Updated macroeconomic projections from the Astana Economic Research Center (AERC), as reported by LS, indicate a structural slowdown in Kazakhstani household purchasing power. The real income growth forecast for 2026 was revised downward from 4.5% to 2.8% year-on-year, with the rate projected to fall further to 1.8% in 2027. This deceleration is driven by nominal income growth, which is expected to slow from 14.9% to 13.4% in 2026 and reach 10.8% in 2027, failing to outpace inflation. The adjustment reflects a reassessment of wage growth dynamics and the phased impact of the Comprehensive Income Increase Plan for 2026-2029.
Inflation is projected to remain elevated, at 10.3% in 2026, down slightly from a previous estimate of 10.4%, before easing to 8.9% in 2027. Consequently, the gap between nominal wage increases and price levels continues to compress real household gains, a constraint that directly limits domestic consumption capacity.
Macroeconomic Indicators
The tenge strengthened more than previously anticipated, with the 2026 average exchange rate forecast lowered to 475.2 tenge per U. S. dollar from an earlier estimate of 511.5. This revision aligns with actual currency trends observed in the third quarter of 2026. However, the tenge is expected to moderate to 490.5 per dollar in 2027, influenced by geopolitical shifts in the Middle East, real interest rate adjustments, and rising import demand for investment goods. Real GDP growth was trimmed to 4.6% for 2026 from 4.8%, driven by weaker household consumption and capital accumulation, though this is partially offset by slower import growth. Growth is expected to rebound to 4.7% in 2027.
The Colombian government has submitted an economic rescue bill to Congress focused on a specific distribution of fiscal burdens. Vice President José Manuel Restrepo stated that 70% of the funds required to cover the deficit will be sourced from reductions in government spending, while the remaining 30% will be managed through tax adjustments for individuals and corporations.
The proposed budget compression targets two primary areas of state expenditure. Starting in 2027, the government plans to reduce the cost of contracts for professional services and administrative support by 50%. By 2028, personnel expenses within the public sector are slated for a 20% reduction.
Tax reforms address the remaining fiscal gap. For legal entities, a new general corporate income tax rate is proposed: 33% in 2027 and 31% starting in 2028. Additionally, employees with a social security base exceeding two minimum wages will see an increase in healthcare contributions. To offset these measures, the government announced the "EfectIVA" VAT refund program, scheduled for January 2028, designed to support low-income households through individual limits and specific refund rates.
LONDON: Swedish climate academic Andreas Malm said on Friday he had been denied entry to Britain, where he was due to speak alongside the co-founder of Palestine Action, a group banned as a terrorist organization. Malm, an academic at Sweden’s Lund University, has been a vocal critic of Israel and expressed strong support for the Palestinian movement. Britain’s Home Office said it did not comment on individual cases. Andreas Malm, an academic at Sweden’s Lund University, has been a voc
Singapore's Council for Estate Agencies (CEA) will transition to new leadership on November 1, 2026, with Vincent Hoon Seng Lay appointed as president to succeed Kwek See Cheat. Richard Hu Ing Jack, previously associated with the Urban Redevelopment Authority, has also taken the role of vice-president.
The board restructuring involves the departure of three former members, the re-election of seven incumbents to new terms, and the appointment of five new representatives. These incoming members bring expertise from the legal, energy, and audit sectors.
As for the new president, Hoon's career spans government administration and law. He joined the Legal Services Commission in 1984, served as a District Judge from 1990 to 1997, and later managed the Land Registry under the Ministry of Law. Hoon held executive positions at the State Land Authority (SLA) before his most recent tenure as a judge, which concluded in December 2025. He assumed the CEA vice-presidency in early 2026 prior to his promotion.
European leaders have opted not to appear in photos with Russian delegations in earlier G20 meetings this year too, as fighting continues after Russia's 2022 invasion of Ukraine.
The protests were the biggest in a recent wave of demonstrations inspired by those in France and Spain, led by students who have set up tent camps and occupied schools to make their demands heard.
On October 27 and 28, 2026, the Chamber of Representatives of Colombia re-approved nine articles of its pension reform, following a prior ruling by the Constitutional Court that sent the package back for revision due to procedural violations. The deputies retained the Senate's original version without amendments, locking in a mechanism for state subsidies that experts warn could create unfunded liabilities for future generations.
The central point of contention is the reduction of the required work history for retirement without a corresponding increase in contribution rates. This structural arrangement compels the state to cover pension payouts that are not fully backed by current accumulated contributions, creating a fiscal gap where the government assumes financing costs not covered by actuarial calculations of member payments.
Colombia's pension system is traditionally divided into public and private funds. The government's plan aims to expand coverage for the elderly while limiting subsidies for wealthier citizens, setting the threshold for mandatory contributions to the public fund at 2.3 times the minimum wage. Valery Kozlov, a regional economist, noted that this specific construction creates a fiscal deficit where the state funds pensions without adequate actuarial backing.
Login
