euro area should not fear a repetition of recession, but we have to beware of further strengthening of the euro. This view was voiced by board member of the European Central Bank (ECB) Ewald Nowotny.
regulator for the past eight months, keeps key interest rate at historic lows of 1% per annum, while continuing to assert that the euro-zone economy after the financial crisis to be a hard way, reports Reuters.
In turn, Nowotny said with optimism about the economic recovery which has emerged in the area of walking single European currency. “I think it unlikely threat to re-recession. We have entered a period of slow but sure economic recovery. If such a threat existed, and before it subsided,” - said the ECB Governing Council member.
He also tried to allay fears expressed by France, that the strengthening euro could affect economic growth in the euro zone. Nevertheless Nowotny warned that the growth rate of uniform European currency should notacquire the character of a sustainable trend. “At the moment such a problem does not exist. Not desirable, only long-term strengthening of the euro against major currencies,” - he stressed.
According to him, given the ECB”s growth forecast for euro-zone economy in 0,1-1,5% in 2010 may be reviewed at the direction of some improvement. Nowotny, who also heads the Bank of Austria, believes that the regulator should continue the gradual emergence of anti-crisis mode.
Recall, 3 December 2009 the ECB left its key interest rate refinance without changes - at historically low levels of 1%. “The Council of the ECB expects that the eurozone economy will grow at a moderate pace in 2010, although recovery is likely to be uneven, and the forecast for growth remains very uncertain,” - said while European Central Bank President Jean-Claude Trichet, commenting on the decision the rate. Read More
Growth of production in agriculture in Ukraine in 2009 amounted to 0,1%
Following in 2009, agriculture is the economic activity, which was recorded output growth of 0.1%. Told the Minister of Economy Bohdan Danylyshyn, the press service of the Ministry. This indicator is made against a background of extremely high comparative statistical base in 2008, when the growth rate was 17,1%.
Despite the economic crisis, according to the 2009 crop has been an increase in the volume of production of major crops as compared with the pre-crisis period. Thus, the gross grain harvest amounted to 46,0 million tons (against 33.3 million tonnes on average for 2000-2007.), Sunflower - 6.4 million tons (against 3.8 million tons), potatoes - 19,7 million tons (against 18.9 million tons), vegetables - 8.3 million tons (against 6.7 million tons), fruits and berries - 1.6 million tons (against 1.4 million tonnes).
However, according to preliminary data in July-November 2009/2010 marketing year, Ukraine took the Third place in the world in the export of grain and leguminous crops (11.3 million tonnes against 10.9 million tonnes in July-November 2008/2009 marketing year). In the structure of exports, along with traditional markets (Egypt, Iran, Syria, Turkey, Bangladesh and others), there is diversification of exports in developed countries (Japan, South Korea, Spain, Israel and others). Read More »