vice president – Avance Economico http://avanceeconomico.com/ Sun, 13 Mar 2022 00:12:20 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://avanceeconomico.com/wp-content/uploads/2021/07/icon-7.png vice president – Avance Economico http://avanceeconomico.com/ 32 32 Paulding and Putnam Counties Receive PPEC Site Development Grants https://avanceeconomico.com/paulding-and-putnam-counties-receive-ppec-site-development-grants/ Sun, 13 Mar 2022 00:12:20 +0000 https://avanceeconomico.com/paulding-and-putnam-counties-receive-ppec-site-development-grants/ Paulding County CIC Director Dave Burtch (left) accepts a $15,000 economic development grant from PPEC CEO George Carter. Paulding Putnam Electric Cooperative’s Economic Development Grant Program allows the co-operative to partner with its organization and statewide electricity provider, Buckeye Power, to help local communities impact and improve the quality of life of its members. Paulding […]]]>
Paulding County CIC Director Dave Burtch (left) accepts a $15,000 economic development grant from PPEC CEO George Carter.

Paulding Putnam Electric Cooperative’s Economic Development Grant Program allows the co-operative to partner with its organization and statewide electricity provider, Buckeye Power, to help local communities impact and improve the quality of life of its members. Paulding County CIC and Putnam County CIC received a total of $21,000 in PPEC matching grants for site development efforts.

The Paulding County grant totaling $15,000 is for the Paulding Industrial Park and will cover a Phase 1 environmental assessment, geotechnical investigation, wetland determination, and analysis of threatened and endangered species. disappearance. Paulding County CIC Director Dave Burtch and Paulding County Economic Development Director Tim Copsey were on hand for the grant presentation in late February.

The Putnam County grant totaling $6,000 will be used for a Phase 1 environmental assessment and identification of wetlands. Putnam County Director of Economic Development, Amy Sealts, and members of the Putnam County CIC Board of Directors were on hand for the grant presentation.

Putnam County CIC accepts a $6,000 economic development grant from the Paulding Putnam Electric Cooperative. (Photo L-R): Jeff Vance, Vice President, Amy Sealts, Putnam County Director of Economic Development, James Russell, Sec/Tres. ; Virgil Miller, President; PPEC CEO George Carter; and Matt Miller and Al Gerdeman (members of the finance committee).

“Paulding Putnam Electric Cooperative is proud to help support local economic development efforts,” said George Carter, President and CEO of PPEC. “These grants would not be possible without the support of our generation and transmission provider, Buckeye Power. We look forward to working with Paulding CIC and Putnam County CIC as they further develop these sites and prepare for the next phase of attracting businesses and jobs to our area.

To learn more about the Economic Development Grant Program or other community programs the co-op participates in, contact PPEC at 800-686-2357 or visit www.PPEC.coop.

Tags:Al Gerdeman Dave Burtch George Carter Jeff Vance Matt Miller Paulding Putnam Electric Cooperative Virgil Miller

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Lao government plans annual GDP growth of at least 4% | World https://avanceeconomico.com/lao-government-plans-annual-gdp-growth-of-at-least-4-world/ Thu, 10 Mar 2022 08:31:00 +0000 https://avanceeconomico.com/lao-government-plans-annual-gdp-growth-of-at-least-4-world/ People join traffic in Vientiane (Illustration Photo: Xinhua/VNA) Vientiane (VNA) – The Lao government has set an annual economic growth target of at least 4 percent by 2025, the Vientiane Times newspaper reported. According to a 20-page decree signed by Phankham Viphavanh, Lao Prime Ministerthe agricultural sector is expected to grow at an average annual […]]]>
People join traffic in Vientiane (Illustration Photo: Xinhua/VNA)

Vientiane (VNA) – The Lao government has set an annual economic growth target of at least 4 percent by 2025, the Vientiane Times newspaper reported.

According to a 20-page decree signed by Phankham Viphavanh, Lao Prime Ministerthe agricultural sector is expected to grow at an average annual rate of 2.5% and will account for 15.3% of gross domestic product (GDP) by 2025.

