Homepage  Homepage     Search on site  Search on site     To write the letter  To write the letter     Site map  Site map
Agro Perspectiva
We are on: 
   
 


Home > News

Global economy: prospects 2013

10.01.2013 15:11 "Agro Perspectiva" (Kyiv) — Global financial institutions will continue to teeter on the brink of collapse in the next decade. A statement to this effect was included in a report of the World Economic Forum on global risks in 2013, Voice of Russia reports. Experts are mostly concerned about the probability of the United States facing a ‘fiscal cliff’ and Greece going into default. Meanwhile, the Russian economy inspires hope while the economic situation in China evokes mixed feelings. The Voice of Russia’s Nikita Sorokin reports. The phrase ‘fiscal cliff’ was coined by Federal Reserve Chairman Ben Bernanke as he informed Congress a year ago about what could happen after the Budget Control Act came into effect on January 1st 2013. The events in the US and worldwide could get out of control once the Budget Control Act became effective, Bernanke warned. The Act became a compromise which made it possible to raise the US debt ceiling and avoid default. Secretary of the Treasury Tim Geithner warned on New Year’s Eve that the potential for raising the US debt ceiling further would be exhausted by February. On January 2nd, the Democrats and Republicans did strike a ‘fiscal cliff’ deal thereby postponing a decision on measures to curb the budget deficit for another two months. This means that there will be no increase in taxes or reduction in government spending until the end of February. The ‘fiscal cliff’ deal is but a delay of the inevitable, Investcafe’s expert Anna Bodrova said in a Voice of Russia interview. «The US state debt ceiling will have to be reconsidered. In the meantime, investors won’t buy anything until all these issues of concern are straightened out. The hottest discussions concerning these problems will likely take place at the end of January. In all likelihood, the Republicans won’t strike the same kind of deal with the Democrats they did in December. So far, they have been playing politics, nothing else.» The Republicans and Democrats pursue conflicting financial agendas. While the Republicans insist on spending cuts in order to reduce the budget deficit without increasing the tax burden, the Democrats want to secure this through cutting spending and raising taxes simultaneously. Should the Republicans and Democrats fail to strike a deal, tax exemptions will be abolished which will yield a total tax increase of $600 billion, or about 4% of the GDP, thereby putting the US on the brink of a new recession. Greece is evoking a lot of tension in the eurozone, Jaroslav Lissovolik of Deutsche Bank Russia said in a Voice of Russia interview. «The issue of Greece will be on the agenda of election campaigns in a number of EU countries this year, first of all Germany. If Germany says ‘no’ to further assistance to Greece, the issue of Greece will push all other financial issues into the background by the middle of the year.» Investcafe’s Anna Bodrova supports Lissovolik’s point of view. Greece is bound to come to the fore by May, after it has used up the bailout aid it received at the end of 2012. Athens will require an extra ˆ20–30 billion yet again. The German economy will no longer be able to afford such a burden. This means that Greece’s membership in the eurozone will top the agenda. China and Brazil are poised to demonstrate further economic growth in 2013. Russia may post a higher rate of economic growth in the year 2013, Jaroslav Lissovolik says. In his estimates, the Brent blend will cost $113–114 per barrel, which is a fairly comfortable rate for the Russian economy. Oil prices could rise even higher thanks to a number of risk-related factors that could come in sight. According to the Russian expert, a ‘fiscal cliff’ in the US, if it happens, will have a negative impact on all economies, Russia included. The looming threat of such a scenario should thus encourage Russia to take further steps to diversify its economy in order to become less dependent on market fluctuations and on problems experienced by the world’s major economies.

Agro Perspectiva

< Ukrainian Government makes amendments to order of labeling alcohol and tobacco products All news for
10.01.2013
UN reports drop in food prices for third consecutive month >

