The global economic recovery is on track, despite high oil prices according to the heads of central banks from the top industrial nations and developing countries
Published:
20 September 2004 y., Monday
The global economic recovery is on track, despite high oil prices according to the heads of central banks from the top industrial nations and developing countries.
Meeting in Basel, Switzerland the financial policymakers from the Group of 10 concluded recent mixed economic signals are merely a pause in robust world growth.
The European Central Bank President Jean Claude Trichet said they are confident the recovery is confirmed and inflation expectations are on track.
The predictions for the euro zone remain relatively low however with growth expected to be around 2% for this year with Japan at 3.4% and the US at 4.6%. The banker's confidence comes even as momentum in the world's three largest economic regions slowed in the second quarter of 2004. Trichet said the central bankers agreed high oil prices were having less of an impact on the global economy than previous oil shocks, but they still want to see lower prices.
And he pointed out that a large part of recent oil price rises is due to higher demand and thus in fact reflects the economic recovery. The IMF is expected to revise upwards its 2004 global growth forecasts in the near future to 4.6, its highest level in a decade.
Šaltinis:
euronews.net
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The European Commission has approved, under EC Treaty state aid rules, an amendment to a Lithuanian scheme allowing aid to be granted of up to €500 000 per company, initially approved on 8 June 2009.
more »
As agreed by the President of the European Commission and the President of the Russian Federation during the last EU-Russia Summit in Khabarovsk, the EU and Russia have strengthened the current dispositions under the EU-Russia Energy Dialogue to prevent and manage potential energy crises, with an enhanced Early Warning Mechanism.
more »
The European Union has today presented to the World Trade Organization the trade facilitation projects it has financed between 2006 and 2008.
more »
The European Commission has authorised, under the EC Treaty’s rules on state aid, a planned state guarantee by Romania to enable Ford Romania SA to access a loan from the European Investment Bank (EIB).
more »
The economic crisis has left many countries with budget deficits well over the 3% limit. The commission is proposing deadlines for reducing the gaps.
more »
Statistics Lithuania informs that in October 2009, against September, prices for consumer goods and services went down by 0.4 per cent.
more »
Lithuania’s Vice-Minister of Foreign Affairs Šarūnas Adomavičius took part in bilateral political consultations with representatives from foreign affairs, commerce and transport ministries of the People’s Republic of China.
more »
Under the budgetary surveillance powers conferred by the EU Treaty, the European Commission today proposed to the Council to set 2013 as the deadline for the correction of the budget deficits in Austria, the Czech Republic, Germany, Slovakia, Slovenia, the Netherlands and Portugal.
more »
A joint partnership between the World Bank, the Moldovan Ministry of Agriculture and Food Industry and the Ministry of Environment was launched in Moldova’s capital in the late days of October.
more »
World Bank Group President Robert B. Zoellick today joins senior officials from the Government of Singapore to launch a new global urban strategy that will guide Bank advisory services and financing in the sector over the next decade.
more »