Tag: Boost

India-UAE Business Council launched to boost bilateral trade and investment

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Dubai: Marking the first anniversary of the India-UAE Comprehensive Economic Partnership Agreement (CEPA), the two sides have launched the UAE chapter of their joint business chamber to bolster economic ties and facilitate enhancing bilateral trade and investment.
India and the United Arab Emirates (UAE) inked a CEPA on February 18 last year to boost trade ties following a virtual summit between Prime Minister Narendra Modi and Crown Prince of Abu Dhabi Sheikh Mohammed bin Zayed Al Nahyan.
The UAE India Business Council – UAE Chapter (UIBC-UC) was launched on Saturday by Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, in the presence of Ambassador of India to the UAE, Sunjay Sudhir, Consul General of India in Dubai Aman Puri and founding members of the UBIC-UC.
The two nations aim to increase bilateral trade to USD 100 billion and attract USD 75 billion in investment from the UAE to India.
The UIBC-UC is poised to play a crucial role in supporting both governments in achieving these objectives and maximising the potential of the UAE-India relationship.
By leveraging the strong bond between the two nations, the council brings together key partners and stakeholders from both nations and will serve as a valuable source of policy guidance, fostering innovative collaboration between Emirati and Indian businesses.
Speaking on this occasion, Minister Zeyoudi highlighted that the establishment of the UAE Chapter of the UAE India Business Council marks a significant moment in the deepening of the relationship between the United Arab Emirates and India.
He also mentioned that the Council will play a critical role in supporting the two governments in their joint mission to boost bilateral trade and investment. He expressed confidence that it will catalyse innovative collaboration between our two great nations.

Ambassador Sudhir said, “The launch today marks a significant milestone in the strengthening of the relationship between the United Arab Emirates and India.”
The UIBC-UC will serve as the counterpart organisation to the UIBC India Chapter, which was established in New Delhi on September 3, 2015, by Sheikh Abdullah bin Zayed Al Nahyan, UAE Minister for Foreign Affairs and International Cooperation, and Sushma Swaraj, then Minister of External Affairs of India.
The UAE India Business Council – UAE Chapter (UIBC-UC) has been set up with the approval of UAE’s Ministry of Foreign Affairs and International Cooperation and the Ministry of External Affairs, Government of India.
The UIBC-UC will operate under the supervision of the Federation of UAE Chambers of Commerce & Industry and has been registered as a legal and financial entity with the Dubai Chamber of Commerce. The council will have its office in Abu Dhabi and will be a pan UAE body focussing on promoting trade and investment relations between the UAE and India. Membership to UIBC-UC will be by invitation only, and institutional members will be invited over time.
Faizal Kottikollon, Chairman, of KEF Holdings, who has been appointed as the Chairman of UIBC-UC, said the council’s focus will be to identify significant strategic projects that can be undertaken by both countries.
“This includes investments in large infrastructure projects in India, advancements in manufacturing and technology, and providing Indian manufacturers with the ability to use the UAE as a base for their global expansion,” he said.
Rizwan Soomar, CEO & MD (India Subcontinent) at DP World, will serve as the Co-Chairman of UIBC-UC.
Major General (Retd.) Sharafuddin Sharaf, who serves as the Chairman of the UIBC India Chapter, will also hold the position of Vice Chairman of UIBC-UC.
The founding members of the UIBC-UC from the UAE side are Mubadala Sovereign Wealth Fund of the UAE, Wizz Financial, DP World, EMAAR, Emirates Airlines, and Emirates NBD Bank.
From the Indian side, large conglomerates such as TATA, Reliance, and Adani as well as tech innovators like OLA, Zerodha, Udaan, and EaseMyTrip along with prominent Indian entrepreneur led Corporations based in the UAE such as KEF Holdings, Buimerc Corporation, Apparel Group, EFS and Lulu Financial are represented.
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#IndiaUAE #Business #Council #launched #boost #bilateral #trade #investment
( With inputs from www.siasat.com )

February 19, 2023
Economic pact with UAE given boost to Indian entrepreneurs: PM Modi

