The International Monetary Fund (IMF) has revised down its growth forecast for Tunisia, for 2016, 2% against a forecast of 3%. In 2017, this rate could reach 3%, provides for the international monetary institution.

In its report on the world economic outlook, published April 12 in Washington, in the United States, the International Monetary Fund, it predicted an improvement in the inflation rate in Tunisia, from 4.9% in 2015 to 4% in 2016 and 3.9% in 2017.

As for the current account deficit, the report predicts a 7.7% rate this year and 3.5% in 2017, a decrease of 0.2 and 0.1 points compared to the estimates of the month of January 2015.

According to the report published twice a year the global economic recovery continues, but with a slow and fragile pace although, despite lower than expected, these are on the rise compared to 2015.

The international monetary institution forecasts were announced two days before the work of the Spring Meeting (spring meeting) of the IMF and World Bank. Tunisia is negotiating with the International Monetary Fund for a new credit line of four years, amounting to about 2.8 billion dollars.

(ITALPRESS/MNA).

Source: medNews

The National Investment Commission of Montenegro has recently adopted the single list of priority investment projects (Single project pipeline) in infrastructure, 64 in total, of which 10 of the energy sector, 9 in the transport sector, 30 environmental projects and 15 the social business sector. The Government pointed out that the list represents the strategic priorities of the country for the next 10 years regardless of the source or method of financing. In line with the new methodological approach of the framework for investment in the Western Balkans (WBIF) and at the request of the European Commission, with the drafting and adoption of the single list of investment projects all the steps prescribed by the methodology have been made for the choice of priority infrastructure projects and the conditions were created for potential co-financing of these projects through the funding of the Framework grant for investments for the Western Balkans. In the coming period, the European Commission will have the task of choosing which projects will be financed through the funds of the WBIF, bound for Montenegro, Albania, Bosnia and Herzegovina, Kosovo, Macedonia and Serbia in 2014-2020.

(ITALPRESS/MNA).

Source: medNews

There was presented by the Spanish Ministry of Economy and Competitiveness a new tool that provides a single source in the legislation on foreign investment in Spain. This is the Código de Inversiones Extranjeras en España in digital format in addition to those already available on the website of the Spanish Official Gazette (BOE initials in Spanish).

This new code is structured in three sections: the Spain international agreements and tax agreements relating to the promotion and reciprocal protection of investments; Legislation on trade applicable to foreign investment (capital movements and economic transactions, liberalization of foreign investment and exceptions to those arrangements, legislation on the prevention of money laundering and terrorist financing); Tax legislation of interest to foreign investors, and particularly the tax on the income of non-residents and to corporate tax.

It is an innovative tool which will be constantly updated and for which is expected in the future also the English version.

(ITALPRESS).

Source: medNews

According to the Israeli National Cyber Bureau, Israeli exports of cybertechnology in 2014 reached approximately 6 billion dollars of 8% on the total value of the global market amounted to 71.1 billion dollars.

Israel confirms, therefore, be the main protagonist for investment in the private sectors, defense and military. Thanks to this activity with significant funds spent on research and development of new products, and the country, however, one of those with the lower rate of cyber-technology crimes in the world. Cyber sector employs about 19,000 jobs representing 7% of the workforce in the field of high technology.

The National Cyber Bureau is an advisory body attached to the Office of the Prime Minister in charge of formulating proposals – even a legislative character and significance – as part of the national cyber security policy. In addition to this advisory function to the organs of government and legislation, and the engine of the motor cooperation between higher education system, industry and the private sector and central and local government offices that ensure the security of the country.

(ITALPRESS/MNA).

Source: medNews

Albania’s analysis of economic performance during 2015, the World Bank note a recovery in private investment, highlighting the growth of 13.6% in the fourth quarter of last year, imports of machinery and equipment. The 2015 was also a contraction of exports, fell 2% due to the fall in oil prices and minerals on international markets, but given that the actual imports fell, gross exports, however, have contributed positively to the rate growth. At the end of 2015 the rate of uncollected receivables decreased to 17.6% of the portfolio of loans, but increased again by 0.8% in January, according to data from the Albanian banks. The central bank expects that the rate of uncollected receivables may fall 15% by 2016, however, this process seems to be quite easy.

(ITALPRESS/MNA).

Source: medNews

There will be presented next week the renovations and improvements planned for Pafos, in view of the role of European Capital of Culture that the city will take over in 2017.

Current projects are estimated at 8.3 million euros and include the upgrading works on the squares: October 28, Dionysios Solomos and Kosti Palama. In the first phase there are also included the work of the old town (Ktima) and Kennedy Plaza. Projects must adhere to a specific timetable, having to be completed by January 1, 2017.

Other works of upgrading, due out next month, providing for the expansion of the municipal market, with the reorganization of the interior spaces and the construction of an outdoor plaza.

