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Phillips noted Jamaica's balance of payments
Autor Wiadomość
PostNapisane: 10 kwi 2018, o 07:18 

Dołączył(a):3 kwi 2018, o 08:37
HANOI, Aug. 24 (Xinhua) -- Vietnam is expected to welcome about 6.5 million person-times of foreign visitors in the first eight months of 2016, posting a year-on-year increase of 25.4 percent, according to the National Administration of Tourism on Wednesday.

Among the figure, the country witnessed a jump of arrivals from China's Hong Kong and China mainland with respective climb of 92.8 percent and 57.9 percent year-on-year.

There has also been a rise in the number of visitors from South Korea (up 37.6 percent year-on-year), Thailand (34.9 percent), Italy (31.8 percent), Spain (27.6 percent), Laos (26.6 percent), New Zealand (26.4 percent), Russia (25 percent), and Sweden (24.3 percent) among others.

Vietnam only saw a decline of 12.9 percent year-on-year in number of visitors from Cambodia during eight-month period, reported the state-run news agency VNA.

Meanwhile, the number of domestic holiday-makers from January to August was estimated at 43.1 million.

The sector earned over 265.152 trillion Vietnamese dong (11.89 billion U.S. dollars) in the eight-month period, up 22.5 percent against the same time in 2015.

PARIS Gerardo Parra Authentic Jersey , June 26 (Xinhua) -- Disgraced former Tour de France champion Lance Armstrong will return to the world top road cycling race to ride two stages in the Massif Central region in July.

The 43-year-old Texan will join fellow cancer survivor and former England footballer Geoff Thomas, together with his team of 10 amateur riders in a charity race following the Tour route.

Thomas and his team are attempting to cycle each of the 21 stages a day before the professsional race in a bid to raise one million pounds (about 1.58 million U.S. dollars) for his Cure Leukaemia foundation.

Armstrong, who was stripped of his seven Tour titles and banned from organized sport for life for doping in 2012, will ride the 13th and 14th stages respectively on July 16 and 17 from Muret to Rodez and then to Mende, each a 178.5km ride.

"This is a charity bike ride Todd Helton Authentic Jersey , but we know Lance's involvement in Le Tour has split opinion, so we've tried to be as respectful as possible to the Tour de France itself in terms of the stages he will be riding," said Thomas.

Thomas was diagnosed with chronic myeloid leukaemia in 2003, but has been in remission since 2005, while Armstrong was diagnosed with testicular cancer in 1996 but he managed a healthy return to the sport following surgery and chemotherapy.

The Tour Nolan Arenado Authentic Jersey , which begins on July 4 in Utrecht, the Netherlands, was due to go over 3,344km in 23 days.

KINGSTON, June 17 (Xinhua) -- Jamaican Financial Minister Peter Phillips said Tuesday night that the country's economy has seen significant improvement Trevor Story Authentic Jersey , but he refused to compromise in the heated wage dispute between the government and public sector unions.

In a televised address to the nation, Phillips said progress has been made, especially in reducing debt since March 2013, when the country was "on the brink of bankruptcy" with a public debt of approximately 145 percent of the gross domestic product (GDP).

Phillips noted Jamaica's balance of payments deficit has improved from 13.4 percent of GDP in 2011-2012 to 5.3 percent in 2014-2015, the lowest in two decades Wade Davis Jersey , and that the net international reserves have exceeded 2.4 billion U.S. dollars, up from just 800 million dollars in 2013.

The inflation rate has declined to a 48-year low of 4 percent at the end of the 2014-2015 fiscal year and foreign direct investment amounted to approximately 700 million dollars, the second highest in the Anglophone Caribbean, he said.

As for the recently heated wage dispute, the minister declined to compromise Jon Gray Jersey , insisting the increase in public sector wage bills would damage Jamaica's economic reform program, which is being undertaken with support from the International Monetary Fund (IMF). ' In May 2013, Jamaica adopted an Extended Fund Facility, an IMF program under which some 932 million dollars were expected to be injected into the debt-ridden economy during a four-year term.

However, the IMF set a series of quantitative targets and structural benchmarks for the country. To secure the program Jake McGee Jersey , the Jamaican government has carried out a series of austerity fiscal measures over the past years, including a wage freeze for public sector workers.

When the multi-year wage freeze ended this March, the Financial Ministry proposed to increase public sector wages by five percent in the next two years. However, several labor unions insisted the adjustment should take inflation into account.

The government and the unions held several rounds of talks on the wage issue, but no consensus has been reached.

Phillips said the share of the public sector wage bill in overall government expenses has grown from 21 percent in 2010 to 31 percent in 2014 Chad Bettis Jersey , and that a reduction of the wage bill is essential to economic reform.

"Jamaica is still at a fragile point, halfway through the program with the IMF... What the government has offered in the wage negotiations is what we can afford at this time," he said.

The finance minister gave his address on the same day the IMF completed its eighth review of Jamaica's economic performance.

The IMF said the country's commitment to reform is strong and on track as all performance criteria have been met except the central government primary balance criterion, which was narrowly missed.

The agency projected that Jamaica would witness a two-percent economic growth in the 2015-16 fiscal year as a result of lower oil import costs, an improved business climate and strengthened business confidence.

However Ian Desmond Jersey , according to the IMF, the actual economic growth relies on proactive implementation of growth strategies, including lowering electricity costs, supporting small- and medium-sized enterprises, and reforming the financial sector.


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