The Russian economy will contract by 5.5% in 2009, while GDP will fall by 3% in Kazakhstan and 15% in Ukraine, according to estimates by investment bank Goldman Sachs.
Bank has reduced the forecast growth from Russia, Kazakhstan and Ukraine, as the global outlook continues to deteriorate, says Bloomberg.
The three countries “have suffered on the background [...]
The Economy in the European Union contracted in the last quarter of 2008 by 1.5% compared with the similar period in the previous year, according to data from the European Statistics Institute – Eurostat.
The report of the previous quarter, gross domestic product in the EU-15 decreased by 1, 6%. Throughout the building community, the economy [...]
According to a recent statement by Barack Obama, humanity needs new financial rules to prevent abuses in the future. Obama admitted, more or less directly, that the current global financial system is rotten and corrupt and that it requires a change from the groundup to avoid the emergence of new crises.
”The world needs a [...]
Unemployment has reache 8.1% in the U.S. in February. This is the highest rate of unemployment reached in the U.S. in the last 25 years.
Americans Employers have made 651,000 people in February, inducing an advance rate of unemployment to maximum of the last 25 years, in the context in which firms face with difficulties because [...]
“Economic recession will continue until 2010 and most big risk to U.S. economy is the lack of political desire to save the financial system”, said the head of the Federal Reserve Ben Bernanke, in a television interview for CBS, Mediafax writes.
“This economic decline will be moderated and will begin to see a setback. We will [...]
Presenting economic forecasts for its member states in Berlin, the OECD predicted that significant growth in GDP would only start in the second half of 2010.
On the background of economic crisis, experts expect the possible increase of unemployment in the OECD area up to 8 million people. Current recession, which affects many Member States [...]
Suppose that printing money will save the financial system from crash. Level of indebtedness remains high, consumption may not be reanimated and the inflation is at the starting line. In a good case, the global economy may have the route of Japanese economy after 1990. In bad, we expect a new crisis, faster than [...]
It’s easy to forget just how important public financing is to stabilizing an economy. Public finances are necessary, as contributing to the achievement of tasks and functions of the state, which could not be realized without financial leverage. Methods, by which public finances fulfill this role, flow from their functions:
• Distribution function
• Control Function
The distribution function [...]
Banks go bankrupt, stock exchanges fall, and people lose their homes and jobs. There are many indirect effects that can make your life hard: inflation, a volatile exchange rate, growth rates on loans, rising prices and so on.
Look what you can do to get better with the crisis:
1. Do not dramatize. Don’t panic. Periods of crisis [...]
Don’t think that budgeting is something overly complicated – it’s just like a business plan without start and end. Here 5 steps that you can easily follow and you will no longer get to the end of the month with lots of loans, debts to all your friends and no money in your pocket.
1. [...]
Most of the time, the problem of running short on cash may not be because of your income level, but the way most of us manage our income. Taking control of your money is the solution to make your money do more for you. What is the best way to effectively take control of your [...]