Meanwhile, industry is expected to grow at an annual rate of 4.1% and account for 32.3% of GDP by 2025. The services sector is expected to grow by 6%, accounting for 40.7% of GDP during the next 3 to 4 years.

In addition, the tariff and tax sector is expected to increase by 5.8% and represent 11.7% of the GDP by 2025. Annual GDP per capita income is estimated at US$2,880.

Laos National Chamber of Commerce and Industry (LNCCI) Vice President Daovone Phachanthavong said Laos can achieve its economic goals if development megaprojects in smart cities, highways, special economic zones , hydropower and mining, among others, were progressing as expected.

However, one of the biggest challenges will be the Lao governmentthe ability to bring the COVID-19[female[feminine control of the pandemic and support economic recovery./.

ANV

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OCBC Bank Hires Benjamin Towell as Vice President of Sustainability | News | Eco-Enterprise https://avanceeconomico.com/ocbc-bank-hires-benjamin-towell-as-vice-president-of-sustainability-news-eco-enterprise/ Mon, 07 Mar 2022 04:03:00 +0000 https://avanceeconomico.com/ocbc-bank-hires-benjamin-towell-as-vice-president-of-sustainability-news-eco-enterprise/ Benjamin Towell is leaving after a long stint with the Building & Construction Authority of Singapore to join OCBC Bank. The Briton has been appointed vice president of sustainability for the bank’s global commercial banking team. His role will be to develop a climate action strategy and roadmap for the bank, and to work with […]]]>

Benjamin Towell is leaving after a long stint with the Building & Construction Authority of Singapore to join OCBC Bank.

The Briton has been appointed vice president of sustainability for the bank’s global commercial banking team. His role will be to develop a climate action strategy and roadmap for the bank, and to work with the bank’s partners to help accelerate the decarbonisation of the sector.

In his previous role at the Building & Construction Authority (BCA), Towell worked on Singapore’s Green Mark building certification program. He led the development of Green Mark 2015 and the latest iteration, Green Mark 2021, which promotes construction aligned with the United Nations Sustainable Development Goals.

While at BCA, Towell also led the development of the Ultra-Low Energy Building Program, a national policy to reduce carbon emissions in the built environment, and authored the Green Paper for the Institute of Singapore architects, a guide to sustainable building design.

Towell said he wanted to apply his experience thinking about sustainability in the building and construction industry to finance.

“Companies are more concerned with cost than value. We need an economic system that takes into account externalities, to change the way businesses operate. Sustainable finance will help guide this,” he told Eco-Business. “Going forward, companies will only be able to access certain financial products if they have a strong climate transition plan in place.”

Towell began his career as an architect, working in the UK on a range of projects including heritage conservation programs and the design of aged care centres.

He is one of the founding committee members of a newly launched group in Singapore, The Circle for Human Sustainability. The group brings together built environment professionals, sociologists and economists, and aims to work for an economy that is not based on growth, and allows “ecologically responsible behavior”.

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Creating a Local Strategy for Economic Prosperity and Resilience | News, Sports, Jobs https://avanceeconomico.com/creating-a-local-strategy-for-economic-prosperity-and-resilience-news-sports-jobs/ Sat, 26 Feb 2022 16:46:12 +0000 https://avanceeconomico.com/creating-a-local-strategy-for-economic-prosperity-and-resilience-news-sports-jobs/ The county is in the process of updating its fourth Comprehensive Economic Development Strategy (CEDS), “an economic roadmap to diversify and strengthen regional economies”, for publication later this year. This update occurs every five years, as a result of the Economic Development Administration (EDA) Reauthorization Act of 2004. Maui County has completed three […]]]>

The county is in the process of updating its fourth Comprehensive Economic Development Strategy (CEDS), “an economic roadmap to diversify and strengthen regional economies”, for publication later this year.

This update occurs every five years, as a result of the Economic Development Administration (EDA) Reauthorization Act of 2004. Maui County has completed three CEDS, in 2004, 2010, and 2016.

CEDS aims to create a local economic development strategy and an enabling environment for economic prosperity and resilience.