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New Delhi: Prime Minister Narendra Modi on Sunday said that the comprehensive economic partnership agreement (CEPA) with UAE has given a boost to Indian entrepreneurs.
Modi said in a tweet that it has also deepened India’s ties with UAE.
He was responding to a tweet by commerce minister Piyush Goyal, who had said on Saturday that February 18 marked one year of signing of India-UAE CEPA.
Goyal along with UAE’s minister of state for foreign trade Thani Al Zeyoudi had co-authored an article on completion of one year of CEPA.
Goyal even tagged the article with his tweet.
“One year since we signed the #IndiaUAECEPA. In this article jointly written with UAE Minister of State for Foreign Trade @ThaniAlZeyoudi, we highlight how the deal is a turning point in our economic ties & a model for cross-border collaboration,” Goyal had tweeted on Saturday.
Goyal along with UAE’s minister wrote in the article that “by reducing tariff on more than 80 per cent of product lines, enhancing market access to service exports and providing platform for SMEs to collaborate and scale, both the countries have envisioned a new era of opportunity in an uncertain world”.

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#Economic #pact #UAE #boost #Indian #entrepreneurs #Modi
( With inputs from www.siasat.com )

February 19, 2023
UAE-India Business Council launched to boost bilateral trade

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Dubai: Marking the first anniversary of India-UAE Comprehensive Economic Partnership Agreement (CEPA), the top business houses of India and UAE came together to open the UAE India Business Council – UAE Chapter (UIBC-UC), to bolster economic ties and facilitate shared goal of enhancing bilateral trade and investment.
The UIBC-UC was launched by UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi, in the presence of Ambassador of India to the UAE Sunjay Sudhir, Consul General of India in Dubai Aman Puri and founding members of the UBIC-UC.
The founding members of the UIBC-UC from the Indian side, large conglomerates such as TATA, Reliance, and Adani are represented, as well as tech innovators like Ola, Zerodha, Udaan, and EaseMyTrip, along with prominent Indian entrepreneur-led corporations based in the UAE such as KEF Holdings, Buimerc Corporation, Apparel Group, EFS and Lulu Financial. From the UAE side are: Mubadala – Sovereign Wealth Fund of the UAE, Wizz Financial, DP World, EMAAR, Emirates Airlines, Emirates NBD Bank.
The two nations aim to increase bilateral trade to $100 billion and attract $75 billion in investment from the UAE to India. The UIBC-UC is poised to play a crucial role in supporting both governments in achieving these objectives and maximising the potential of the UAE-India relationship. By leveraging the strong bond between the two nations, the council brings together key partners and stakeholders from both nations and will serve as a valuable source of policy guidance, fostering innovative collaboration between Emirati and Indian businesses.
Speaking on the occasion, Thani bin Ahmed Al Zeyoudi highlighted that the establishment of the UAE Chapter of the UAE India Business Council marks a significant moment in the deepening of the relationship between the United Arab Emirates and India. He also mentioned that the Council will play a critical role in supporting the two governments in their joint mission to boost bilateral trade and investment.
Indian Ambassador to the UAE, Sunjay Sudhir, said, “The launch today marks a significant milestone in the strengthening of the relationship between the United Arab Emirates and India. I extend my sincere congratulations to all the founding members of the UAE India Business Council and look forward to seeing the Council’s initiatives drive greater prosperity for both nations.”
The UIBC-UC will serve as the counterpart organisation to the UIBC India Chapter, which was established in New Delhi on September 3, 2015, by UAE Minister for Foreign Affairs and International Cooperation Sheikh Abdullah bin Zayed Al Nahyan and then Indian Foreign Minister Sushma Swaraj, during the 11th Session of the India-UAE Joint Commission Meeting.
Chairman KEF Holdings, Faizal Kottikollon, who has been appointed as the Chairman of UIBC-UC, said that “The council’s focus will be to identify significant strategic projects that can be undertaken by both countries. This includes investments in large infrastructure projects in India, advancements in manufacturing and technology, and providing Indian manufacturers with the ability to use the UAE as a base for their global expansion.”

