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-07-26 with Business & Economics categories.
Output grew robustly in 2022 despite surging energy prices on the post-pandemic recovery and fiscal stimulus. Inflation jumped and the current account fell into deficit. Employment reached new highs. Fiscal support and higher borrowing costs kept deficits large and public debt very high. Bank credit has begun to decline although loan quality continues to hold up. Italy’s National Recovery and Resilience Plan (NRRP), supported by EU financial resources, aims to boost productivity and labor force participation, which would help offset the drag on growth from the declining working age population.
Republic Of Kosovo
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Author : International Monetary Fund. European Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2021-02-17
Republic Of Kosovo written by International Monetary Fund. European Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-02-17 with Business & Economics categories.
Kosovo has been hit hard by the COVID-19 pandemic. Despite policy support, economic activity is estimated to have fallen 6 percent in 2020 on account of the combined effect of strict domestic containment measures and international travel restrictions. The fiscal deficit increased to 7.7 percent of GDP, given the large fall in tax revenues and the implementation of mitigation and recovery measures of 4.2 percent of GDP. The current account deficit is estimated to have increased to 7.5 percent of GDP mainly due to a large decline in diaspora-related inflows, most notably in tourism. Gross international reserves declined but remain adequate in part due to the purchase under the IMF’s Rapid Financing Instrument (RFI) in April 2020 and the use of other external financing. Banks have weathered the recession well to date, and the high pre-COVID19 liquidity levels and ample capital buffers bode well for the system’s stability.
Republic Of Nauru
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Author : International Monetary Fund. Asia and Pacific Dept
language : en
Publisher: International Monetary Fund
Release Date : 2020-01-29
Republic Of Nauru written by International Monetary Fund. Asia and Pacific Dept and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-01-29 with Business & Economics categories.
This 2019 Article IV Consultation with Republic of Nauru highlights that it remains vulnerable to climate change and has a narrow economic base and limited capacity. Development challenges are increased by unavailability of land and high incidence of noncommunicable diseases. Growth was stronger than expected in FY2018 but slowed in FY2019. The outlook is subdued, with growth expected to reach 2 percent in the medium term. Revenues are projected to decline, necessitating a fiscal adjustment. Risks are skewed to the downside and include the scaling down of Regional Processing Centre activity and revenues, volatile fishing revenues, climate change, and delays in fiscal and structural reforms. Fiscal adjustment is required to avoid a breach of the fiscal anchor, contain debt, and maintain the Trust Fund contributions. New sources of economic growth and income are needed to support Nauru’s development agenda. Policies should be implemented in the near term to support private sector activity, including through financial sector development, state-owned enterprises reform, and land rehabilitation. The effectiveness of education and health spending needs to be improved to meet development goals.