There are late the work of the Tomb of the Kings road, one of the busiest streets of the city, which will be part of a ring road around the city. The project has an estimated cost of over 10 million euros already allocated by the Ministry of Public Works.

(ITALPRESS).

Source: medNews

In 2015 drug sales in Lebanon reached 1.63 billion dollars, registering a growth of 6.53% compared to 2014. This upward trend is confirmed by the medium-term forecasts, which indicate expenditure the drugs of 2.20 billion dollars in 2020.

Currently Lebanon ranks first among the countries of the region for pharmaceutical expenditure, which currently accounts for 3.15% of GDP, projected in 2020, it will account for 22.3%.

The original pharmaceutical products prescribed by doctors, unlike the generic, still dominate the market: in 2015, sales of prescription products reached 800 million dollars, or 49% of total sales. In 2020, this ratio to increase by two percentage points and reached 51%.

In 2015, spending on generics totaled 494 million dollars, representing 30% of total sales, while spending on OTC drugs amounted to 339 million dollars, or 21% of the total. By 2020, spending on generic drugs is expected to increase, up to 33% of total sales, while the counter products is expected a decline of 15%.

The hospital sector in Lebanon is dominated by private clinics, which represent 90% of the sector. lL spending from the national service, the NSSF, National Social Security Fund, in any case represent more than 51% of total health expenditure and is expected to rise in accordance with the market trend and remained around the same level.

(ITALPRESS).

Source: medNews

Tunisia has tried, with the national industrial strategy 2016, to leave the conventional sectors to move towards promising sectors with a high added value, in order to create jobs for graduates.

The sectors of the textile and agro-food industry, the mechanical, electrical and mechanical, ICTs have been identified as priority areas.

According to the Treaty of the Tunisian enterprise, developed by the Institute of Arab heads of companies, it is necessary to move up the range with more services in the product.

The best example is the textile industry, where the government, in collaboration with professionals, has launched a specific support program to tackle the anomalies, increase the added value and avoid direct competition from Chinese products.

This program consists of 70% public aid for all intangible actions. It is divided into four axes, including the technical, financial, marketing and expansion of the priority technology investment program benefits (ITP) to specific intangible investments.

The technical assistance is to strengthen the awareness and technical advice to 600 companies, in providing guarantees, technical assistance and coaching to optimize production and increase investments, as well as in assisting companies to switch from subcontracting to co-contracting and the finished product and the elaboration of quality plans within companies.

(ITALPRESS/MNA).

Source: medNews

In 2015 (provisional data) Spanish exports reached 250.241 million euros, showing a growth of 4% over the previous year. The development of imports, with a value of 274.415 million euro was more content with an increase of 3.3%.

In commodity exports ranking Spanish transport vehicles occupy the first position with a value of 37.929 million euro and an increase of 14.6% over the previous year. In second place rank the chemicals in the broadest sense, which reached 31.462 million euro (+5.3%). With equally positive trends are the equipment and components for vehicles, the third component of the ranking, which marked an increase of 6.8%, totaling 17.066 million euros.

As for imports, chemicals with 40.09 billion euro and a 8.2% increase, heads the ranking. Followed by fuels and lubricants which recorded a decrease of 29.8%, rising by 52.857 million euro in 2014 to the current 37.1 billion euro. In third place are the equipment and components for vehicles (24,438 million euros) which, together with transport vehicles (18,131 million euros), recorded very dynamic trends with growth rates of 9.2% and 33.6% respectively.

For countries, the main clients of Spain were in order France, Germany and Italy, followed by the United Kingdom and Portugal. In the ranking of the top five Spanish export markets, the Italian has marked an increase of 7.2%, totaling 18.669 million euro. The trend was also positive for the remaining four destinations.

In the classification of the main suppliers for individual countries, Germany (35,925 million euros), France (29,756 million euros) and China (23,623 million euros) occupy the top three positions with the strong performance and double-digit growth for Chinese products (+18, 5%) and Germany (+ 11%). Italy follows with a value of 17.312 million euro and an increase of 9.4%. positive rates for the United States of America, the fifth supplier, which marked an increase of 23.7% to 12.845 million euros.

(ITALPRESS).

Source: medNews

The international rating agency Moody’s confirmed the rating of Israel A1 with a stable outlook, the reports the business daily Globes.

Among the reasons for the judgment and there are economic flexibility and the effectiveness of government action that gave constant proof of attention than the public debt improvement. Moody’s adds that, with geopolitical more stable condition – the Arab-Israeli conflict, the volatility of the situation in Syria are a source of constant tension, the judgment would have been better. In the assessment there is called the irreplaceable role of contributing to the solidity economic of the country of high technology sector and the impact of this field on exports, thanks to its investments in human capital and activities of research and development. Among the negative notes there are concerns related to the permanent closure of the agreement on the natural gas sector whose slowdowns may be harbingers of disaffections by investors in this field.

(ITALPRESS).

Source: medNews