France: PM Manuel Valls Announces Structural Reforms
As reported by the BBC News, the new French PM Manuel Valls has vowed to cut both taxes and spending in a bid to make the French economy more competitive. However, he said that he would not resort to austerity measures.
United Kingdom: Britain to Lead Growth in G7
As The Guardian reports, Britain will be the best performing of the G7 countries this year, the International Monetary Fund (IMF) predicted as it conceded it had been overly pessimistic last spring when it warned George Osborne to ease austerity measures or jeopardize growth.
Sweden: Sweden Raises GDP Outlook Predicting Balanced Budget by 2016
Bloomberg reports that the Swedish government rose its GDP forecast for both this year and the next amid improving economic conditions. Now it expects the economy to expand 2.7% in 2014 and 3.3% in 2015, up from the previous estimates. In addition, the government projects a balanced budget and unemployment rate of 6.7% by 2016.
Poland: Poland Leaves Policy Rate Unchanged at 2.5%
According to Reuters, Poland kept its interest rate steady at 2.5%. This decision has been in line with market expectations and with the Central Bank’s forward guidance that indicates that borrowing costs will remain stable until end of Q3 2014.
Greece: Greece Returns to Debt Markets With Five-year Bond
BBC reports that on 9 April, Greece returned to the bond market after four years by issuing a five-year bond. The news came as thousands of Greeks marched on the streets to protest against job and spending cuts.