Promoting economic recovery, investment in European youth and infrastructures of the future are the priorities of the draft budget for 2011 adopted by the European Commission on April 27, 2010, reported portal “Europe”. Of the 142.6 billion EUR 64,4 billion EUR are allocated to actions for economic recovery (3.4% compared to 2010). In addition, funds in support of the flagship initiatives of the EU Strategy for 2020 (growth) accounted for around 57.9 billion EUR (about 40% of the budget). “The ambition of the draft is to continue to support economic recovery, together with Member States, particularly in favor of the more vulnerable in this situation after the crisis, as reflected in the new budget comprehensive EU approach to job creation and growth “said Budget and Financial Planning Janusz Levandovski. He stressed that the draft budget adopted today provides Europe and its citizens incentives to develop the economy of the future: its main components are research and innovation, sustainability and inclusion. This draft is aimed at helping young people to be better prepared for future promotion of small and medium enterprises make best use of EU funds for the bailout.
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The U.S. president Barack Obama said the U.S. economy has overcome the crisis and a growing again. “We see that picked the economy from the crisis and grow again. Companies began to hire people to work, but this does not happen as fast as we want,” the president said in an interview with CBS. Labor market in the U.S. occur recovered somewhat – Unemployment fell to 9,7 percent in January from 10 percent in December. Economy has grown by 5.7 percent in the fourth quarter of 2009 and during the third growth was 2.2 percent. Barack Obama announced that he had invited leaders of the Republicans and the Democrats for a discussion on health reform on 25 February. The President and the democratic leaders in Congress seeking to push through healthcare reform law, once again the Republicans are able to block bills in the Senate. According to sociological polls Obama and Democrats in Congress are not demanding enough Republican support for health reform. Discussion on 25 February will be attended by leading representatives of the Republican and Democratic party of both houses of Congress – the House of Representatives and Senate. Is optimistic and the Minister of Finance Timothy Гейтнер, who in an interview with ABC News, quoted by the agency Reuters, says that currently the risk of re-recession in the U.S. is very low. However Geytnar acknowledges that recovery will be slow and uneven.
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The Chinese oil company PetroChina obtain permission to harvest oil from the Canadian oil sands deposits in the Canadian province Albarta. The price which will give energy company to acquire a 60% share in both deposits is 1.7 billion dollars, police BBC. Both fields have a common saving of 175 billion barrels of oil. The only Saudi Arabia has more deposits of similar type. but the extraction of raw materials of sand is expensive and difficult process, says BBC. Now because of the increasing price of raw material (77% jump from the beginning of 2009) in such investments provide a return on deposits, the agency adds. The deal was great proving the Chinese economy is developing faster and getting second strongest economies of the world. The company is the largest Chinese petroleum companies, operating all over the world.
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Over 134 million Americans planned to enter the market or buy from the Internet during this long weekend that begins with days to Thanksgiving, which is today and will reach its peak tomorrow in the so-called Black Friday. Last Friday of November has no official status of the holiday, but many employers allow their employees to not come to work that day. Most shops open at 5 am, and some even earlier, and already have a full Christmas decorations and the doors of their rank the most eager buyers to take advantage of huge discounts. Aforementioned numbers exceed that of last year, but far less than the stated expectations before Black Friday of 2007 writes Reuters. Only a few months, the attitude of the retailers had been so optimistic. Recent studies show that though the desire to please his family led the Americans to open their wallets wider, since in recent months, residents of the United States were significantly diminished costs. More than one-third of the citizens surveyed by Deloitte said they expect to spend more money in the last days of the year, and 86% of them declare that they will raise the cost of gifts.
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Sales of existing homes in the United States reached an annual rate of 6.1 million pcs. in October, or 10.1 percent more than the pace reached in September. These forward Bloomberg, citing data from the National Association of Realtors real estate. The pace is well above expectations of analysts who forecast it to reach 5.7 million pcs., The agency adds. From there, considering that the results are largely due to a tax credit that families receive in the purchase of first homes, which amount to 8 thousand dollars. Compared with the same period last year house prices in October fell by 7.1%, the smallest drop of more years, it. Data was taken positively by the market, S & P 500 rose by 1.9% to 1111.53 points. Meanwhile it became clear that Americans will spend an average of 390 dollars on holiday gifts this year.