Hawaii Counties have historically engaged our Economic Development Councils to perform the required analysis and reporting. In our case, the Maui Economic Development Board (MEDB) achieved this goal by working with a network of connected businesses, suppliers and associates in a specific field who are all located in the same geographic area. This is called a “cluster-based process” as required by federal law.

CEDS 2016 was led by a strategic committee that identified key economic hubs in Maui County that are driving the economy:

• Agriculture.

• Construction.

• Creative industries.

• Energy.

• Health and wellbeing.

• Science, technology and innovation.

• Sports and leisures.

• Visitor industry.

Additionally, geographic clusters for Hana, Lana’i and Moloka’i have been identified, recognizing that the economic priorities of these communities are unique.

Having recently familiarized itself with CEDS, the Temporary Investigative Group on Tourism Management and Economic Development has found it to be a useful resource in developing a legislative approach that will best support our county’s economic strategy. The timing couldn’t be more perfect, as the council has diligently focused on managing tourism, while simultaneously working to diversify our economy.

Regions are required to update their CEDS to be eligible for assistance from the EDA under its public works and economic adjustment assistance programs. The EDA provides funds to each state, and the state allocates funds to each county. Additionally, a CEDS is a prerequisite for EDA designation as an Economic Development District.

The regulations governing CEDS – found in Title 13 of the Code of Federal Regulations at Section 303.7 – require the following in the CEDS document:

• Historical Summary: A historical summary of economic conditions in the region.

• SWOT Analysis: An in-depth analysis of regional strengths, weaknesses, opportunities and threats.

• Strategic direction/action plan: The strategic direction and action plan should build on the results of the SWOT analysis and incorporate/integrate elements from other regional plans (land use planning and transport, development labor, etc.).

• Evaluation Framework: Performance measures used to assess the organization’s implementation of CEDS and its impact on the regional economy.

In addition, the guidance emphasizes the need to think beyond traditional job creation and embrace capacity building and large-scale wealth creation when developing goals, measurable targets, actions and performance measures.

These requirements also highlight the need to adopt an asset-based approach. Efforts that focus on the strengths of a community, while considering the interdependencies between regional economic prosperity and other topics such as employment-focused workforce development, management and natural resource development and sustainable land use.

I invited the MEDB to join the board members at my Budget, Finance and Economic Development Committee meeting on January 26 and make a presentation on the CEDS during its update. (Meeting link: https://tinyurl.com/CEDSmeeting.) At this meeting, I requested that in addition to the required SWOT analysis, SMART goals also be included to update a more CEDS usable. SMART is an acronym used to guide goal setting (specific. measurable. achievable. relevant. time-bound).

The MEDB will convene various community focus groups over the coming months to gather comprehensive inputs and inform cluster-based strategies. Please contact me via email at Keani.rawlins@mauicounty.us if you would like to get more involved.

* Keani Rawlins-Fernandez is Vice President of the Maui County Council and Chair of the Budget, Finance and Economic Development Committee. It serves as the county council seat for the Moloka’i residential area. “3 Minutes of the Council” is a column to explain the latest news on county legislative matters. Visit mauicounty.us for more information.




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Business roundup: Strongest economic growth in 15 years https://avanceeconomico.com/business-roundup-strongest-economic-growth-in-15-years/ Fri, 25 Feb 2022 08:35:55 +0000 https://avanceeconomico.com/business-roundup-strongest-economic-growth-in-15-years/ Denmark experienced economic growth of 3.9% last year, according to initial projections from Danmarks Statistik. The level is comparable to that of 2006. According to Dansk Industri, we would have to go back to 1994 to find higher growth. Strong economic growth in 2021 followed a 2.1% decline in 2020 due to the pandemic. A […]]]>

Denmark experienced economic growth of 3.9% last year, according to initial projections from Danmarks Statistik.

The level is comparable to that of 2006. According to Dansk Industri, we would have to go back to 1994 to find higher growth.

Strong economic growth in 2021 followed a 2.1% decline in 2020 due to the pandemic.

A good year despite COVID-19
“We are seriously putting the corona crisis behind us with the highest employment rate on record and the lowest unemployment rate for more than 13 years,” Finance Minister Nicolai Wammen said.

