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Barbados has been severely affected by the global economic crisis. In particular, the deep global recession has curbed tourism, affecting related activities such as construction and trade which, in turn, depressed aggregate demand and raised unemployment. As a result, economic activity contracted significantly in 2009 after remaining broadly stagnant in 2008.

The Executive Board of the International Monetary Fund (IMF) has completed the first review of the Democratic Republic of São Tomé and Príncipe's economic performance under a three-year Extended Credit Facility (ECF) arrangement. The completion of the review, which was undertaken on a lapse of time basis and effective on February 17, enabled the release of an amount equivalent to SDR 370,000 (about US$570,000), bringing total disbursements under the arrangement to SDR 740,000 (about US$1.13 million).

In a meeting of the European Bank Coordination Initiative held in Vienna, the parent banks of the ten largest foreign banks active in Serbia reaffirmed their commitments made in March 2009 to support their subsidiaries. These commitments have provided support for the Serbian economy during this downturn and an expression of confidence in its prospects when the recovery firmly takes hold.

New Delhi : The Union finance minister, Pranab Mukherjee's budgetary proposals for the year 2010-11 may help the economy to achieve the magic growth figure which is targeted at 8.5%, but little it can do to vanish the price inflation worries. In fact certain proposals in the Budget would lead to further rise in prices of essential commodities.

Finance Minister Pranab Kumar Mukherjee has demonstrated clearly how he can React to adverse situations and how he can think clearly in favorable economic climate. Last year he presented a budget that was best suited to the circumstances of a global meltdown and how impact was being assessed on the Indian economy.

LUCKNOW: Despite ideological differences, the leaders of opposition parties in Uttar Pradesh are united in opposing the 'emergency' imposed on the State by the Mayawati Government.

The Union Budget for 2010/11, presented by the Finance Minister Mr. Pranab Mukherjee, effects a partial rollback of fiscal stimulus, except for small-scale and export and other weaker sectors, while raising additional revenue to meet higher plan and non-plan expenditures and to re-launch the fiscal consolidation process.

The good news is that there are no major budget blues for the corporate sector. The budget provisions for 2010-11 do not have anything much for the corporate sector and the stock market to specially cheer about though the market reacted otherwise, initially. The budget has been more or less on expected lines.

New Delhi: The Finance Minister, Shri Pranab Mukherjee, while presenting the Union Budget 2010-11, in the Lok Sabha today, has announced three major initiatives for the unorganized sector. The National Social Security Fund for unorganized sector workers is to be set up with an initial allocation of Rs. 1000 crore. This fund will support schemes for weavers, toddy tappers, rickshaw pullers, bidi workers etc.

New Delhi: Shri Pranab Mukherjee, Union Finance Minister, while presenting the Union Budget in Lok Sabha today, said that the government intends to follow a four-pronged strategy covering (a) agricultural production; (b) reduction in wastage of produce; (c) credit support to farmers; and (d) a thrust to the food processing sector.