Macroeconomic Stability Sample Clauses

Macroeconomic Stability. The real GDP growth accelerated further and achieved annual growth in 2018 at 2.7%, up from 0.2% in 2017. The growth was driven by drastically increase in exports – 15.3% y-o-y, whereas investment grew only modestly – 1.6% in annual terms. Imports grew by 9% y-o-y. The economic growth largely benefited from the higher household spending and public consumption, which increased in particular due to higher public wages. The unemployment remains high though improved in 2018. The unemployment rate dropped to 20.7% in 2018, which is a 1.6pp decrease from the previous year. The situation of young workers (15-24years) improved. Their unemployment rate stood at 44% in fourth quarter and 45.4% for the whole year (-2.8pp) of 2018. Nevertheless, the issue of the high unemployment among women and young people needs to be addressed by the government. In 2018, total revenues grew by 4.9% y-o-y, while total expenditures were up by 1.8% y-o-y with a significantly stronger growth in the second half of the year. The revenue growth was driven by higher income from taxes and social contributions. Current expenditure increased by 6.4%, mainly due to a surge in social transfers and higher subsidies to corporates, while capital spending saw a significant drop of 38.8% y-o-y. As a result, the budget deficit was reduced to 1.8% of GDP, lower than the target of 2.7% of GDP. However, deficit calculations do not include the financing for the public enterprise for state roads which remained off-budget. General government debt achieved 40.5% of GDP in 2018, increased by 1.2 pp from a year before. The central bank's foreign currency reserves increased by 23% in 2018 representing 5.2 months of imports. Current account deficit slightly deteriorated at the end of 2018 and stood at 0.3% of GDP, which is still an improvement by 1% to the previous year (1.3% of GDP in 2017). The trade balance improved and stood at -16.2% of GDP in 2018 as a whole, compared to -17.9% in 2017. Net FDI inflows amounted to 5.8% of GDP in 2018, markedly higher than one year earlier (2.3% of GDP), and significantly larger than the current account deficit. Inflation is currently no issue in North Macedonia. Average consumer price inflation in 2018 stood at 1.5% (+0.1pp compared to 2017), mainly driven by higher food prices (+0.6%). Following a revision in December, the central bank continued to reduce the key policy rate, by 25bps on 13 March, to a new historical low of 2.25%. The Denar continued its limited fluctuat...
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Macroeconomic Stability. The Borrower maintains a macroeconomic policy framework consistent with the Program’s objectives and in accordance with the provisions of the Policy Letter referred to in Section 4.01 of these Special Conditions;

Related to Macroeconomic Stability

  • Cooperation with Economic Studies If ICANN initiates or commissions an economic study on the impact or functioning of new generic top-­‐level domains on the Internet, the DNS or related matters, Registry Operator shall reasonably cooperate with such study, including by delivering to ICANN or its designee conducting such study all data related to the operation of the TLD reasonably necessary for the purposes of such study requested by ICANN or its designee, provided, that Registry Operator may withhold (a) any internal analyses or evaluations prepared by Registry Operator with respect to such data and (b) any data to the extent that the delivery of such data would be in violation of applicable law. Any data delivered to ICANN or its designee pursuant to this Section 2.15 that is appropriately marked as confidential (as required by Section 7.15) shall be treated as Confidential Information of Registry Operator in accordance with Section 7.15, provided that, if ICANN aggregates and makes anonymous such data, ICANN or its designee may disclose such data to any third party. Following completion of an economic study for which Registry Operator has provided data, ICANN will destroy all data provided by Registry Operator that has not been aggregated and made anonymous.

  • Economic Sanctions None of the Company, the Sponsor, any non-independent director or officer or, to the knowledge of the Company, any independent director or director nominee, agent or affiliate of the Company is currently subject to any sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury Department (“OFAC”) or any similar sanctions imposed by any other body, governmental or other, to which any of such persons is subject (collectively, “other economic sanctions”); and the Company will not directly or indirectly use the proceeds of the Offering, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other person or entity, for the purpose of financing the activities of any person currently subject to any sanctions administered by OFAC or other economic sanctions.

  • Safeguards Monitoring and Reporting The Borrower shall do the following or cause the Project Executing Agency to do the following:

  • MINISTRY/SCHOOL BOARD INITIATIVES ETFO will be an active participant in the consultation process to develop a Ministry of Education PPM regarding Ministry/School Board Initiatives.

  • Outcomes Secondary: Career pathway students will: have career goals designated on SEOP, earn concurrent college credit while in high school, achieve a state competency certificate and while completing high school graduation requirements.

  • Program Monitoring and Evaluation The Recipient shall prepare, or cause to be prepared, and furnish to the Association not later than six months after the Closing Date, a report of such scope and in such detail as the Association shall reasonably request, on the execution of the Program, the performance by the Recipient and the Association of their respective obligations under the Legal Agreements and the accomplishment of the purposes of the Financing.”

  • MINISTRY INITIATIVES OSSTF/FEESO education workers will be an active participant in the consultation process at the Ministry Initiatives Committee. Ministry Initiatives Committee shall meet at least quarterly each year to discuss new initiatives, including implications for training, resources.

  • Focus The focus of the nursing role is responding to the health needs of individuals, families and communities. The registered nurse is responsible for assessment, planning, implementation and evaluation of consumer care.

  • Economic Sanctions, Etc The Company will not, and will not permit any Controlled Entity to (a) become (including by virtue of being owned or controlled by a Blocked Person), own or control a Blocked Person or (b) directly or indirectly have any investment in or engage in any dealing or transaction (including any investment, dealing or transaction involving the proceeds of the Notes) with any Person if such investment, dealing or transaction (i) would cause any holder or any affiliate of such holder to be in violation of, or subject to sanctions under, any law or regulation applicable to such holder, or (ii) is prohibited by or subject to sanctions under any U.S. Economic Sanctions Laws.

  • Culture History and past behavior;

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