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Tag Archives: economy

Oil prices drop as OPEC cuts forecasts for demand growth

New York, U.S. | Xinhua | Oil prices fell on Wednesday after the Organization of the Petroleum Exporting Countries (OPEC) lowered its global oil demand growth estimates for both 2022 and 2023. The West Texas Intermediate for November delivery decreased 2.08 U.S. dollars, or 2.3 percent, to settle at 87.27 dollars …

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IMF downgrades 2023 global growth forecast to 2.7 pct

Washington, U.S. | Xinhua | The International Monetary Fund (IMF) on Tuesday projected the global economy to grow by 3.2 percent this year and 2.7 percent in 2023, with a downward 0.2-percentage-point revision for 2023 from the July forecast, according to the latest World Economic Outlook (WEO) report. The global economy …

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GGOOBI: Government is not broke

Kampala, Uganda | THE INDEPENDENT | The government withheld substantial amounts of funds which were supposed to be released in the first quarter of the financial year 2022/2023, as a way of controlling the count of money in circulation, according to the Ministry of Finance, Planning and Economic Development. This fiscal …

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IMF chief highlights “fundamental shift” in global economy

Washington, U.S. | Xinhua | The International Monetary Fund (IMF) chief said Thursday there is a “fundamental shift” in the global economy, urging countries to bring down inflation, put in place responsible fiscal policy, and jointly support emerging market and developing economies. The global economy is moving “from a world of …

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