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Tag Archives: Economy

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EU boss calls for ‘war economy’

The EU must reimagine its military strategy and drastically ramp up its defense production in order to help Ukraine in its ongoing conflict with Russia, European Council President Charles Michel said on Monday. He made his call as Kiev has been increasingly warning about ammunition shortages.  “Russia is a serious …

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US government debt biggest threat to global economy – Russian NGO

US government debt and Washington’s budget deficit present the biggest threats to the global economy this year, Russian government agency Roscongress has warned. Washington’s $34 trillion burden is mathematically impossible to pay off, Roscongress has claimed in a report it published on Wednesday. The agency based its estimate on the …

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Israel destroying Palestinian economy – UN

The conflict between Israel and Hamas has had a devastating economic effect on the West Bank and Gaza, where GDP has shrunk by 4.2% in the month since fighting erupted, according to a report by the UN. It added that 400,000 people have been plunged into poverty during the same …

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Biden is willing to damage US economy to counter China – Yellen

President Joe Biden will stop at nothing to protect America against security threats posed by China, even if the actions he must take damage his own nation’s economy, US Treasury Secretary Janet Yellen has claimed. “National security is of paramount importance in our relationship with China,” Yellen said on Wednesday …

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Worst-performing G7 economy revealed

The US was the worst-performing of the Group of Seven most advanced Western economies in the second quarter of 2022, the latest data from the UK Office of National Statistics (ONS) showed on Friday. The ONS released the G7 comparison while also reporting that the British economy had contracted by …

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EU heading for ‘war economy’ – Orban

Hungarian Prime Minister Viktor Orban has lambasted an EU plan to reduce gas consumption by 15%. Unless the bloc pushes for peace in Ukraine, he warned that Europe will face an energy crisis, a recession, and political turmoil. Speaking following a meeting with Austrian Chancellor Karl Nehammer in Vienna on …

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Russian economy more resilient than expected – Bloomberg

Russia appears to be on track for a much shallower recession than was initially expected this year, Bloomberg reported on Wednesday, citing experts. Surging oil shipments have blunted the impact of US and EU sanctions, they say. According to the publication, economists from JPMorgan Chase, Citigroup, and other big banks …

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Russia could destroy half of Lithuania’s economy – governor

Moscow could bring down half of Lithuania’s economy in response to the partial trade blockade of Kaliningrad Region, Russia, its governor has said. “The transport sector of the Baltic states could be destroyed if Russia implements counter-sanctions on the goods coming in and out of the Baltic states,” Kaliningrad Region …

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