BAGHDAD — In the wholesale market of Jamila, near Baghdad's sprawling Sadr City neighborhood, a merchant, Hassan al-Mozani, was surrounded by towering piles of unsold 110-pound sacks of flour.
"Normally at a minimum I would sell 700 to 1,000 tons a month," he said. "But since the crisis started we have only sold 170 to 200 tons."
His troubles are a ground-level indicator of what economists say is the biggest financial threat to Iraq since Saddam Hussein's time. Iraq is running out of money to pay its bills. That has created a financial crisis with the potential to destabilize the government — which was ousted a year ago after mass protests over corruption and unemployment — touch off fighting among armed groups, and empower Iraq's neighbor and longtime rival, Iran.
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Oxford Economics projects Indonesia's GDP to grow 6% in 2021 - Business - The Jakarta Post
Indonesia’s economic growth is expected to rebound this year after it fell in 2020 into its first recession since the 1998 Asian financial crisis, but the coronavirus pandemic will continue to dampen economic activities, according to the reports of several international organizations.
According to the latest economic outlook from Oxford Economics commissioned by the Institute of Chartered Accountants in England and Wales (ICAEW), the country’s gross domestic product (GDP) is forecast to shrink 2.2 percent in 2020 and rebound to 6.0 percent growth in 2021, driven by increases in consumer and infrastructure spending.
Will the Economic Bounce Back Continue in 2021? – WWD
NCAA estimated to add $100M economic boost
The incoming NCAA tournament would provide a financial jolt to the struggling economy of Indianapolis of at least $100 million, officials said today.
With no clear decision yet on whether or how to include fans, the exact economic impact of the tournament is uncertain. Still, tourism and sports officials estimate the tournament will generate at least nine figures in economic spending as the city continues to reel from the coronavirus pandemic.
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The Economics of Divestment | Cato @ Liberty
The comptroller of New York State, Thomas P. DiNapoli, recently announced that the New York State pension fund will divest itself of many fossil fuel stocks within five years. He said, "investing for the low‐carbon future is essential to protect the fund's long‐term value." He had resisted such a strategy for many years because of his fiduciary duty to fund the retirement benefits of state and local public sector workers.
Investment restrictions are increasingly common. 26 percent of all U.S. professionally managed assets—worth $12 trillion—are governed by investing limitations; $3 trillion have fossil fuel restrictions .
China's Economic Data: A Guide for the Dazed and Confused - WSJ
The world's second-largest economy is incredibly influential—trends in China help determine everything from the global prices of steel and pork to the balance of military power in the Taiwan Strait. It is also widely misunderstood.
While skepticism of China's official figures is widespread, and justifiably so, some of the more granular official data are actually very useful. The picture can and does change over time: When a certain economic data point becomes a political target in China, the incentives for officials to fudge it rise.
Economists Expect Tough Sledding in Winter, Then a Rebound - WSJ
Headed into 2021, the U.S. faces a surge in coronavirus cases, new restrictions on business, cautious holiday shopping and slowing economic growth. Forecasters anticipate that the Labor Department's December jobs report, due to be released Friday, will show the labor market closed the year on a weak footing.
Economists surveyed by The Wall Street Journal expect to see employers added 68,000 new jobs in December, down from 245,000 a month earlier. That would mark the slowest month of the labor market's recovery since May.
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Nature so often is the best healer. Many Iraq war veterans struggling with PTSD found that a long hike on the Pacif… https://t.co/wXgpRAlA62 NickKristof (from Everywhere) Mon Dec 28 17:24:59 +0000 2020
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