22.11.2024  
10:15 South Africa Sugar Production and Exports Estimated Down
19.11.2024  
23:04 Global Olive Oil Production Forecast to Rebound in 2024/25
22:47 Vitalii Koval discusses Ukraine's European integration with European colleagues
16:06 EBRD, European Union and United States help Kyiv prepare for winter
18.11.2024  
09:21 Agriculture Development Strategy 2030 – a roadmap to the EU
09:19 Ukrainian farmers have sown 96% of projected winter crop area
01.11.2024  
20:31 Ukraine has officially joined the International Fund for Agricultural Development
20:29 Ukrainian farmers harvested 63.7 million tonnes of grains and oilseeds
25.10.2024  
22:50 Agriculture hit hard: October port strikes rack up 30-40 million dollars in losses
21:04 Ministry of Agrarian Policy expects exports to rise in dollar terms
10:57 Ukrainian corn seed flows to Europe in further farm trade shift
24.10.2024  
23:02 Tree Nut Import Markets Highly Concentrated
23.10.2024  
11:18 Prime Minister UK warns Russian threat to global stability is accelerating as Putin ramps up attacks on Black Sea
15.10.2024  
09:35 Brazil Continues to Dominate Growth in Global Chicken Meat Exports in 2025
11.10.2024  
23:33 China Cottonseed Imports Show Strong Demand in Recent Years
20:30 India Removes Rice Export Ban, Spurring Additional Trade
30.09.2024  
17:27 List of agricultural machinery with cost compensation expanded to 11,300 items
29.09.2024  
20:21 1 in 11 people worldwide faced hunger in 2023, 1 in 5 in Africa If current trends continue, about 582 million people will be chronically undernourished in 2030, half of them in Africa
17:13 EU agri-food surplus increased in the first half of 2024
27.09.2024  
09:02 BASF presents new corporate strategy: BASF is setting a new direction for portfolio steering, capital allocation and performance culture
26.09.2024  
10:25 BASF sets new direction with corporate strategy and maintains high level of shareholder distributions
21.09.2024  
18:30 Three new sites recognized as Globally Important Agricultural Heritage Systems (GIAHS)
17.09.2024  
09:52 Cargill and Ducks Unlimited Working Together to Restore Watersheds Across North America
08:44 FAO calls for G20 cooperation as hunger targets continue to elude
06:40 FAO sees open trade as a cornerstone of global food security
13.09.2024  
07:08 U.S. Soybean Meal Hits 10‐Year High for Export Sales
12.09.2024  
21:26 U.S. Corn Exports Buoyed by Large Supplies
11.09.2024  
04:30 Global cereal production 2024 forecast on par with 2023 output, cereal trade likely to contract
06.09.2024  
11:35 FAO Food Price Index down marginally in August: lower sugar, meat and cereal quotations offset higher dairy and vegetable oil prices
10:34 Cargill acquires two US feed mills, strengthens production and distribution capabilities to grow with customers
05.09.2024  
09:23 PM: Plan to develop small generation facilities to reduce vulnerability to terrorism
30.08.2024  
05:03 Taras Vysotskyi discusses agricultural cooperation with Hungarian counterpart István Nagy
19.08.2024  
12:00 OTP BANK RECEIVED A $2.76 MILLION GRANT FROM USAID INVESTMENT FOR BUSINESS RESILIENCE ACTIVITY FOR CONCESSIONAL LENDING TO MICRO, SMALL, AND MEDIUM-SIZED ENTERPRISES
16.08.2024  
17:10 Cargill and Goanna Ag Pilot Irrigation Efficiency Technology on Mississippi Delta Cotton Fields
12.08.2024  
20:04 Ukraine Soybean Exports Forecast at Record in 2024/25
19:48 Domestic Demand and Trade Restrictions Reduce India Grain Exports
11.08.2024  
09:15 USAID Announces $3.9 billion in Direct Budget Support to the Government of Ukraine
09.08.2024  
17:41 USAID Announces $3.9 billion in Direct Budget Support to the Government of Ukraine
07.08.2024  
08:19 Turkey’s Mandarin Production and Exports to Rebound
26.07.2024  
09:28 Ongoing Economic Crisis in Argentina Impacts Dairy
15.07.2024  
10:28 Decline of China Pork Imports Continues in 2024
08:20 Lower Prices Propel Mexico 2023/24 Soybean Meal Imports
13.07.2024  
10:15 China Imports of Major Feed Grains at Record for Oct-May period
12.07.2024  
01:08 Climate risks projected to affect fish biomass around the world's ocean, FAO report says
06.07.2024  
10:15 Global cereal production 2024 forecast scaled up and now set to exceed the 2023 level
10:01 FAO Food Price Index stable in June
03.07.2024  
12:31 World pear production for MY 2023/24 is projected up more than 275,000 tons to 25.2 million
12:23 U.S. wheat exports are forecast to rebound by more than a million tons in the 2024/25 marketing year
01.07.2024  
08:58 World apple production for MY 2023/24 is forecast to rise more than 700,000 tons to 83.7 million
08:39 World coffee production for 2024/25 is forecast to rebound 7.1 million bags

Also available: 


NewsNews - News - News - News - News - News
BriefWeekly Reports - Free article
SubscriptionTariff - News&Reports
AdvertisingMagazine - Site
ConferencesForum AGRO-2013 - DAIRY WORLD-2008 - FERTILIZERS-2010
Statistics
For our clientsAgroNewsDaily - Ukrainian Grain&Oilseed Market - Fertilizers - Milk Monthly - Milk Weekly
About usAbout project - Contact
2002 -2024 © Agrarika, ltd.
tel.: +380 67 4473802; +380 67 5964652
e-mail: client@agroperspectiva.com