Word: gdp
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...India, only 10% of the land is irrigated, despite continual pleas from farmers for the local government to provide a more comprehensive watering system. Farmers' federation leader Vijay Jawandhia estimates that up to 40% of Vidarbha's soybean and cotton crop is already lost. With 22% of India's GDP coming from agriculture, chief economist Subir Gokarn at ratings agency Crisil predicts that crop losses will cut the country's growth rate from 8.2% last year to no more than 5.75% this year. But given that three-quarters of India's 1 billion citizens live off the land, the human...
...cost in human suffering is incalculable, but plenty of economists have tried to estimate the financial impact of traffic accidents. The World Bank puts annual losses worldwide due to traffic injuries at 1-2% of global GDP. In Asia, that figure might climb much higher, partly because three-quarters of those injured in the region are younger than 45, which means that Asia's most productive workers are being decimated. According to a recent Asian Development Bank (ADB) paper, the 11 country members of the Association of Southeast Asian Nations (ASEAN) saw a total loss of some $11 billion...
...country. One university researcher here estimates that 90 percent of the population lives below the government poverty line. And that figure would be much higher if it wasn’t for the fact that remittances sent from Lebanese abroad make up 24 percent of Lebanon’s GDP. In a dumb tourist move, I was complaining to a group of Lebanese friends about the measly $600 a month I get paid at the paper where I work, only to find out that that was more than what many of their fathers made...
...seems to be caught in what the Kerry-Edwards campaign is calling a "middle-class squeeze" as the duo tries to win votes in swing states like Ohio. How real is it? There's supposed to be an economic recovery under way. But the numbers paint a confusing picture. GDP grew 3.9% in the first quarter, and corporate profits rose 1.7%. Most important, payrolls have grown by 1.3 million jobs since January. Consumer confidence is up. But job growth slowed in June, and the new ones haven't been enough to meet the supply of 8.2 million out-of-work...
...will be able to retain the rebate," says Robert Prior-Wandesforde, a European economist at HSBC. Last week the European Commission also celebrated a court ruling confirming that members must abide by the stability and growth pact, which mandates that euro-zone countries keep deficits under 3% of GDP. Germany and France - the euro zone's biggest economies - have already violated the pact (and look set to do so again this year). Last November, E.U. finance ministers effectively torpedoed proposed action against France and Germany; last week, the European Court of Justice ruled that they should not have done...