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LEADING ECONOM

 
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BerichtGeplaatst: 24-08-2018 09:36:15    Onderwerp: LEADING ECONOM Reageren met citaat

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BRASILIA, Jan. 30 (Xinhua) -- Brazil registered the worst budget deficit in 20 years in 2016, amounting to 154.25 billion reals (49.44 million U.S. dollars) or 2.4 percent of the gross domestic product (GDP), local media reported on Monday.


It is the third year in a row the government has registered a primary deficit amid a severe recession and resulting drop in tax revenues, and it is the worst deficit since records have been kept starting in 1997, the G1 news website reported, citing figures released by the National Treasury.


Still, last year's deficit falls within the parameters set by the government of President Michel Temer, and ratified by Congress, which set a ceiling of 170.5 billion reals (54.65 million dollars).


"The outcome was better than expected, as we brought about a deficit that came in under the target," Finance Minister Henrique Meirelles told reporters.


In 2015, the budget deficit reached 114.9 billion reals (36.83 million in today's dollars).

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BEIJING, Nov. 23 (Xinhua) -- Since the 2014 Asia-Pacific Economic Cooperation (APEC) summit in Beijing, China has continuously highlighted global governance at such different international occasions as the Hangzhou G20 summit in September and the just-concluded APEC summit in Lima.


China's proposals, initiatives and contributions are injecting fresh vigor into global governance.


LEADING ECONOMIC GLOBALIZATION


At the APEC CEO summit in Lima, Chinese President Xi Jinping renewed his call for pushing forward the building of a Free Trade Area of the Asia-Pacific (FTAAP), saying it ""is a strategic initiative critical for the long-term prosperity of the Asia-Pacific.""


""We should firmly pursue the FTAAP as an institutional mechanism for ensuring an open economy in the Asia-Pacific,"" he told global business leaders, emphasizing ""openness is the lifeblood of the Asia-Pacific economy.""


The FTAAP process was launched at the 2014 APEC Economic Leaders' Meeting in Beijing with the endorsement of a roadmap. A ""collective strategic study"" was subsequently conducted, as agreed by the APEC members, and the result should be reported to the economic leaders by the end of 2016.


Under the current international situation, Xi's initiative is of great significance. Over the past few years, the world economy has been trapped in a weak recovery, insufficient growth momentum, and sluggish trade and investment.


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