Economic growth
The International Monetary Fund has revised upwards its GDP growth forecasts for the US economy, indicating a stronger-than-expected performance in 2025, amidst concerns over the long-term impact of Trump's tariff policies. Contrary to initial predictions, the IMF now expects the US economy to grow at 2% in 2025,
Economic growth
The UK is set for a cost of living blow at the next month's Budget, with economists predicting that interest rate cuts will be delayed as the Bank of England seeks to bring the rate of price rises under control. The International Monetary Fund (IMF) has upgraded its
Economic growth
Chancellor Rachel Reeves has confirmed that she is examining potential tax rises and spending cuts to address a significant economic deficit, estimated at around £50 billion, resulting from the lingering impact of Brexit, austerity policies, and the effects of Liz Truss's mini-budget. The Office for Budget Responsibility (OBR)
Economic growth
The International Monetary Fund (IMF) has increased its 2025 growth forecast for Saudi Arabia, citing improvements in the non-oil manufacturing sector and the Kingdom's continued participation in gradual OPEC+ production cuts. Saudi Arabia's economy has demonstrated strong resilience to shocks, with non-oil economic activities expanding, inflation
Economic growth
Chancellor Rachel Reeves has acknowledged that she is examining potential tax rises and spending cuts to fill a significant financial gap in her upcoming Budget. The black hole is estimated to be around £50 billion by some economists, and Reeves confessed that the lingering impact of Brexit, austerity policies, and
Economic growth
Persistent uncertainty over trade policy and supply chain disruptions has weighed heavily on the world's economic output, according to the International Monetary Fund's latest World Economic Outlook report. While the global economy has shown resilience, with growth stronger than expected in 2025, the impact of trade
Economic growth
Three economists, Joel Mokyr, Philippe Aghion, and Peter Howitt, have been awarded the Nobel Memorial Prize in Economic Sciences for their groundbreaking work on creative destruction, a concept that explains how new innovations replace and destroy older technologies and businesses. The prize recognizes their research on the mechanisms behind sustained
Economic growth
The State Council of the People's Republic of China announced that since the deployment of a package of incremental policies last year, the growth rates of invoice sales and tax revenue have steadily rebounded. Major industries and tax types have achieved steady growth, capital market-related taxes have maintained
Economic growth
The Royal Swedish Academy of Sciences has awarded the 2025 Sveriges Riksbank Prize in Economic Sciences to Joel Mokyr, Philippe Aghion, and Peter Howitt for their groundbreaking contributions to understanding the determinants and correlates of long-term economic growth. The prize acknowledges the trio's diverse methodological approaches, with Mokyr
Economic growth
The International Monetary Fund (IMF) has released its latest World Economic Outlook, which includes upgraded economic growth forecasts for Cyprus. According to the report, Cyprus's GDP is expected to grow by 2.9 per cent in 2025 and 2.8 per cent in 2026, up from 2.5
Economic growth
Economic growth has lifted billions of people out of poverty over the past two centuries, but the trio of economists Joel Mokyr, Philippe Aghion, and Peter Howitt warn that poor policy could see economies stagnate again. Innovation is key to driving sustainable growth, and the three economists have extensively researched
Economic growth
Achieving gender parity in entrepreneurship could significantly boost European economies, new research carried out by Frontier Economics and commissioned by Amazon shows. The study looked at 13 European countries and found that reaching gender parity in new business creation—where 50% of startups are founded by women—could increase productivity
