Word: growth
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Dates: during 1980-1989
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...anemic growth rate put added pressure on Congress as it debated two initiatives that may have a profound impact on the economy: a sweeping reform of the tax system and a plan to reduce the $200 billion-plus federal budget deficit. Some lawmakers fear that tax reform, which may hike Government revenues in the short run, when combined with a federal spending cut could deaden an already weak economy. Said Representative Jack Brooks, a Texas Democrat: "We could be staring a raging recession right in the face...
That view is probably alarmist. Though some economists have begun to talk about the possibility of a recession, most experts expect growth to pick up in the second half of the year. They think that the 65% drop in oil prices since late last year, which has devastated the huge U.S. petroleum industry, will soon begin to stimulate investment by other businesses and increased spending by consumers. The fall in the value of the dollar, a 26% decline against major world currencies since early 1985, is expected to help reduce the trade deficit by making imports more expensive and American...
...could generate $12 billion in new loans to spur Mexico's economy and make up for lost oil-export revenues. The deal was noteworthy because it suggested that the IMF could be moving away from its traditional emphasis on imposing austerity programs and toward a policy of promoting faster growth in debtor nations...
...public spending, but the country will be allowed to run a budget deficit that amounts to 10% of its gross domestic product. Earlier in the negotiations, the IMF had wanted Mexico to trim its deficit to 5% of GDP. The new loans are intended to help Mexico boost its growth rate from an estimated -4% this year to 3.5% in 1987. If the economy falls short of this goal, or if the price of oil drops below $9 per bbl., the agreement calls for additional loans. In return, Mexico pledged to continue a program of economic reforms, including denationalization...
...sharply anyway, even before South Africa placed a moratorium last year on the repayment of private foreign loans. U.S. banks reduced their outstanding loans to all South African borrowers from $5 billion in 1984 to $3.24 billion at the end of 1985. Lack of foreign capital sharply limits the growth of South Africa's economy. Eventually the effect could be lower profitability for white-owned businesses, but it could also mean an increase in black unemployment...