CEO & MD (India Subcontinent) at DP World, Rizwan Soomar, will serve as the Co-Chairman of UIBC-UC.
Major General (Retd) Sharafuddin Sharaf, who serves as the Chairman of the UIBC India Chapter, will also hold the position of Vice Chairman of UIBC-UC.
On the occasion, Consul General of India in Dubai, Aman Puri, expressed his gratitude to the Founding Members of the UAE India Business Council (UIBC-UC) for their support in establishing the organisation. He highlighted the platform’s significance in providing a space for UAE and Indian businesses to collaborate, identify new opportunities, and overcome existing challenges.
Vikas Anand, who brings 25 years of experience in banking and was recently the group head of operations for First Abu Dhabi Bank, has been named as the Chief Operating Officer for UIBC-UC and will be responsible for advancing the Council’s mission to strengthen bilateral trade and commerce between the two nations.
The launch of the UAE Chapter on Saturday coincides with the first anniversary of the signing of the Comprehensive Economic Partnership Agreement (CEPA) between the two countries on February 18, 2022, underscoring the deep commitment of both nations to strengthening their economic and business relations.
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#UAEIndia #Business #Council #launched #boost #bilateral #trade
( With inputs from www.siasat.com )

February 18, 2023
Elon Musk reportedly forced Twitter algorithm to boost his tweets after Super Bowl flop

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Twitter chief executive Elon Musk rallied a team of roughly 80 engineers to reconfigure the platform’s algorithm so his tweets would be more widely viewed, tech news site Platformer has reported.
A disgruntled Musk called for an emergency effort after a tweet he sent during Sunday’s Super Bowl game failed to achieve as much engagement as a tweet from Joe Biden, interviews and internal documents reviewed by Platformer have revealed.
The effort was sparked when a tweet from the president, who has 37m followers, generated nearly 29m impressions while a similar tweet from Musk – who has 128m followers – generated little more than 9.1m impressions.
A Twitter employee and cousin of Elon Musk, James Musk, posted urgently in the company Slack at 2.30am the following Monday morning, asking all employees who can code to participate. “Any people who can make dashboards and write software please can you help solve this problem,” he wrote. “This is high urgency.”
Engineers then deployed a new algorithm that artificially inflated Musk’s tweets by a factor of 1,000, ensuring that more than 90% of Musk’s 128.9m followers see them. Many who do not follow Musk are also being served his tweets in their feed through the “For you” tab of the app’s home page, which curates tweets from a number of accounts, including those a user is not following.
Elon Musk checks his phone during Super Bowl LVII in Glendale, Arizona. Photograph: Caitlin O’Hara/Reuters
Musk seemed to publicly confirm the move, in his own way, posting a meme about forcing followers to read his tweets. He also told followers to “stay tuned” while Twitter makes adjustments to the algorithm.
The decision to devote internal resources to promoting his own tweets comes amid ongoing reports about Musk’s obsession with his own impressions on the platform. Last week, a report from Platformer also revealed Musk had fired a principal engineer at Twitter who told him views on his tweets had decreased organically, with interest in the erratic CEO waning. Users have complained since Twitter made its “For you” page the default feed on the platform in January that Musk’s tweets were appearing more frequently.
Musk, who purchased Twitter in October 2022 for $44bn, has made a number of additional changes to the platform in the intervening months, allowing the return of previously banned accounts like that of Donald Trump, changing the process for Twitter verification, and revoking free access to the platform’s API, or application programming interface.

Amid ongoing criticisms of his decisions as chief executive, Musk has promised to step down and find a replacement as soon as later this year. Current employees have described a harrowing environment at the company, which laid off nearly half its workforce in November 2022. At the time, Musk defended the cuts and other cost-cutting measures, stating the company was losing $4m per day.

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#Elon #Musk #reportedly #forced #Twitter #algorithm #boost #tweets #Super #Bowl #flop
( With inputs from : www.theguardian.com )

