Economics Herald

China will not start competitive devaluation of its currency to stimulate exports. This was stated by Chinese Prime Minister Li Keqiang after another episode of the escalating trade war between Beijing and Washington. Speaking at an event at the World Economic Forum, he did not comment on the growing tensions, but pointed out that the deliberate devaluation of the yuan was “groundless”. “One-day devaluation of the yuan brings more damage […]

The world needs to increase its spending if wants to meet its ambitious goals of poverty reduction and environmental protection adopted by the UN. This was stated by the director of the International Monetary Fund (IMF) Christine Lagarde in a speech in London. “For the low-income countries in particular, meeting the additional spending needs will require a strong partnership between all stakeholders – countries themselves, but also official donors, philanthropy, […]

Despite the unexpectedly weak start of the year, the German central bank (Bundesbank) expects the country’s economy to accelerate in the second half of the year. “The upturn in Germany will remain unaffected last but not least due to the continuing positive internal situation”, says the institution’s monthly report. In July, sinking industrial orders, declining output and declining exports raised doubts about that. “The German economy started weak during the […]

Cashless payments are becoming more popular in Europe. Last year, the total number of payments by electronic means (card, money transfer from one account to another, checks and etc) made in the European Union (EU) grew by almost 8% and reached 134 billion EUR, according to data from the European Central Bank (ECB). The Europeans used cards transactions more than ever. The card payments jumped by 11% last year and […]

German Economy Minister Peter Altmaier expects the German economy to grow by about 2% this year, predicting a difference of 0.1 percentage point. “We could also have a 3% growth”, said Peter Altmaier, but added that companies are not investing enough to achieve higher growth because they lack a sufficient workforce to increase production. Earlier this month, the Ifo economic institute increased its growth forecast for German gross domestic product […]