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#1 09-08-2018 11:57:34

Date d'inscription: 18-07-2018
Messages: 57

"And outside the OECD, weakening currencies mean t

MADRID Thon Maker Bucks Jersey , Feb. 25 (Xinhua) -- Spanish Prime Minister Mariano Rajoy on Wednesday repeated his prediction that his country would see its gross national product (GNP) grow by 2.4 percent during the current year.

Rajoy had made his prediction, which is well above those of the International Monetary Fund (IMF) or the Bank of Spain, during his speech at the state of the nation debate in the Spanish Congress on Tuesday.

Rajoy's comment was roundly criticized by opposition speakers, who accused him of giving a view of Spain which didn't exist, and of electioneering in a year when Spain will see four different elections, including local, regional and general elections. Nonetheless Ray Allen Bucks Jersey , the Spanish Prime Minister reaffirmed his assertion early in the second day of the debate.

He said his prediction was "reasonable," and reiterated that his People's Party aimed to create over a million jobs during its next legislature.

"We have to be ambitious and take decisions which will create employment...Things are going to improve," said the Prime Minister, who added that "external factors," such as the low price of oil, would help Spain's economic recovery and give a boost to the export market.

He admitted that predictions for growth in the rest of Europe were not good and this could be a contributing factor in his country's economy, but highlighted that Spain did not just depend on the EU as a market.

"Exports have risen to other areas of the globe Rashad Vaughn Bucks Jersey ," he commented.

On Wednesday, Rajoy also discussed the current situation in Greece, where the left-wing Syriza party, which has close links with the Spanish party, Podemos, won the recent elections.

"We want Greece to do well, but for them to fulfil their obligations Oscar Robertson Bucks Jersey ," said Rajoy, whose government is thought to have been in favor of toeing a hard-line in the recent EU negotiations with the Greeks over their debt extension.

"Greece's debt to the EU is practically the same as the country's GNP," he commented, adding the Greeks had to "play by the rules of the game."

LONDON, Feb. 11 (Xinhua) -- Lower oil prices will fail to spur global economic growth, though they will benefit some net oil importers, said Moody's in its quarterly Global Macro Outlook report released Wednesday.

The international credit rating agency is maintaining its growth domestic product (GDP) growth expectation of the G20 economies at 3 percent each year in 2015 and 2016 Mirza Teletovic Bucks Jersey , a figure which remains largely unchanged from its previous estimation in November.

The United States and India will profit from lower oil prices, Moody's forecast, with growth of 3.2 percent and 2.8 percent in 2015 respectively. The prevailing favorable economic environment in both countries will encourage consumers and companies to spend part of the gains in real incomes stemming from lower energy prices, the report said.

In the euro area, Japan, and Brazil, as well as some other net oil importers in the G20 Matthew Dellavedova Bucks Jersey , however, are "unfavorable economic environments" for the oil prices drop to have a positive effect, due to high unemployment and resurgent political uncertainty in some euro area countries and tighter monetary and fiscal policy in Brazil which would offset the positive effect of the lower energy prices.

The credit rating agency expected the euro area and Japan's GDP growth to be below 1 percent this year, before rising slightly above that mark in 2016, while the average economic growth from 2014 to 2016 in Brazil is predicted to be around zero.

Oil producing economies among the G20, particularly Russia and Saudi Arabia, will be hit by the oil prices slump. It forecast a "sharp recession" in Russia to last until 2017.

On Tuesday Malcolm Brogdon Bucks Jersey , Maria van der Hoeven, executive director at International Energy Agency (IEA), said although there are undoubtedly economic benefits to be expected from lower oil prices, those may be partly offset by the deflationary environment of some of the largest Organization for Economic Cooperation and Development (OECD) economies.

"And outside the OECD, weakening currencies mean that lower prices in U.S. dollars will not necessarily seem that much lower to end users in domestic currencies," she said at International Petroleum Week happening now.

Moody's forecast is based on the assumption that Brent oil prices will average 55 U.S. dollars per barrel in 2015, rising to 65 dollars per barrel in 2016.

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