Thu, 02 Dec 2021

TOKYO -- Japan's auto exports dropped 40.3 percent in September from the previous year, as the COVID-19 pandemic disrupted the supply chain in Southeast Asia and a worldwide semiconductor shortage forced domestic automakers to cut production, government data revealed Wednesday.

According to a preliminary report by the Finance Ministry, car shipments logged the first year-on-year decline in seven months and the largest drop since a dive of 49.9 percent in June last year during the initial shock of the pandemic, and may hinder the country's economic recovery. (Japan-Auto Exports)

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HANOI -- Vietnam is estimated to post a gross domestic product (GDP) growth of between 3 percent and 3.5 percent in 2021, far below the target of around 6 percent set earlier by the National Assembly (NA), Vietnamese Prime Minister Pham Minh Chinh said Wednesday.

Chinh made the remarks when presenting a government report at the second session of the 15th NA of Vietnam, which opened on Wednesday. (Vietnam-GDP-PM)

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SYDNEY -- Amid a phase-in reopening, the government of Australian state of New South Wales (NSW) has charged ahead in an effort to reinvigorate the state's COVID-ravaged economy.

NSW Premier Dominic Perrottet made a 530 million Australian dollar (about 400 million U.S. dollar) input announcement during a press conference on Wednesday morning. (Australia-State-Economy)

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ROME -- Prime Minister Mario Draghi's cabinet on Tuesday passed a draft budget for 2022 worth some 23 billion euros (26.7 billion U.S. dollars), which would deliver expansionary measures including a sharp cut in income taxes.

The draft indicates the main policy framework the government intends to follow for next year, including the targeted budget balance and the projections for expenditure and revenue.

The budget aims at boosting Italy's growth to 4.7 percent next year, according to the forecast provided by the Economy and Finance Ministry in late September. (Italy-Budget-Draft)

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