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Germany 2021 Article Iv Consultation Press Release Staff Report And Statement By The Executive Director For Germany
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Book Synopsis Germany: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Germany by : International Monetary
Download or read book Germany: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Germany written by International Monetary and published by International Monetary Fund. This book was released on 2021-07-15 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: Germany’s economy contracted by just under 5 percent in 2020, outperforming most European peers. But renewed waves of infections and associated lockdowns caused economic activity to plunge again in the first quarter of this year. While the pace of mass vaccination has picked up and the economy has started to reopen, the recovery path is beset with risks, particularly with respect to the progress of the pandemic and supply shortages in major industries. The authorities have maintained appropriately accommodative fiscal and financial policies, and most measures supporting households and firms have been extended through 2021.
Author :International Monetary Fund. European Dept. Publisher :INTERNATIONAL MONETARY FUND ISBN 13 : Total Pages :0 pages Book Rating :4.4/5 (2 download)
Book Synopsis Germany by : International Monetary Fund. European Dept.
Download or read book Germany written by International Monetary Fund. European Dept. and published by INTERNATIONAL MONETARY FUND. This book was released on 2022-07-20 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The fallout from the war in Ukraine has hit the German economy before it regained its pre-pandemic GDP level, with effects running through higher energy costs, the possibility of gas shortages and broader supply disruptions, and weaker confidence. Consumer price inflation has spiked above 8 percent, largely because of energy price increases, but inflation pressures are becoming more widespread.
Book Synopsis Italy: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Italy by : International Monetary
Download or read book Italy: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Italy written by International Monetary and published by International Monetary Fund. This book was released on 2021-06-02 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt: The pandemic dealt a severe blow to the Italian people and their economy. GDP fell by nearly 9 percent in 2020, with much larger drops for contact-intensive services. Public and corporate debt increased strongly and preexisting vulnerabilities have likely worsened. The government is prioritizing resolving the health emergency and transforming the economy to lift productivity, improve social outcomes and strengthen resilience to future shocks and structural change. The large National Recovery and Resilience Plan—partly financed by sizable Next Generation EU resources—will be used to increase physical and social infrastructure. Outlook. GDP is expected to recover strongly in 2021–22 and to grow well-above trend over the medium term, supported by investment spending. Nonetheless, economic scarring could be sizable. The two-sided risks relate to how the pandemic progresses, the efficiency of investment spending and the extent of savings drawdown, with large costs associated with the downside.
Book Synopsis Luxembourg: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Luxembourg by : International Monetary
Download or read book Luxembourg: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Luxembourg written by International Monetary and published by International Monetary Fund. This book was released on 2021-05-25 with total page 79 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economic impact of the pandemic has been much milder than initially foreseen, still the outlook remains challenging. The economy, dominated by financial services, adapted quickly to telework and benefited from unprecedented policy support, both domestically and globally. Uncertainty is unusually high, dominated by the virus dynamics in the short term, with downside risks relating to a sharp rise in global risk premia, deglobalization trends, and changes in international taxation.
Book Synopsis Republic of Slovenia: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Slovenia by : International Monetary
Download or read book Republic of Slovenia: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Slovenia written by International Monetary and published by International Monetary Fund. This book was released on 2021-05-25 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: The pandemic is inflicting much suffering, which has been met with swift, substantial, and well-coordinated policy responses. The anti-crisis measures have helped preserve jobs, provide liquidity to companies and income support to the vulnerable groups. They averted a larger decline in output and kept unemployment under control. After contracting by 5.5 percent in 2020, real GDP is projected to grow by 3.9 percent in 2021 and 4.5 percent in 2022, as vaccinations help achieve herd immunity. However, risks to the outlook are large and tilted to the downside, given the epidemiological situation.
Download or read book Germany written by and published by . This book was released on 2016 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Switzerland: 2021 Article IV Consultation-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Switzerland by : International Monetary
Download or read book Switzerland: 2021 Article IV Consultation-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Switzerland written by International Monetary and published by International Monetary Fund. This book was released on 2021-06-21 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt: Switzerland has navigated the COVID-19 pandemic well. The pandemic has had major social and economic impacts, but an early, strong, and sustained health and economic policy response helped contain the contraction of activity. Coordinated efforts targeting households and firms stemmed a loss of purchasing power and a rise of unemployment and bankruptcies. Recovery has commenced, but uncertainty and risks remain high, dominated by pandemic dynamics. The rebound should deepen, as vaccination proceeds, containment is eased, and domestic and global demand picks up. Fiscal support has been rightly extended in 2021, and monetary policy remains accommodative. Policies should remain supportive until there are clear signs of sustained recovery; the authorities should expand support if needed. Redirection to fostering green, digital transformation with attention to low-income earners will be needed, including to ensure that prolonged emergency support does not hinder structural changes in the economy.
Book Synopsis Austria: 2021 Article IV Consultation-Press Release; Staff Report; Staff Supplementary Information; and Statement by the Executive Director for Austria by : International Monetary
Download or read book Austria: 2021 Article IV Consultation-Press Release; Staff Report; Staff Supplementary Information; and Statement by the Executive Director for Austria written by International Monetary and published by International Monetary Fund. This book was released on 2021-09-09 with total page 71 pages. Available in PDF, EPUB and Kindle. Book excerpt: Austria entered the crisis from a strong position. Prudent policies prior to the pandemic provided significant policy space. Several lockdowns helped contain the virus but significantly impaired the economy. Real GDP contracted by 6.3 percent in 2020 and declined further in early 2021. The 2021 recovery is expected to be modest; the tourism and hospitality sectors will continue to be affected. Over the medium term, growth will accelerate in 2022 and then stabilize at potential, but the output level will remain somewhat below the pre-COVID trend. Uncertainty remains high.
