Credit Suisse corrects upwards its growth forecasts for the Swiss economy this year: according to the institute’s economists, the gross domestic product will increase by 1.5% this year, versus + 1.0% expected previously. The 2017 estimate remains unchanged, fixed at 1.5%. And the bank warned: stronger expansion is closely related to the immigrants, who are required to increase the workforce.
The Swiss economy will not get back into full swing in 2017 either, due to a lack of momentum among key growth drivers – in particular immigration. These are the conclusions of the Credit Suisse economists in the latest issue of "Monitor Switzerland".
Standard & Poor’s upgrades Russia’s outlook. Analysts believe that GDP should increase by 1.6% for the next three years, despite the sanctions imposed by Europe to Moscow to the Ukrainian question. "The exogenous risks for Russia – the note reads – have been reduced significantly in a context in which the economy of the country comes to terms with the double shock linked to lower oil prices and sanctions imposed by the European Union and the United States ".
The International Monetary Fund (IMF), after an year’s delay, has approved a $1 billion aid tranche for Ukraine from its $17.2 billion bailout program.
The IMF will disburse an additional $1 billion (889.3 million euros) to Kyiv, the fund’s first aid package for the country since the $17.5 billion program was held up in August 2015. The latest decision brings the total amount of aid disbursed to Ukraine by the IMF to $7.62 billion.
"The positive decision by the IMF is evidence that the world recognizes that reforms are happening in Ukraine, that real and positive changes are happening in Ukraine, and that the country is moving in the right direction," Poroshenko said in a statement.
The EU summit will begin tomorrow in Bratislava, but some key issues have already appeared on the table: "We need to protect our external borders but we must take joint responsibility", is the statement released to press by the German Chancellor Angela Merkel after the meeting with French President François Hollande in Paris.
The new Brazilian government headed by Michel Temer announced a plan of economic reforms to groped to revive the economy hit by the crisis without increasing public spending.
Temer announced a privatization plan: from the sale of four airports and two harbours to a series of projects such as the construction of new buildings and roads up to the creation of new mines to be entrusted to private companies. "The State can not do everything," the president said during the presentation of the reforms.
Brexit deal has not yet begun, but it already appears uphill, after the European Commission has appointed as negotiator few days ago, the former Belgian Prime Minister Guy Verhofstadt, the current leader of the liberals at the European Parliament.
In a tweet he said: "Brexit should be delivered before 2019, when EU politics enters into new cycle & the @Europarl_EN starts new mandate" and pointing out that if the UK wants to continue to have access to the common market, must also accept the freedom of movement of citizens, considering "inseparable" the four freedoms of movement of goods, services, capital and people.
The transaction, for "several billion euro" aims to support sustainable investment and was already announced in recent months by Prime Minister François Hollande. It will all be included in the next budget law.
Standard & Poor’s warned Britain to keep their feet on the ground after the recent positive data on the economy across the Channel because the recovery could be short-lived after the Brexit.
"All the celebrations about the economic rebound in August and that in the end life is back to ‘business as usual’ could turn out to be just a mirage in the long term," the ratings agency said, as reported by the Financial Times online.
For qualified investors / professional clients only
In order to proceed, you must confirm that you are a qualified investor based in Switzerland
The information contained in this section have been compiled or arrived at based upon information obtained from sources believed to be reliable and in good faith, but is not guaranteed as being accurate, nor is it a complete statement or summary of the securities, markets or developments referred to in the document.
Before investing in a product please read the latest prospectus carefully and thoroughly and note that funds mentioned herein may not be eligible for sale in all jurisdictions or to certain categories of investors The information mentioned herein is not intended to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. Past performance is not a reliable indicator of future results. The performance shown does not take account of any commissions and costs charged when subscribing to and redeeming units. Commissions and costs have a negative impact on performance. If the currency of a financial product or financial service is different from your reference currency, the return can increase or decrease as a result of currency fluctuations. This information pays no regard to the specific or future investment objectives, financial or tax situation or particular needs of any specific recipient. The details and opinions contained in this document are provided without any guarantee or warranty and are for the recipient's personal use and information purposes only
