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Lusa - Business News - Angola: Govt reducing striking workers' pay an exercise in intolerance - unions
Luanda, March 27, 2024 (Lusa) - The three trade union centres involved in the first phase of a general strike in Angola on Wednesday criticised...
Lusa - Business News - Portugal: Search for missing French couple in Madeira on hold due to weather
São Vicente, Madeira, Portugal,March.27,2024(Lusa)- The search for the missing tourist couple on the north coast of the island of Madeira has been suspended since Tuesday...
Lusa - Business News - Portugal: Out-going PM Costa leaves next government with fiscal 'leeway'
Lisbon, March.27,2024(Lusa)- Portugal's out-going prime minister said on Wednesday that the budget surplus of 1.2% achieved in 2023 did not come out of the blue...
Lusa - Business News - Portugal: Alenjejo quarry road collapse case delayed until October
Évora, Portugal, March.27,2024(Lusa)- The start of the trial in the case of the collapse of a quarry road in Borba, in the district of Évora,...
Lusa - Business News - Cabo Verde: Hotels break accommodation records
Praia, March.27,2024 (Lusa) - Cabo Verde's hotels broke the record for guests in 2023, surpassing one million, the National Statistics Institute (INE) announced on Wednesday...
CNA - توقع بنمو الناتج المحلي الإجمالي لقبرص بنسبة 2.4% في عام 2024
قالت وكالة التصنيف مورنينغ ستار دي بي آر اس، أنه يتوقع أن يتوسع الناتج المحلي الإجمالي الحقيقي لقبرص بنسبة 2.4% هذا العام، وذلك بعد مراجعة هامشية لتوقعاتها في كانون الأول/ديسمبر 2023 والتي كانت 2.5%.
قامت وكالة التصنيف الكندية برفع توقعاتها لعام 2025 بشكل كبير، ...
Lusa - Business News - Portugal: TAP privatisation should not be done 'under pressure' ex_PM Costa
Lisbon, March.27,2024(Lusa)- Portugal's outgoing prime minister said on Wednesday that it would be "very positive" if the privatisation of TAP were carried out "without pressure"....
CNA - Petroleum products sales up 7.1% annually in February
The total sales of petroleum products amounted to 115,421 tonnes in February 2024,recording an increase of 7.1% compared to February 2023, according to data published...
CNA - وزير الدفاع يتبادل مع سفيرة فرنسا وجهات النظر بشأن التعاون
ناقش وزير الدفاع فاسيليس بالماس وسفيرة فرنسا لدى قبرص سالينا جرينيه كاتالانو اليوم الأربعاء،التعاون بين فرنسا وقبرص ومبادرات الاتحاد الأوروبي في مجال الدفاع.
وفقاً لما نشرته سفارة فرنسا في قبرص على المنصة"X"،أنه تم توجيه دعوة للوزير بالماس لزيارة الفرقاطة الفرنسية "كوربيه" التي رست في ميناء لارنكا....
Lusa - Business News - Macau: Hotel establishments host record number of guests for February at 1.22M
Macau, China, March.27,2024(Lusa) - Macau's hotel establishments welcomed more than 1.22 million guests in February, setting a new monthly record for a second consecutive month,...
Lusa - Business News - Portugal: Lisbon stock market trading higher, led by Mota-Engil; index up 0.07%
Lisbon, March 27,2024 (Lusa) - The Lisbon stock market was trading higher on Wednesday morning, with Mota-Engil shares leading the gainers, rising 1.84% to €4.97....
Lusa - Business News - Portugal: Pilot project to assess health of country's bees using 5G mobiles, AI
Lisbon,March.27,2024(Lusa)- Portugal's beekeepers can now try out a new solution based on the fifth generation mobile service of operator NOS and on artificial intelligence (AI)...
Lusa - Business News - Macau: Imports from Portuguese-language nations down 17% 'due to Lunar New Year
Macau, China, March 27, 2024 (Lusa) - Macau's imports of goods from Portuguese-language countries in February were down 17.2% on the same month in 2023,...
Lusa - Business News - Portugal: Consumer confidence indicator at highest level in over two years - INE
Lisbon, March 27,2024 (Lusa) - Portugal's official consumer confidence indicator increased between December and March, reversing the downward trend seen in the previous four months...
Lusa - Business News - Portugal: Flag carrier TAP makes record profit of €177.3M in 2023
Lisbon, March.27,2024(Lusa)- TAP achieved its highest-ever net profit last year, with a profit of €177.3 million, while revenues exceeded €4 billion for the first time,...
Lusa - Business News - Mozambique: SADC pullout from Cabo Delgadato to force 'repositioning' - analysts
Maputo, March 27, 2024 (Lusa) - The planned withdrawal from Cabo Delgado province, in northern Mozambique, of a Southern African Development Community (SADC) military mission...
Lusa - Business News - Portugal: National carrier TAP profit all but triples to €177M .on €4B turnover
Lisbon,March 27,2024(Lusa)-Portugal's national airline, TAP, achieved its highest ever net profit last year, at €177.3 million, while revenues exceeded €4 billion for the first time,...
CNA - نجاح عالمي للفيلمين القبرصيين القصيرين 'المنطقة العازلة' و'تاكسي'
حقق الفيلمان القبرصيان القصيران 'المنطقة العازلة' و'تاكسي' نجاحاً عالمياً وحصلا على جوائز.
ذكر بيان صحفي صادر عن وزارة الدولة للثقافة يوم الأربعاء أن الفيلم القصير للمخرج سافاس ستافرو "المنطقة العازلة" حاز على جائزة أفضل فيلم قصير في مهرجان الفيلم اليوناني في برلين وأنه فاز بجائزة نقدية...
CNA - الرئيس خريستوذوليديس يستقبل الرئيس الإستوني في القصر الرئاسي
يستقبل رئيس الجمهورية نيكوس خريستوذوليديس في القصر الرئاسي صباح اليوم الأربعاء الرئيس الاستوني آلار كاريس، الذي يقوم بزيارة رسمية لقبرص تستغرق ثلاثة أيام.
يعقد الرئيس خريستودوليدس ونظيره الإستوني بعد مراسم الترحيب اجتماعاً خاصاً، يليه محادثات مطولة بين وفدي البلدين ثم تصريحات للصحافة. ...
Lusa - Business News - Portugal: Top Newspaper and news magazine headlines on Wednesday, 27 March
Lisbon,March.27,2024(Lusa)-The chaos in parliament as right and far-right parties fall out is on most of the front pages of Portugal's papers on Wednesday. ...
Lusa - Business News - Equatorial Guinea: Statistics institute sees 2021 return to growth, unlike IMF