February 16, 2023
Rs 176 Cr Project Approved To Boost Fish Production Across J&K

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JAMMU: Jammu & Kashmir has abundant water resources and great potential for fish and fisheries development. However, due to some challenges like outdated infrastructure, inbreeding depression, limited variety of aquaculture species, fragile aquatic ecosystems and lack of modern aquaculture technologies, the Fish farming was not progressing.
Now, to overcome these challenges and make Fish farming a prosperous sector, the UT government has approved a Rs. 176 crore project to boost fish production. The project involves importing genetically improved fish seed, upgrading existing hatcheries and fish rearing units, introducing species diversity in aquaculture through R&D, and commercializing trout and carp fish production using modern technologies such as RAS and Biofloc.
Additional Chief Secretary (ACS), Agriculture Production Department (APD), Atal Dulloo, who leads the Agriculture Production Department of J&K, said that the aim of the project is to promote sustainable development of fisheries for nutritional security, employment generation, and economic prosperity in the UT of J&K. The programme aims to increase fish production, productivity, and growth rate, as well as to strengthen social security and welfare measures for the fishing community, facilitate improved post-harvest practices and value addition, and create market linkages, he added.
“One of the prime requisites for successful aquaculture is the availability of good quality fish seed. The Technical Programme under the project includes importing genetically improved varieties of fish seed to ensure the overall success of fish farming practices. Quality fish seed determines the health, size, growth rate, disease resistance, and other physical and physiological characteristics of the fish, which in turn affect the overall fish production,” Dulloo said.
The ACS further remarked that in addition to importing genetically improved fish seed, the Technical Programme also aims to establish new hatchery units and upgrade existing ones on modern scientific lines. This will improve the quality and quantity of fish seed available for fish farming, and enable the production of a more diverse range of aquaculture species, he added.
Notably, under the programme, the UT government also plans to establish 10 new trout hatcheries and two carp hatcheries, and upgrade 8 carp and 10 trout units. ‘Technological Interventions for Fish Seed and Trout Production in UT of J&K’ is one among the 29 projects, which were approved by the Jammu and Kashmir administration after being recommended by the UT Level Apex Committee for holistic development of Agriculture and Allied Sectors in UT of J&K.
The prestigious committee is headed by Dr Mangala Rai, Former DG ICAR and has other luminaries in the field of Agriculture, Planning, Statistics & Administration like Ashok Dalwai, CEO NRAA; Dr. P. K Joshi, Secretary, NAAS; Dr. Prabhat Kumar, Horticulture Commissioner MOA & FW; Dr. H. S Gupta, Former Director, IARI; Additional Chief Secretary, Agriculture Production Department, J&K, Atal Dulloo, apart from the Vice Chancellors of the twin Agriculture Universities of the UT.
The project also includes introducing species diversity in aquaculture through research and development (R&D). The UT government recognizes that a limited variety of aquaculture species is a challenge to the sector, and aims to address this through R&D. The programme will develop and introduce new species of fish for aquaculture, which will not only enhance the variety of fish available for farming, but also reduce the risks of inbreeding depression.

To commercialize the trout/carp fish production, modern technologies like RAS/Biofloc will be introduced at a large scale. These technologies will ensure that the fish are raised in a controlled and optimal environment, which will increase their growth rate and size. RAS (Recirculating Aquaculture System) technology involves the reuse of water by removing waste and re-oxygenating the water, making it a more sustainable and eco-friendly option for fish farming. Biofloc technology is a culture system that involves the conversion of waste into protein-rich feed for fish, which reduces the cost of feed ingredients and promotes sustainable fish farming.
The Technical Programme aims to revolutionize fish farming in the UT of J&K with ambitious targets for fisheries development. The program seeks to increase annual trout production by 2.5 times, from 1,663 to 4,000 tonnes, and add an additional 1,200 tonnes of carps every year. By doing so, the program intends to convert the current import of around 5,000 tonnes of fish from other regions into local commerce, generating 6,050 jobs and 150 enterprises. The program also aims to boost the growth rate of the fish sector from 3.28% to 40%, and increase revenue from INR 105.55 crores to INR 589 crores per year.
The successful implementation of the project will not only promote sustainable development of fisheries but also contribute to nutritional security, employment generation, and economic prosperity in the UT of J&K. It will also strengthen social security and welfare measures for the fishing community, by ensuring that the benefits of the programme reach the grassroots level. The Technical Programme has been designed to address the challenges faced by the sector, and provide a comprehensive solution to improve fish and fisheries development in the UT of J&K. By leveraging modern technologies, R&D, and market linkages, the programme aims to create a self-sustaining and vibrant aquaculture industry in the region.
The success of the project will not only benefit the fishing community and the aquaculture industry, but also contribute to the larger goal of sustainable development in the region. The programme will enhance the availability of nutritious and affordable fish for the local population, which will improve their food security and nutrition. It will also create job opportunities and boost the local economy, which will contribute to the overall development of the region. The UT government’s initiative to promote fish and fisheries development through technological interventions is a step in the right direction, and it is hoped that it will serve as a model for other regions to follow.

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#Project #Approved #Boost #Fish #Production
( With inputs from : kashmirlife.net )

February 14, 2023

IITs get major boost of Rs 9600 crores in Union Budget 2023, Rs 8k crores allocated to grants – TheNewsCaravan Newspaper

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Indian Institutes of Technology, IIT has got a major boost with the unveiling of the Union Budget 2023. As per the Budget 2023, IIT has received a total outlay of around Rs 9,600 crores. Out of this, around Rs 8,000 crores have been allocated to the institutes as grants.

