Economy

The world economy kicks off 2021 with record high debt levels that will slow post-coronavirus recovery and could destabilize some countries, the Institute of International Finance (IFF) warned.

The Russian economy could pick up faster than expected, the country's Central Bank Head Elvira Nabiullina stated on Friday (Dec. 18). "We expect a stable restart of recovering growth next spring," Nabiullina told TASS news agency.

Countries around the world are re-imposing painful Covid-19 restrictions on public life and that’s a “major downside risk” for the fourth quarter, according to Swiss banking giant UBS.

The European Council on Tuesday (Oct. 6) decided to add Anguilla and Barbados to the EU list of non-cooperative jurisdictions for tax purposes.

The UK has officially entered a recession as the economy shrunk by a record 20.4% between April and June, when the Covid-19 lockdown measures were tightest.

Saudi Arabia's foreign reserves fell again in April, as the kingdom's sovereign wealth fund spent overseas.

The European Union will see its economy contract by -7.4% this year, entering its deepest recession, the European Commission said Wednesday (May 6). Inflation is forecast at 0.6% while the unemployment rate is forecast to rise to 9%. 

Stocks have plummeted around the world  in response to the global coronavirus crisis, as the pneumonia-like disease spread across more than 100 countries and infected well over 100,000 individuals. The S&P 500 closed in a bear market last week, thus ending the longest

Vietnam gained a trade surplus of $11.12 billion in 2019, according to the latest statistics from the General Department of Customs.

The Eurozone recorded a €28 bn surplus in trade in goods with the rest of the world in October 2019, compared with +€13.2 bn in October 2018, Eurostat reported on Tuesday (Dec. 17). The figure is above expectations.