Word: gdp
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...march was organized by labor unions to coincide with the second 24-hour strike in two weeks, which grounded planes, stopped public transportation and shuttered schools. The recently announced belt-tightening measures include tax hikes and government wage freezes. Greece faces a budget deficit estimated at 12.7% of GDP and the possibility of being the first nation to default among the 16 countries that use the euro...
...past two decades, China's rapid economic growth has been twinned with an even more rapid increase in military spending. While GDP has expanded by an annual average of 9.6% over the past 10 years, the reported budget for the People's Liberation Army has grown by an average of 16%. So it was an unexpected surprise when Li Zhaoxing, a former foreign minister who is now spokesman for the National People's Congress, announced on March 4 that China's defense budget would increase by 7.5% for 2010, just over half of last year's 14.9% rise...
...should be interpreted as compensational growth," says Zhao Zongjiu, deputy secretary-in-general at Shanghai Institute for International Strategic Studies, a government-backed think tank. "I predict that, given the current policy environment, the growth rate of military expenses will remain roughly on the same level as China's GDP growth in the next few years." (See pictures of China's infrastructure boom...
...Washington ponders its taxation options, it might also wish to cast its gaze toward the NYSE and Nasdaq, whose companies add very little to the public till. In fact, their contribution as a percentage of GDP ranks in the bottom quartile among OECD nations' figures...
...members operate under perpetual fear of arrest and intimidation. Iran's official media continue to portray Iran as a success story. Indeed, so does President Mahmoud Ahmadinejad. However, at Ahmadinejad's most recent press conference, in mid-February, a reporter asked the President about the omission of third-quarter GDP growth figures from the latest report by Iran's Central Bank. Ahmadinejad simply dismissed the importance of interim figures as "mere estimates" and claimed that current growth stood at 6.9%. Significantly, the newspaper World of Industry, not a government organ but one that caters to economists and technocrats, pointed...