Sun, 26 Sep 2021

LISBON -- The Portuguese government published on Wednesday the law creating the Capitalization and Resilience Fund, which initially earmarks 320 million euros (378 million U.S. dollars) for the economic recovery of the country's companies.

The funds, which come from the Recovery and Resilience Plan of the European Union (EU), may reach 1.3 billion euros in the long term, aiming at the recovery following the COVID-19 pandemic. (Portugal-Economy-Recovery)

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WASHINGTON -- The U.S. Federal Reserve on Wednesday kept its benchmark interest rate unchanged at the record-low level of near zero amid growing concerns over surging inflation and the rapid spread of the Delta variant.

"The path of the economy continues to depend on the course of the virus. Progress on vaccinations will likely continue to reduce the effects of the public health crisis on the economy, but risks to the economic outlook remain," the Fed said in a statement after concluding a two-day meeting. (U.S.-Fed)

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JOHANNESBURG -- The recent unrest which resulted in the destruction of property and looting of shopping centres would affect South Africa's economic recovery, said the Finance Minister Tito Mboweni on Wednesday at a virtual media briefing.

Mboweni said the unrest would impact future gross domestic product (GDP), business confidence and reduce private investment. (South Africa-Economy)

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BERLIN -- Germany saw its public debt in 2020 increase by 14.4 percent year-on-year to a new record high of 273.8 billion euros (323.2 billion U.S. dollars), the Federal Statistical Office (Destatis) said on Wednesday.

The cumulative debt owed by the German federal government, the states, the municipalities and the social security funds to banks and private companies totaled nearly 2.2 trillion euros, while per capita debt rose to 26,141 euros, according to Destatis. (Germany-Debt-Record)

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