Malabo, April 6, 2021 (Lusa) - Equatorial Guinea's gross domestic product is set to swell by 2.8% in 2021, according to the national statistics institute, in a release that contains data indicating that the economy has been shrinking since 2016.
"It is expected that in 2021 the national economy will achieve a positive growth rate due mainly to the increase in gas production and the gradual recovery of some activities in the tertiary sector, compared to 2020," states the National Institute of Statistics of Equatorial Guinea (INEGE) in the release, which was published on Monday.
The release contained final macroeconomic data for 2018, estimates for the years 2019 and 2020 and forecasts for 2021.
"Oil Gross Domestic Product (GDP) is expected to register growth of 4.7% and non-oil 0.5%," the document states.
In May 2019 the government sent information to the International Monetary Fund assuring it that the country had emerged from economic recession in 2017, recording growth of 7.3% that year and then 3.4% in 2018.
However, the IMF has said that it expects the economy to keep shrinking until 2023, having done so since 2015, with positive growth of 1.5% forecast only in 2024.
According to the final figures for 2018, presented on Monday by the INEGE's director-general, Ricardo Nsue Ndemesogo, the economy that year shrank by 6.2%, after it in 2017 shrank by 5.7%.
"The drop in hydrocarbon production, combined with the reduction in public expenditure, led to a contraction of GDP in real terms by 6.2%, with oil GDP falling by 12.4% and non-oil GDP increasing by 2.9%," the release quotes him as saying.
For 2019, according to the same official, economic growth is estimated to have shown a slight improvement, with GDP shrinking by around 6.0%, as oil GDP shrank by 9.3% and non-oil GDP by 2.0%.
For 2020, the INEGE estimates an economic contraction of 4.9% The institute had previously forecast negative growth of 5.8% to 8.9% for the economy, which is highly dependent on hydrocarbons, citing the effects of the pandemic on the global economy and demand for oil products.
"However, despite an unfavourable international situation (with the price of crude oil at $41.3 per barrel, or a 32.8% decrease), the Ministry of Mines and Hydrocarbons managed to motivate companies in the sector to maintain their investments, allowing crude exports to recover by 0.2%, compared to 5.5% in 2019," the INEGE points out.
For 2021, despite the continued impacts of the pandemic, the institute forecasts an economic upturn, based on an expected increase in the price of crude oil, the ongoing vaccination programme and the launch of the first phase of the gas exploration project in the Alen field.
It also predicts a positive impact from the increase in public spending projected in the budget, with current spending set to rise by 18.1% and investment spending by 14.5% compared to 2020.
The IMF in January announced that it would review its financial assistance programme for Equatorial Guinea due to the "profound impact of the crisis", which had prevented any disbursements in 2020 and postponed its first review of the programme until this year.
Equatorial Guinea had agreed a financial rescue programme at the end of 2019 to help rebalance the economy after several years of economic recession, but received only $40 million (€33 million) with the signing of the agreement in December that year.
The lack of disbursements in 2020 relates, according to a report in the London-based publication The Economist, with the rejection of the country's application to join the Extractive Industries Transparency Initiative - a global standard for the good governance of oil, gas and mineral resources - due to lack of information.

CFF/ARO // ARO.
Lusa


Agency : LUSA

Date : 2021-04-07 10:11:24







 

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