Report: French cut spending, threatening country with recession

A report by "France 24" channel indicated that the inflation rate in France has reached 4.8% annually and continues to accelerate, while people are trying to buy less materials, which contributes to the threat of stagflation accompanied by stagnation.

Economist Stephanie Villiers told the channel: "Families prefer to save, knowing that higher prices will slow down their purchasing power for a long time, but this is what drives the economy. Therefore, to avoid stagflation, the central bank has two options: reduce asset purchases in the market or raise interest rates. ".

"The problem is that getting credit is getting more difficult, and that can lead to a drop in consumption," said economist Joanna Sitrak.


Report: French cut spending, threatening country with recession  A report by "France 24" channel indicated that the inflation rate in France has reached 4.8% annually and continues to accelerate, while people are trying to buy less materials, which contributes to the threat of stagflation accompanied by stagnation.  Economist Stephanie Villiers told the channel: "Families prefer to save, knowing that higher prices will slow down their purchasing power for a long time, but this is what drives the economy. Therefore, to avoid stagflation, the central bank has two options: reduce asset purchases in the market or raise interest rates. ".  "The problem is that getting credit is getting more difficult, and that can lead to a drop in consumption," said economist Joanna Sitrak.  It is noteworthy that after the Russian military operation in Ukraine, the West escalated sanctions pressure on Moscow. The restrictive measures primarily affected the banking sector and high-tech products. Several brands have announced their withdrawal from Russia. The Kremlin described the new sanctions as an economic war, but stressed its readiness for such a development of events.  Source: agencies   Germany and India sign $10.5 billion development deal  Germany and India have signed a series of agreements focusing on sustainable development in which the South Asian country will receive $10.5 billion by 2030 to promote the use of clean energy.  Germany and India sign $10.5 billion development deal"Asia Times": New Delhi surprises Washington with its position on Russia and its decision to adopt the ruble in trade The agreements were signed during Indian Prime Minister Narendra Modi's visit to Berlin, while German Chancellor Olaf Scholz seeks to woo India's support for the tough stance taken by Europe and the United States towards Russia over the military operation in Ukraine.  During the visit, Modi reiterated his call to both Russia and Ukraine to end the fighting, saying, "We believe that no side can win this war."  The agreements covered issues ranging from technical assistance to increasing the use of renewable energy and hydrogen, reducing greenhouse gas emissions, protecting biodiversity and improving agricultural land use.  Other areas of cooperation center on immigration, nuclear research, and the establishment of secure channels of communication between the two governments.  Schulz also invited India, Indonesia, Senegal and South Africa to attend the G7 meeting in Germany at the end of June.  Source: AP


It is noteworthy that after the Russian military operation in Ukraine, the West escalated sanctions pressure on Moscow. The restrictive measures primarily affected the banking sector and high-tech products. Several brands have announced their withdrawal from Russia. The Kremlin described the new sanctions as an economic war, but stressed its readiness for such a development of events.

Source: agencies


Germany and India sign $10.5 billion development deal

Germany and India have signed a series of agreements focusing on sustainable development in which the South Asian country will receive $10.5 billion by 2030 to promote the use of clean energy.

Germany and India sign $10.5 billion development deal"Asia Times": New Delhi surprises Washington with its position on Russia and its decision to adopt the ruble in trade
The agreements were signed during Indian Prime Minister Narendra Modi's visit to Berlin, while German Chancellor Olaf Scholz seeks to woo India's support for the tough stance taken by Europe and the United States towards Russia over the military operation in Ukraine.

During the visit, Modi reiterated his call to both Russia and Ukraine to end the fighting, saying, "We believe that no side can win this war."

The agreements covered issues ranging from technical assistance to increasing the use of renewable energy and hydrogen, reducing greenhouse gas emissions, protecting biodiversity and improving agricultural land use.

Other areas of cooperation center on immigration, nuclear research, and the establishment of secure channels of communication between the two governments.

Schulz also invited India, Indonesia, Senegal and South Africa to attend the G7 meeting in Germany at the end of June.

Source: AP
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