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US stimulus offers significant boost to global economy: IMF

US stimulus offers significant boost to global economy: IMF
kuwaittimes.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kuwaittimes.net Daily Mail and Mail on Sunday newspapers.

Why Malmström should be the US pick for the OECD

© Getty Images This month, a new Secretary-General of the Organization of Economic Cooperation and Development must be selected by its member states. Of the 10 candidates who stepped forward last autumn, only two remain. The choice matters a great deal, including to the United States, because of the importance of the institution. The OECD is sometimes described as a think tank, drawing on a plethora of experts in policy areas such as education, digitalization, entrepreneurship, migration, aid, trade, taxes and much more. By sharing ideas and data it can help provide solutions to the most urgent issues on the global agenda.

Government growth projections considered realistic

MONEYWEB app instead? Major concerns about plans to cut wage bill and reduce deficit. 12:00  Image: Waldo Swiegers/Bloomberg The success of this year’s budget will depend on whether government can make true on its expenditure cuts announced on Wednesday. South Africa is currently spending R2.1 billion a day on servicing its debt and our public service wage bill as percentage of gross domestic product (GDP) is the third highest in the world, slightly behind wealthy countries such as Denmark and Norway. Nicky Weimar, chief economist at Nedbank, says SA still has a “horrific” budget deficit (14%) despite the better-than-expected tax collections from October onwards.

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