By Reuters Staff
1 Min Read
FILE PHOTO: European Commissioner for Economy Paolo Gentiloni gives a press conference on the Winter (Interim) Economic Forecast, at the EU headquarters in Brussels, Belgium February 11, 2021. Kenzo Tribouillard /Pool via REUTERS/File Photo
BRUSSELS (Reuters) - The European Commission will issue guidance “in spring” to EU governments on when it thinks European Union budget rules limiting borrowing should be observed again after they were suspended last year to help fight the effects of the pandemic.
European Commissioner for Economic and Financial Affairs Paolo Gentiloni told a news conference the gradual withdrawal of trillions of euros in national and EU support measures to the economy would have to be managed carefully to avoid a sharp rise in bankruptcies.
By Reuters Staff
3 Min Read
JAKARTA, Feb 15 (Reuters) - Indonesia has again raised the budget for its National Economic Recovery (PEN) programme, which includes its mass vaccination campaign, to now reach 688.33 trillion rupiah ($49.48 billion) its finance minister said on Monday.
Initially earmarked at 372.3 trillion rupiah, Finance Minister Sri Mulyani Indrawati has gradually lifted the programme’s budget several times. Earlier this month, she put the value at 619 trillion rupiah.
The new increase came after Southeast Asia’s largest economy last year recorded a full-year gross domestic product contraction of 2.1%, its first since 1998, which the central bank said was softer than expected.
The cost of so-called 'stranded assets' as the world moves away from fossil fuels could cause substantial falls in exporters' sovereign credit ratings in the coming decades, a new report from Fitch said on Monday.
Russia's rouble rose to a one-month high on Monday as oil prices gained, while an index of developing-market stocks scaled record highs on hopes of a stimulus-fuelled global economic recovery.