According to Kristian Skriver, senior economist at the Danish Federation of Enterprises, the rapid recovery can be explained by the speed with which businesses and consumers have adapted to the restrictions. For example, more rretail sales moved online, and more restaurants began offering take-out.

“This helped to ensure that consumption was not hit as hard by the shutdowns in 2021 as it was in 2020,” he explained, according to DR.

What does 2022 hold for us?
Growth in 2022 will not be of the same magnitude as in 2021, predicts Allan Sørensen, chief economist at Dansk Industri.

“Employment has skyrocketed, which means unemployment is really low. This will slow growth in the coming year as there is a labor shortage in the companies,” Sørensen said, according to DR.

“There are a number of factors (a lack of materials, Russia’s invasion of Ukraine) that growth won’t be as high this year.”


Vestas, the most sustainable company in the world
Vestas is the world’s most sustainable company according to the 18and annual ranking of the most sustainable companies in the world published by Corporate Knights. “Vestas has successfully helped our partners avoid more than 1.7 billion tons of carbon emissions over the past four decades,” said Henrik Andersen, CEO and President of Vestas.

Aalborg Portland want tax suggestion dropped or could leave Denmark
A group of experts appointed by the government has proposed three different models to reduce CO2 emissions. The first sets a uniform CO2 tax of 750 crowns per tonne – with the price of CO2 allowances, which companies covered by allowances already pay to the EU, taken into account. Cement giant Aalborg Portland, the country’s biggest CO2 emitter, is said to be unhappy with the first model – it has already threatened to leave Denmark if the taxes are too punitive. The other two models, which include a discount for ‘mineralogical processes, are more manageable, it shows. After all, he reasons, it would simply move production out of Denmark and emit elsewhere.

Generational change at Maersk
Robert Mærsk Uggla, 43, is the new chairman of Maersk. He is the great-great-grandson of Peter Mærsk Møller, who founded the company 118 years ago. He replaces Jim Hagemann Snabe who did not stand for re-election. Meanwhile, Marc Engel, the outgoing head of supply chain at Unilever, will replace Ane Mærsk McKinney Uggla as vice president. Like Snabe, Uggla retired from the board.

New code to ease the stress felt by MPs
There is a new code of conduct for meetings and negotiations aimed at tackling stress in Christianborg. While it’s normal for MPs to have more pressure at work than in other professions, this new tool should help them manage it better. The new code addresses issues such as the short time they have to prepare for debates and negotiations that go on late into the night. For example, the guidelines will state that debate materials must be made available at least 24 hours in advance..

Moderna sets up in Denmark
Moderna plans to establish a commercial presence in six new European countries, including Denmark. The goal is to support the delivery of mRNA vaccines and therapeutics locally. “Europe has played a critical role in Moderna’s ability to manufacture and deliver our COVID-19 vaccine across the globe, protecting millions from infection, hospitalization and death from COVID-19” , said Stéphane Bancel, CEO of Moderna. “I look forward to continuing our collaborations with European researchers and partners to leverage our mRNA technology.”

No more Netto and Lidl paper advertisements in the mailbox
Ahead of reports that the owner of the Coop supermarket would support the introduction of a system called “Advertising – Yes, please”, in which households must choose to receive print advertisements, two other chains, Netto and Lidl, have confirmed that they are phasing out their printed products. offers. Commonly referred to as notices (newspapers) by the public, supermarkets said they were doing this for environmental reasons and also to save money. Netto has left the door open to continue distributing, while Lidl starts with Copenhagen before stopping across the country. Lidl paper advertisements can be found in stores and online.