Ministry of Education has a total outlay of Rs 1.13 lakh crores approximately. Out of these, the Department of Higher Education has received a total of Rs 44,094.62 crores. Under the outlay for the Higher Education Department, the budget for IIT stands at Rs 9,661.50 crores.

Grants to IIT	Rs. 8791.50 crores
Interest under HEFA loan	Rs. 270 crores
Repayment of Principal of HEFA Loan	Rs. 300 crores
Total support to IIT	Rs. 9361.50 crores
IIT Hyderabad (EAP)	Rs. 300 crores
Total Outlay	Rs. 9661.50 crores

As mentioned, the majority of the funds allocated to IIT are towards the grants allocated to support the leading engineering and technology institutes. A total of Rs. 8791.50 crores have been allocated just to grants.

What will these funds be used for?

With IITs getting a major boost in funds, questions arise as to where these funds will go and how would they be utilised. It is expected that the budget allocated to IIT would likely work towards promotion and support towards enhancing Research and Development at these institutes.

During her speech, Finance Minister Nirmala Sitharaman also shared details regarding the Lab Grown Diamonds scheme, which would be given to one IIT over a period of five years. Hence, the boost in funds is expected to be directly in relation with growth of R&D.

Another way these funds could be utilised would be to promote engineering and technical education amongst India and abroad. The government has revealed plans to set up IITs abroad in countries such as United Arab Emirates, Malaysia and Jamaica.

While they remain one of the top institutes, IITs tend to be short staffed. Hence, the funds are also expected to be used for recruitment of teachers and professors at IITs across India.

Union Budget 2023 was presented on February 1, 2023 by Finance Minister Nirmala Sitharaman in the Lok Sabha. Under this new budget for ‘Amrit Kaal’, Education has received the maximum outlay.

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#IITs #major #boost #crores #Union #Budget #crores #allocated #grants #TheNewsCaravan #Newspaper

( With inputs from : www.TheNewsCaravan.com )

February 2, 2023

Capitol Police boost security preparations ahead of Tyre Nichols footage release

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Five Memphis police officers were charged with murder and other crimes Thursday related to the death of Nichols, who died on Jan. 10. Nichols, who is Black, was stopped by police on Jan. 7. The officers, all of them also Black, were fired by the department last week.
Officials are expected to release video footage from the beating on Friday, though it’s not yet clear how extensive the disclosure will be.
Rep. Steve Cohen (D-Tenn.), who represents Memphis, discussed the potential for protests on the floor Thursday, urging “peaceful” demonstrations.
“It could be a situation where people want to exercise their First Amendment rights to protest actions of the police department, and people should. But they should be peaceful and calm … I pray for my city,” Cohen said in a floor speech on Thursday.
D.C. police said they are also “fully activating” the force on Friday in preparation for possible protests. The House is expected to be in session for several hours Friday as they complete consideration of an energy bill related to drilling on public lands. The Senate will be out of session.
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#Capitol #Police #boost #security #preparations #ahead #Tyre #Nichols #footage #release
( With inputs from : www.politico.com )

January 27, 2023
J&K Govt Approves Rs 39 Cr Mega Project To Boost Commercial Floriculture

