Australia: Australian Government Proposes Lowering Public Debt Through Privatization and Cuts in Welfare Payments
According to Bloomberg, an Australian government report suggests the government to privatize 10 public enterprises, among which figure retail and postal assets, and to cut family welfare payments in order to meet Primer Minister Tony Abbott’s pre-elections goal of lowering public debt.
Ukraine: IMF Approves $17bn Aid Deal for Ukraine
The International Monetary Fund (IMF) approved a USD 17.0 billion aid deal for Ukraine. The IMF’s executive board gave green light to open the immediate deployment of USD 3.2 billion. The USD 17 billion aid deal accounts for nearly 10% of Ukraine’s GDP.
United States: Fed to Keep Trimming Stimulus as Economy Shakes Off Stall
The Federal Reserve announced that it will continue to taper its bond purchase program in the coming month as the economy showed signs of picking back up after a harsh winter season.
China: China April Manufacturing Data Add to Signs of Weakness
Bloomberg reports that the PMI in China was at 50.4 points in April, which was slightly down from the 50.5 points expected by the markets. The figure highlights weakness in the economy from exports to construction that could force extra government measures to support growth.
Europe: Is EU Membership Cause for Celebration?
CNBC makes an assessment of the impact of joining the EU for the ten countries that joined the bloc exactly ten years ago.