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US Sanctions Against Russian Banks Are The West’s Most Powerful Economic Threat https://avanceeconomico.com/us-sanctions-against-russian-banks-are-the-wests-most-powerful-economic-threat/ Wed, 16 Feb 2022 21:03:00 +0000 https://avanceeconomico.com/us-sanctions-against-russian-banks-are-the-wests-most-powerful-economic-threat/ U.S. President Joe Biden and Russian President Vladimir Putin arrive for the U.S.-Russia Summit at Villa la Grange in Geneva, Switzerland June 16, 2021. Saul Loeb/Pool via REUTERS Join now for FREE unlimited access to Reuters.com Register LONDON, Feb 16 (Reuters) – For NATO members, the most potent measure against Russia if it invades Ukraine […]]]>

U.S. President Joe Biden and Russian President Vladimir Putin arrive for the U.S.-Russia Summit at Villa la Grange in Geneva, Switzerland June 16, 2021. Saul Loeb/Pool via REUTERS

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LONDON, Feb 16 (Reuters) – For NATO members, the most potent measure against Russia if it invades Ukraine would be U.S. sanctions cutting Russian state banks off the dollar, according to Russian leaders, bankers and former senior US sanctions officials. The United States has warned that Russia could invade as early as this week. Moscow denies having such plans, but says the West must take its concerns about NATO expansion seriously. read more Washington and its allies in Europe are finalizing a sweeping sanctions package should Russia launch an invasion, according to US and European officials. read more The US package would expand a technology export ban to include all goods made with US components or software, as well as proposed sanctions against specific Russian billionaires. But sanctions experts say that more than any other measure, aggressive action against Russian state banks would hit its economy the hardest. “Banking sanctions are the most impactful action the United States can take in the short term,” said Brian O’Toole, former senior adviser to the director of the Office of Foreign Assets Control, or OFAC, at the U.S. Treasury Department, that designs and manages the implementation of sanctions. Proposed sanctions against Russian banks would prevent them from transacting in US dollars, essentially freezing any dollar-denominated assets or liabilities held by banks at home and abroad. Russian Finance Minister Anton Siluanov said on Wednesday that sanctions against Russian banks would be “unpleasant” and lead to a spike in volatility, but said the state would ensure that all deposits with banks and all transactions, including in foreign currencies, are secure. Russia’s abundant hard currency reserves – which currently stand at $635 billion – would help protect against the potential hit, he said. Asked about possible sanctions against Russian state banks, Kremlin spokesman Dmitry Peskov told Reuters that Russia was “preparing for unpredictable actions” by the United States “by protecting itself against any risk “.

He said: “We might get the impression that all this information noise and all these claims that Russia is about to attack Ukraine are made to contain Russia further and create a reason to impose new sanctions – and so they talk about these hellish sanctions.” Elina Ribakova, deputy chief economist at the Institute of International Finance in Washington, said that even if Russia has enough reserves, the potential measures “could cause a run on deposits. This will certainly have a strong impact on the national financial system. This will increase the risk of financial instability, including widening spreads and a sell-off of the ruble. U.S. sanctions far exceed the power of any other jurisdiction, as the White House can potentially impose secondary sanctions on any foreign bank that continues to do business with these institutions, said O’Toole and finance and security expert Tom Keatinge at the Royal United Services Institute, a London-based think tank. The White House did not respond to requests for comment on secondary sanctions. Shares of banking giant Sberbank (SBER.MM) and smaller rival VTB (VTBR.MM) both fell last week ahead of sanctions, although they recouped some losses after Russia said on Tuesday that some troops stationed near the borders with Ukraine were back at base after completing drills, Sberbank holds almost half of Russia’s 21 trillion rubles in deposits and, along with state lenders VTB, Gazprombank and Rosselkhozbank , accounts for nearly 60% of the country’s banking assets. GOING HEAVY Sberbank, VTB and the Russian Central Bank declined to comment. Gazprombank and Rosselkhozbank did not respond to requests for comment. “Abolishing Sberbank would have massive ramifications,” O’Toole added. The nature of the sanctions would likely depend on the scale of a Russian invasion. A Russian invasion limited to an incursion into the rebel Donbass region of eastern Ukraine, for example, could mean the US has scaled its targeting of Russian state banks to maintain greater deterrence. , potentially keeping Sberbank to the end, said Daniel Fried, a former State Department coordinator for sanctions policy in the Obama administration. But “if the Kremlin goes big, we might as well, and we might go big anyway,” Fried said. Sanctions on the banks would in part be aimed at forcing Russia’s central bank to dip into its hard currency reserves in order to bail out banks and keep them afloat, O’Toole and Fried said. The central bank declined to comment on hard currency reserves and sanctions. Russia has few defenses to withstand a US-led attack on its financial stability. Strong currency reserves, high oil prices and a low debt-to-GDP ratio of 18% in 2021 put it in a good position to face further tightening of existing sanctions, said Chris Weafer, director of MacroAdvisory, a firm consultancy based in Moscow.