Download or read book Republic of Slovenia written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Montenegro: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Montenegro by : International Monetary
Download or read book Montenegro: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Montenegro written by International Monetary and published by International Monetary Fund. This book was released on 2022-02-24 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: COVID-19 hit the economy hard, but a strong recovery is underway. Public debt, already elevated before the pandemic, has increased further. The government has embarked on a reform program ‘Europe Now’, which aims to arrest outward migration through a sharp minimum wage increase, labor tax wedge reduction, and the introduction of a progressive tax code. The financial sector appears to have withstood the COVID-19 shock well.
Book Synopsis Belgium: 2021 Article IV Consultation -Press Release; Staff Report; and Statement by the Executive Director for Belgium by : International Monetary
Download or read book Belgium: 2021 Article IV Consultation -Press Release; Staff Report; and Statement by the Executive Director for Belgium written by International Monetary and published by International Monetary Fund. This book was released on 2021-09-15 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: Belgium was hit hard early by Covid-19, but a timely, strong, and sustained health and economic policy response helped cushion impacts. A coalition government took office in October 2020, giving greater policy clarity and rightly prioritizing the Covid-19 crisis. A highly-effective vaccine rollout has facilitated reopening and recovery.
Book Synopsis Trinidad and Tobago: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Trinidad and Tobago by : International Monetary
Download or read book Trinidad and Tobago: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Trinidad and Tobago written by International Monetary and published by International Monetary Fund. This book was released on 2022-03-10 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: Trinidad and Tobago faced unprecedented challenges in 2020–21. The combined effects of COVID-19 and energy production and price shocks pushed the economy further into recession. A decisive policy response helped contain the virus spread and protect lives and livelihoods. The fiscal position worsened due to significant tax revenues shortfalls, pushing public debt up. The vaccination pace accelerated recently, but vaccine hesitancy remains high, amid a potential new wave of infections.
Book Synopsis People’s Republic of China: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the People’s Republic of China by : International Monetary
Download or read book People’s Republic of China: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the People’s Republic of China written by International Monetary and published by International Monetary Fund. This book was released on 2022-01-28 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt: China’s recovery is well advanced—but it lacks balance and momentum has slowed, reflecting the rapid withdrawal of fiscal support, lagging consumption amid recurrent COVID-19 outbreaks despite a successful vaccination campaign, and slowing real estate investment following policy efforts to reduce leverage in the property sector. Regulatory measures targeting the technology sector, intended to enhance competition, consumer privacy, and data governance, have increased policy uncertainty. China’s climate strategy has begun to take shape with the release of detailed action plans. Productivity growth is declining as decoupling pressures are increasing, while a stalling of key structural reforms and rebalancing are delaying the transition to “high-quality”—balanced, inclusive and green—growth.
Book Synopsis Czech Republic: 2021 Article IV Consultation-Press Release; Staff Report; Supplementary Information; and Statement by the Executive Director for the Czech Republic by : International Monetary
Download or read book Czech Republic: 2021 Article IV Consultation-Press Release; Staff Report; Supplementary Information; and Statement by the Executive Director for the Czech Republic written by International Monetary and published by International Monetary Fund. This book was released on 2022-01-27 with total page 87 pages. Available in PDF, EPUB and Kindle. Book excerpt: 2021 Article IV Consultation-Press Release; Staff Report; Supplementary Information; and Statement by the Executive Director for the Czech Republic
Book Synopsis Finland: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Finland by : International Monetary
Download or read book Finland: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Finland written by International Monetary and published by International Monetary Fund. This book was released on 2022-01-31 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: With strong policy support, Finland suffered a relatively mild economic contraction in 2020 followed by a swift recovery in 2021. Medium-term growth prospects are less strong, due to adverse demographics and low productivity growth—trends that precede the pandemic. Public debt has increased due to pandemic-related support and will remain on a rising trajectory in the medium term, largely reflecting permanent spending increases.
Book Synopsis Spain: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Spain by : International Monetary
Download or read book Spain: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Spain written by International Monetary and published by International Monetary Fund. This book was released on 2022-02-16 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Spanish economy is recovering from the deep recession caused by the COVID pandemic and employment is already above its pre-pandemic level. A highly successful vaccination campaign helped limit the impact of the recent wave of infections on hospitalizations and economic activity. Output is expected to return to its pre-pandemic level by the end of 2022. However, there is significant uncertainty around the recovery path related to the evolution of the pandemic and the duration of global supply bottlenecks. The pace of absorption and the effectiveness of use of Next Generation EU (NGEU) funds will also affect growth in the coming years. In the near term, the key policy challenge is to continue to provide targeted pandemic support while facilitating resource reallocation and a transformation to a greener and more inclusive economy.
Book Synopsis Malta: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Malta by : International Monetary
Download or read book Malta: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Malta written by International Monetary and published by International Monetary Fund. This book was released on 2021-09-17 with total page 71 pages. Available in PDF, EPUB and Kindle. Book excerpt: The fallout from the COVID-19 crisis has hit the Maltese economy hard, particularly its large tourism sector. Using fiscal buffers accumulated prior to the pandemic, the authorities have taken swift actions to support households, businesses, and the healthcare system. With the rapid rollout of COVID-19 vaccine, the economy has reopened for the summer tourism season. While the outlook is surrounded by a high degree of uncertainty, the Maltese economy is expected to rebound by 53⁄4 percent this year, up from -73⁄4 percent in 2020. The financial system has remained stable. In late June 2021, the Financial Action Task Force (FATF) put Malta under increased monitoring due to concerns about effectiveness of its anti-money laundering and combatting the financing of terrorism (AML/CFT) framework.
