Showing posts with label recession. Show all posts
Showing posts with label recession. Show all posts

Saturday, September 5, 2020

Is this the end of the Middle East's oil rush?

Crude oil exporters are struggling to balance budgets with low oil prices. Plus, South Africa could face a debt crisis.

 Oil revenues in the Middle East and North Africa fell from more than $1 trillion in 2012 to $575bn in 2019, according to the International Monetary Fund.

The pandemic has meant demand for fossil fuels has been decimated and may not return. Have oil-exporting countries done enough to diversify their economies?

Saturday, August 22, 2020

Coronavirus and the economy: Can the world cope with more debt?



As stocks soar to record highs and inequality deepens during the pandemic, is it time to finally confront capitalism?


With more than 22 million coronavirus cases and almost 800,000 deaths worldwide, the health crisis is far from over, as countries face second waves of coronavirus cases.
We may have seen some of the worst economic costs, but more pain could be lurking in the months ahead.
Against this backdrop, the United States and China have potentially also inched closer to a new Cold War.

Tuesday, April 14, 2020

Coronavirus warning: economy could shrink by 35% with unemployment rising to 2 million - BBC News



There's a new warning that the coronavirus pandemic could have a devastating impact on the UK's economy. The Office for Budgetary Responsibility, the government's independent economic watchdog, says that if the lockdown lasts for 3 months the economy could shrink by 35% and unemployment could rise to 10% meaning two million people would be out of work. The Chancellor Rishi Sunak said he was "deeply troubled" by the figures.

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