policy

Turkey unveils plan to curb spending, increase efficiency

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Turkey unveils plan to curb spending, increase efficiency

Turkey announced a savings plan to rein in public spending and boost efficiency. The plan includes pausing new vehicle purchases and rentals, as well as construction of new buildings for three years. Funds allocated for state institutions’ purchases of goods and services will be reduced by 10% and those for investment will be cut by 15%. The number of new public sector personnel will be limited to the level of those retiring. The goal is to strengthen the economic foundations of the country by ensuring fiscal discipline and increasing efficiency in the public sector.

Immigration measures , ‘have brought positive results’

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Immigration measures , ‘have brought positive results’

– The state’s immigration measures have brought positive results
– There is a significant reduction in arrivals at present and return rates in April continued as before
– The EU would support Lebanon’s armed forces with equipment and training for border management.

Brainard Speaks on Upcoming Tax Debate

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Brainard Speaks on Upcoming Tax Debate

The text discusses the economic policies of the White House, highlighting the President’s plan to grow the economy from the middle out and bottom up. The President is committed to not raising taxes on anyone making less than 0,000 and will cut taxes further for workers and families, funded by asking corporations and the wealthy to contribute more.

Gold extends rally near $2,360 amid geopolitical risks

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Gold extends rally near $2,360 amid geopolitical risks

The price of gold (XAUUSD) rose to ,360 due to rising geopolitical tensions in the Middle East, boosting safe-haven flows.

FACTBOX-Key issues for South African voters in wide open 2024 election

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FACTBOX-Key issues for South African voters in wide open 2024 election

South Africans will vote in a national election on May 29 with uncertainty about the outcome, as polls suggest the African National Congress may lose its majority after 30 years in power. Key issues include high unemployment rates, sluggish economic growth, power cuts, corruption scandals, high rates of violent crime, and rising anti-immigrant sentiment. The government is working to address these issues, with a focus on job creation, economic growth, and tightening immigration laws.

Poland wants to fill the position of EU defense commissioner, says former PM

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Poland wants to fill the position of EU defense commissioner, says former PM

Poland may seek to fill the new position of a European commissioner for defense if it is created, according to European Parliament vice-president Ewa Kopacz. European Commission President Ursula von der Leyen has pledged to create the post if she wins a second term. Foreign Minister Radoslaw Sikorski has been mentioned as a potential candidate for the position.

NBR grants Tk1.25 lakh cr income, corp tax incentives

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NBR grants Tk1.25 lakh cr income, corp tax incentives

The National Board of Revenue (NBR) granted an estimated Tk 1,25,813 crore exemption on income and corporate taxes, which is 3.56% of the country’s GDP. Tk 40,498 crore was exempted at the individual taxpayer level, while Tk 85,314 crore was incentivized at the corporation level. The NBR provided Tk 15,315 crore in corporate tax exemptions for microcredit programs and Tk 8,380 crore for the power and energy sector. Tk 11,287 crore was exempted on remittance at the individual taxpayer level. The IMF has proposed to withdraw tax incentives on remittance and other types of investments. Industry insiders oppose the withdrawal of tax incentives for the information technology industry.

China and the opportunity from its development of new quality productive forces

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China and the opportunity from its development of new quality productive forces

China’s GDP grew by 5.2% last year, reaching 126 trillion yuan. Jinzhou, an old industrial city in northeast Liaoning Province, has found new growth momentum in the transformation and upgrading of traditional industries.

Trump again attacks New York prosecutor, floats economic plans at New Jersey rally

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Trump again attacks New York prosecutor, floats economic plans at New Jersey rally

Donald Trump attacked the Manhattan judge and prosecutor in his New York criminal trial at a rally in New Jersey. He accused them of working for President Joe Biden and portrayed the charges as politically motivated. Trump also hinted at possible economic policies, including a 200% tariff on some imported cars and a new tax cut if he returns to office. He also suggested that North Dakota Governor Doug Burgum could play a major role in his administration.

Options for Navigating the 2025 Tax Cuts and Jobs Act Expirations

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Options for Navigating the 2025 Tax Cuts and Jobs Act Expirations

The text discusses the upcoming expiration of the 2017 Tax Cuts and Jobs Act (TCJA) in 2025 and provides insight into various tax reform options. Lawmakers will need to decide on priorities for tax reform, including maintaining the TCJA policies or implementing fundamental reforms. The text outlines two alternative reform options that focus on better cost recovery for business investment, lower individual rates, and a broader tax base. These options aim to grow the economy, provide revenue, and avoid increasing the deficit. Lawmakers are encouraged to prioritize growth and fiscal responsibility in designing tax legislation to prevent a tax hike in 2025.