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The Deforestation in Amazon should be reduced by half to reach the level of 20 years ago, the authors recommend a study of the Brazilian Institute for Space Research (INPE). Processed satellite images for the entire 2008 show that forests are felled in an area of 12.911 thousand square kilometers. Preliminary data for 2009 show that this year would fall to destruction 7 thousand sq. km. Scientists say the reduction of forested areas in Amazon River in 2008 equals 20 years of logging, since the region is seen from space. Scientists state that more than half of the Amazonian forest (68%) are privately owned, but the felling is illegal. Deforestation in Brazil and especially in the Amazon jungle and measures for their protection is one of the painful issues of both domestic and foreign policy. According to government sources, deforestation in Amazonia could cost loss of $ 1 trillion. Show the forecast data of the United Nations Environment (UNEP). Because of deforestation increased evaporation, not only in Brazil but also its neighboring countries in South America, which already threatens the agricultural sector in the region. INPE data show that the Amazon basin daily evaporate 20 billion tons of water.
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Business confidence in Germany rose to a 13-month high in October because of the improving growth outlook for Europe’s largest economy. Measurements of the in institute Ifo index, which includes views at 7000 Executive Directors in October increased to 91.9 percent from 91.3 percent. The analysts expected index to reach 92 points. Index reached its lowest point in 26 years since a bottom in March from 82.2 points. A separate report has been reported that production in the country has returned to the path of growth after 14 months of contraction recorded Markit Economics Institute. Ifo Institute’s index of the current situation rose to 87.3 points from 87.1 points in September. After the data the euro remained without significant change from the levels of 1.5030 EUR / USD.
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China will overtake Japan in economic development and will become the second largest world economy over the next two years. This will give Beijing more influence on the world economic and political scene and will enhance the reputation of the ruling Communist Party in the country, say analysts interviewed by AP. Statistics to be published this week in Beijing will probably show that gross domestic product (GDP) of China grew by an impressive 9.5% yoy in the third quarter. This will further reduce the difference to Japan, which is expected to account most 1 percent GDP growth annually in the third quarter. Economists expected in 2010 or in 2011 China to shift its Asian rivals of the position of second largest economy in the world that Japan held for more than 40 years. Shift in the rankings, however, would be largely symbolic and will have little impact on world trade, according to analysts. In 2008, GDP of the United States amounted to 14.2 trillion. dollars annually, while that of Japan – to 4,9 trillion. dollars. Before the economic crisis to hit China, the country’s economy is growing at double-digit annual growth from 2003 to 2007 to reach a value of GDP of 4,3 trillion. dollars in 2008, according to the World Bank.
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The President of the European Central Bank, Trichet told a news conference after the meeting of the institution that current levels of base rate are appropriate and recent economic data confirms this. At the meeting it was decided to maintain the rate of 1 percent, supported unanimously, he added. According to him, it was noted that good signals for economic stabilization and expects inflation to moderate in positive levels, and inflation stability will be maintained to support the private costs. Trichet said the moderate growth of loans maintain low inflation. In August the annual inflation rate was minus 0.2%. Economic recovery, although expected to be “uneven”, said President of the ECB. He warned that the risk to see if further recovery of tightening fiscal policy. Departure from current policies of fiscal stimulus must be made at a time when the recovery remain
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The growth of Russian economy in 2010 will be 3.9 percent of recent estimates show Bank of America. This is an upward revision from the previous forecast of 2.4 to increase the country’s GDP. The new estimate is based on higher fuel prices, which are among the main export goods to Moscow, and the government provided incentives. For the second quarter of this year the country reported the largest decrease in its gross domestic product – 10.9% annually after the first quarter the economy shrank by 9.5%. In July, the IMF forecast economic growth of Russia with 1.5 percent for next year and a decline of 6.5 percent for this.
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