Angola’s inflation slows to 30.51 percent year/year in June

A women walks at a market in Luanda

A women walks at a market in Luanda, August 25, 2012. REUTERS/Siphiwe Sibeko

Angola’s inflation slowed to 30.51 percent year-on-year in June from 32.58 percent in May, according to data on the national statistics agency’s website seen by Reuters on Monday.

Price increases on a month-on-month basis fell to 1.52 percent in June from 1.6 percent previously.

Originally reported by Reuters.

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Seychelles sees 2017 GDP growth at 4.1 pct: finance minister

Tourists shop in the streets of Victoria

Tourists shop in the streets of Victoria, Seychelles, file.
Photo: REUTERS/George Thande

Seychelles’ economy is seen growing at 4.1 percent this year from 4.5 percent in 2016, its finance minister said, while the International Monetary Fund said performance of its tourism sector remained vulnerable to external factors.

The Indian Ocean country of 93,000 people largely depends on tourism for government revenues but has sought to promote itself as a low-tax, financial services hub.

“For 2017 the growth prospects remain favourable…as tourist arrivals continue to rise at a sustained pace, while inflation should remain subdued, on account of the stability of fuel and other commodity prices,” Finance Minister Peter Larose said in a letter to the IMF released on Tuesday.

Seychelles’ inflation rose to 3.18 percent year-on-year in May from -0.78 percent a month earlier.

IMF said in a separate statement that Seychelles’ economy was still vulnerable to external factors that could affect its tourism sector.

“The outlook for tourist arrivals remains highly susceptible to external developments, such as weak growth in advanced and emerging market economies, weakness in the Euro, and geopolitical tensions disrupting the Middle East, Africa, and Europe,” it said.

Originally reported by Reuters.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all investment matters ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialized units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

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Morocco 1st Qtr growth 4.3 pct on Better Farming Output: Planning Agency

 

Morocco’s economy grew 4.3 percent in the first quarter of this year compared with 1.7 percent in the same period a year earlier, helped by better agricultural output, the planning agency said on Wednesday.

The agency said it expects the economy to grow 4.6 percent in the second quarter of 2017. Growth was 1.2 percent in the fourth quarter of 2016.

Agricultural output rose by 12.9 percent in the first quarter this year, up from 9 percent last year, the agency said.

Due to greater rainfall, the country is on course for a favourable harvest, with a 41 percent rise in the cereal harvest following a devastating drought last year that drove agricultural output down 70 percent.

Agriculture accounts for more than 15 percent of the Moroccan economy.

The non-agricultural sector grew 3 pct in the first quarter from a year ago, the agency said.

The current account deficit widened 21 pct in the first three months of the year, as oil prices picked up and Moroccan energy imports increased, the agency said. The North African kingdom is one of the biggest energy importers in the region.

Originally reported by Reuters.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all investment matters ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialized units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

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Strategic Business & Intelligence Division,
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Nigeria Determined To Overcome Recession This Year

Nigeria is determined to emerge from its first recession in a quarter of a century this year and needs to put more effort in revamping its infrastructure, its budget minister said on Wednesday.

Udoma Udo Udoma said the economy was beginning to recover after it experienced a smaller contraction in the fourth quarter, although it was still in a recession.

“The 2017 budget is structured to do just that … we are anxious to get the budget passed so that we can begin the implementation and begin to take all the steps we need to get the economy out of recession,” he told reporters after a cabinet meeting.

Originally reported by Reuters.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all investment matters ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialized units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

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Uganda’s GDP to grow 5.5 pct, boosted by oil & rate cuts – budget paper

Uganda’s economy will grow 5.5 percent in the year to June 2018, edging up from estimates for the current fiscal year thanks to lower borrowing costs and higher oil sector investments, a budget paper seen by Reuters on Monday showed.

The East African country’s central bank began a round of policy easing last April, since when the benchmark rate (CBR) has dropped from 16 percent to 11.5 percent.

“Growth will be supported by a recovery in private sector credit due to the easing of monetary policy,” the finance ministry’s budget framework said.

Issuance of crude production licenses would boost activity in the oil sector, also aiding growth, the paper said.

Uganda discovered crude reserves the government now estimates at 6.5 billion barrels about a decade ago in its western region along the border with the Democratic Republic of Congo.

Commercial production is expected to start in about four years, when an export pipeline through Tanzania to the Indian Ocean coast is due for completion.

Last year the government issued production licenses to France’s Total and UK explorer Tullow Oil.

The government expects economic growth of 5 percent in the year to June 2017, 50 basis points lower than it estimated last June due to the impact of war in neighbouring South Sudan, depressed commodity prices and slower implementation of public infrastructure projects.

Uganda is developing multiple infrastructure projects including expressways, hydropower dams, airport refurbishment, and a standard gauge railway line.

Overall public spending in the next fiscal year is forecast to decline to 24.3 trillion shillings ($1.20 billion) from 26.4 trillion, with much funnelled into civil works and the transportation and energy sectors, the paper said.

War in South Sudan has virtually cut off transport routes and disrupted trade between the two countries.

Total domestic debt issuance via Treasury bills and bonds in the next fiscal year is forecast to rise 7 percent to 1.5 trillion shillings, the paper said.

The government, which tends to vastly overshoot its stated debt target, said last June it planned to issue bills and bonds worth 612 billion shillings in fiscal 2016/17.

Originally reported by Reuters.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all investment matters ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialized units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Queries Feel Free to Contact :

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The Corporate Communications Team would require minimum a fortnight for Reviewing & Responding to Queries, which please note.