Macroeconomics

NSI: Average Annual Inflation Rate at 2,3% for September 2018 to September 2019

The National Statistics Institute on October 15 reported an increase in the prices of food and some services as at the end of September on an annual basis. On a monthly, there is a reduction.

The average annual inflation rate for the period is at 2.3%. This shows how much the Consumer Price Index has grown from September 2018 to September 2019.

Record Inflation in Venezuela

Venezuela's inflation rate was 3320 percent from January to September this year. The data was announced last night by National Assembly (single chamber parliament) Finance Committee member Alfonso Marquina. 

The country's legislature is controlled by the opposition, TASS reported.

IMF: Trade Wars Affect the Global Economy

Trade wars around the world have a strong negative impact on global economic growth. The International Monetary Fund has warned about this.

The Executive Director of the Fund Kristalina Georgieva commented that global losses could total $ 700 billion by 2020, or about 0.8% of GDP. For comparison, this is the approximate annual GDP of Switzerland.

Thomsen says previous gov’t chose austerity over reforms

Referring to the mistakes that led to the derailment of the Greek rescue program, the International Monetary Fund's European department chief Poul Thomsen said during a speech at the London School of Economics on Monday that the previous SYRIZA-led government essentially chose austerity instead of reforms.

German Finance Minister: We Have What it Takes to Deal with a Possible Economic Crisis

The German economy will be able to counteract a possible economic crisis, Finance Minister Olaf Scholz said today in an interview with the public broadcaster ARD, quoted by Reuters.

The minister, however, added that he did not expect a crisis as severe as the one that had occurred in 2008-2009.

Greek current account surplus inches down in July, tourism revenues rise

Greece's current account balance showed a slightly smaller surplus in July compared to the same month last year, as imports outpaced exports, the Bank of Greece said on Friday. 

Central bank data showed the surplus at 1.28 billion euros ($1.41 billion) compared to a surplus of 1.31 billion euros in July 2018. 

Postponing new income increases, waiving new tax cuts, recommendations of Fiscal Council president

The President of the Fiscal Council, Daniel Daianu, recommends postponing new increases of incomes / salaries, stopping the promises that generate unrealistic expectations in citizens and restructuring the state apparatus given that, according to him, the acute deficit of fiscal area is increasingly dangerous.

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