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SRINAGAR: Jammu and Kashmir Government has approved a mega Rs 39-crore project with an avowed objective of exploring the huge floriculture potential keeping in view the varied agro-climate and ecological conditions in the Union Territory for giving boost to flower production.
“The project is expected to provide direct employment to 2000 besides creation of 330 new enterprises”, Atal Dulloo, Additional Chief Secretary, Agriculture Production Department said.
He said Jammu and Kashmir has long been known for its rich and diverse agri-ecozones, making it an ideal location for growth of a thriving floriculture industry. Abundantly endowed with natural wealth and scenic splendor, the UT is completely conducive for cultivation of a wide range of flowers. The aesthetic value of flowers, their increasing use in the social events and potential of generating more money are attracting prospective entrepreneurs towards floriculture industry.
Splendid gardens and parks in J&K are being enjoyed by the tourists from across the globe.
However, despite this potential, the sector has not been able to make a significant contribution to the horticulture economy in the region so far. The main reasons for this are the small number of growers and enterprises, lack of aggregation platforms and weak post-harvest and branding efforts. And, to fill up these gaps the J&K government recently approved this ambitious project to boost commercial floriculture in the region.
aromatic flower and bulb/seed production. It also aims to produce over 27 crore ornamental nursery plants and 4000 L of aromatic oils worth Rs 4.8 crore annually (from 5th year) and undertake skilling of 4000 growers in cluster mode. The total outlay of the project is Rs. 39.03 crore.
Overall, the new project represents a major step forward for the floriculture industry in J&K. With a focus on cluster-based area expansion, technology upgrades, post-harvest and marketing efforts, the project has the potential to help establish a sustainable and profitable floriculture industry in the region. It is hoped that this project will help to create new opportunities for growers and entrepreneurs, and will contribute to the overall economic development of J&K.
“Promotion of Commercial Floriculture in UT of J&K” is one among the 29 projects, which were approved by the Jammu and Kashmir administration after being recommended by the UT Level Apex Committee for holistic development of Agriculture and allied sectors in UT of J&K. The prestigious committee is being headed by Dr Mangala Rai, Former DG ICAR and has other luminaries in the field of Agriculture, Planning, Statistics & Administration like Ashok Dalwai, CEO NRAA, Dr. P. K Joshi, Secretary, NAAS, Dr. Prabhat Kumar, Horticulture Commissioner MOA & FW, Dr. H. S Gupta, Former Director, IARI, Atal Dulloo, Additional Chief Secretary, Agriculture Production Department apart from the Vice Chancellors of the twin Agriculture Universities of the UT.

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#Govt #Approves #Mega #Project #Boost #Commercial #Floriculture
( With inputs from : kashmirlife.net )

January 26, 2023
Oracle introduces new logistics capabilities to boost global supply chains

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New Delhi: Cloud major Oracle is introducing new logistics capabilities within its Fusion Cloud Supply Chain and Manufacturing (SCM) offerings, that will help customers cut costs, improve accuracy and automate regulatory compliance.
Logistics leaders are overwhelmed with a recent buildup of port and shipping delays, fluctuating fuel costs, and evolving trade regulations while also being at the forefront of efforts to reduce carbon emissions of goods in transit.
“The last few years tested the flexibility of global logistics operations and many organisations have struggled to keep pace with the changing market,” said Derek Gittoes, vice president of supply chain management product strategy, Oracle.
“With Oracle Transportation Management and Oracle Global Trade Management, organisations can rapidly adapt to changes in their supply chain and logistics network,” he added.
The new capabilities help customers validate Certificate of Origin, reduce tariffs, and enter new markets.
With a deep view into the bill of materials, Trade Agreement Qualification enables customers to comply with labor regulations and prove where goods were produced via auditable records, said Oracle.
“As an increasing number of Indian businesses continue to expand overseas, the ability to respond quickly to changing demand, supply, and market conditions can be a huge competitive advantage,” said Kaushik Mitra, senior director, Cloud ERP, Oracle India.
With the new logistics capabilities, supply chain professionals will gain real-time insights across the entire supply network to make critical business decisions and respond to any global change with confidence, Mitra added.

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#Oracle #introduces #logistics #capabilities #boost #global #supply #chains
( With inputs from www.siasat.com )

January 25, 2023
IMF urges Finland to boost sustainability of public finances

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Helsinki: Finland has been urged to boost the sustainability of its public finances in a new report published by the International Monetary Fund (IMF).
The IMF, in its annual assessment, also urged Finland to reduce its debt ratio in the medium-term to prepare for an ageing population, Xinhua news agency reported.
The Finnish economy recovered quickly from the Covid-19 pandemic, supported by government measures, the IMF said. However, the Ukraine crisis has weakened the country’s economic outlook, and increased pressure on public finances.
Economic activity is expected to stall in 2023, the IMF said. Further contraction in private demand due to inflation is expected, and this can be only partially offset by higher public spending.
In 2024, the country’s growth is projected to return to a subdued trend rate of around 1.25 per cent, reflecting adverse demographics and low productivity growth.
Therefore, IMF said that in 2023, Finland should tighten fiscal policy by better targeting support measures related to energy prices, in order to curb inflationary pressures.
Finland is three months away from a general election, with the Finnish political scene split along classic left-right lines on taxation and labour policy.

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#IMF #urges #Finland #boost #sustainability #public #finances
( With inputs from www.siasat.com )

January 24, 2023