African economy 'to expand 6.2%'
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Africa's economy will grow faster this year, but changes are still needed for it to catch up with the rest of the world.
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Cuba's economy should follow two strong years of economic growth with an expansion of at least 10 percent, Economy Minister Jose Luis Rodriguez said.
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Economic growth is expected to top 7 percent for East Asia and Pacific (excluding Japan) in 2004, while developing economies in the region are expected to expand by more than 8 percent, the World bank said here on Tuesday.
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The OECD is increasing its forecast for European economic growth in 2006, as recovery is well under way.
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The World Bank said that developing countries are seeing their strongest economic growth in three decades -- and strong growth is likely to continue for the next two years.
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The Japanese economy is expected to grow just above 2.0 percent in 2005 and 2006, losing some steam on slower exports after an estimated robust 4.0-percent expansion this year, according to the OECD.
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Higher oil prices have slowed economic growth in the Organization for Economic Cooperation and Development, but it should expand by 3.6 percent this year.
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The double whammy of higher oil prices and unfavourable weather conditions for agriculture, will slow the countryâs economic growth to 6.5 per cent in 2004, and an even lower level of 6 per cent in 2005, according to an Asian Development Bank (ADB
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Global commerce is expected to grow 8.5 percent by the end of this year, helped by economic expansion that could overcome record oil prices, the World Trade Organization said Monday.
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The Asian Development Bank has raised its growth forecast for Philippine economy to between 4.7 percent and 5.7 percent both for 2004 and 2005, higher than the 4.5 percent to 5.5 percent growth projection it made in April.
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An African-based investment analyst says further rises in global oil prices are likely, given the growing possibility of civil war in the world&#39;s sixth-largest oil producer, Nigeria.
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Economic growth in South Africa is reviving, helped by high commodity prices and low interest rates, the country's central bank says.
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In its latest Asian Development Outlook released today, the ADB said GDP growth projections for 2004 have been raised by about half a percentage point in both East Asia and Southeast Asia.
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The International Monetary Fund expects Israel&#39;s economy to grow 3.6 percent by the end of this year, and 3.5% in 2005, according to the World Economic Outlook review released last week during Succoth.
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Economic growth in both France and the 12-nation eurozone is likely to be close to 2.5 percent for 2006, the governor of the French central bank said.
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Boeing Co.  said on  Wednesday that world air cargo growth is expected to expand at  an average annual rate of 6.1 percent during the next two  decades, with markets linked to Asia leading the way.
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African leaders extend the mandate of their Darfur peacekeepers for another six months.