By Reuters Staff
1 Min Read
DUBAI, March 2 (Reuters) - Bahrain expects to post a deficit of 1.2 billion dinars ($3.20 billion) in 2021, state news agency BNA said on Tuesday, citing the finance ministry.
The Gulf state projected a budget of 3.6 billion dinars for 2021, with revenues expected to amount to 2.4 billion dinars, BNA said.
$1 = 0.3771 Bahraini dinars Reporting by Alaa Swilam and Davide Barbuscia Editing by Chris Reese
A slide in China shares on the back of asset-bubble warnings capped gains for an index of emerging market stocks on Tuesday, while the Russian rouble was in focus among currencies with eyes on U.S. sanctions.
South Africa's rand weakened early on Tuesday in a broad emerging market retreat as investors reassessed expectations that the U.S. central bank would maintain its quantitative easing program at the current pace.
Rising U.S. bond yields dampen investor attraction EMs already reeling from defaults, tourism hit But repeat of 2013 taper tantrum not anticipated “Real” U.S. yields still low Current account deficits mostly reversed
LONDON, March 1 (Reuters) - Just when developing economies were ready to bask in the post-COVID rebound in global growth, in sweeps a bond market blaze to scorch them again.
Most major investment banks were predicting a stellar 2021 for emerging market assets as long as one crucial snag - global borrowing costs rising too fast - was avoided. Well guess what, they are on a tear.
February saw their steepest monthly gain since Donald Trump’s shock 2016 U.S. presidential election win and, though the move comes from record low levels, for emerging markets now carrying nearly $80 trillion worth of debt it has been painful few weeks.
British finance minister Rishi Sunak plans to say in a budget speech on Wednesday that he will do "whatever it takes" to support the economy, and that the task of fixing the public finances will only begin once the country is recovering from the COVID-19 crisis.