In addition, Russian state banks reduced their exposure to Western markets when the US and EU imposed limited sanctions on VTB and Sberbank in retaliation for Russia’s annexation of Crimea in 2014. , which limited their ability to take on debt.

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Today, proposed sanctions against state banks would include a system of waivers, licenses and liquidation periods to ensure that payments for dollar-denominated commodity contracts and debt payments can be made. , sanctions experts said.

Russian officials have largely focused on threats to cut Russia off from the SWIFT financial messaging system in the event of war. But US and European officials said last week the move was now off the table amid concerns from European lenders that it could mean billions of dollars in outstanding loans they have in Russia would not be repaid. . Read more

DOLLARS THE KEY Sberbank chief executive German Gref has previously brushed off reports that US sanctions could prevent Moscow from converting rubles into dollars on the grounds that he believed it was “impossible to execute”. Two senior Russian bankers interviewed by Reuters said they expected any targeted bank to escape the worst of the impact by converting their dollar holdings into euros. Former senior US sanctions officials, however, said that confidence was misplaced, as dollars would still have to pass through a US clearing bank for conversion. “Anything denominated in dollars has to go through the United States and once you do it’s blocked,” O’Toole said. These sanctions, he said, could also lead to the freezing of dollar accounts held abroad by Russian state banks in the correspondent. Igor Yurgens, vice president of the Russian Union of Industrialists and Entrepreneurs, a powerful lobby group for Russian businesses, told Reuters that Russia’s central bank was working on a correspondent account program. with China to convert cash that could help mitigate the impact of sanctions. “Everything would be difficult, but it won’t fall apart,” he said. The Russian authorities “have conducted technological stress tests and believe that they will be fine for a while”. Sergey Aleksashenko, a former vice president of the Russian central bank currently living in exile in the United States, said he believed the sanctions threats from the West were nothing more than an escalation of virtual war or information between Russia and the West. In this standoff, “Putin’s weapon is (the movement of) tanks and the West’s is about sanctions. It’s all part of a big game,” he said. But one of Russia’s top 50 billionaires interviewed by Reuters warned that political maneuvering between Moscow and Washington could lead to conflict and economic retaliation. “Everyone has played a virtual game… But then all of these virtual events can become facts of life.” “The sanctions will have serious economic consequences,” he said.

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Reporting by Catherine Belton Additional reporting by Katya Golubkova in Moscow Editing by Jonathan Boyle and Alistair Bell

Our standards: The Thomson Reuters Trust Principles.

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Single Women Lose in Today’s Economy: Wages, Tax Code https://avanceeconomico.com/single-women-lose-in-todays-economy-wages-tax-code/ Sun, 13 Feb 2022 12:15:40 +0000 https://avanceeconomico.com/single-women-lose-in-todays-economy-wages-tax-code/ Sometimes it seems like everyone is pushing women to get married, even the US government. Loading Something is loading. As more millennials postpone or forgo marriage, the economy hasn’t caught up. Single people pay more for housing, social life and taxes — and they get paid less. Kate Mannelly, a 29-year-old teacher living in Boston, […]]]>
  • Sometimes it seems like everyone is pushing women to get married, even the US government.
  • As more millennials postpone or forgo marriage, the economy hasn’t caught up.
  • Single people pay more for housing, social life and taxes — and they get paid less.

Kate Mannelly, a 29-year-old teacher living in Boston, wants to move into a one-bedroom apartment. But the prices are almost the same as the rent she now shares on a two-bedroom unit with her sister.

“I feel like the rental industry is really for couples and those who share a room and can split the rent,” she told Insider. “What does this mean for the rest of us who aren’t in a relationship or sharing a room with a partner?”

Mannelly suffers the effect of the single tax, in which single people are penalized in an economy shaped by the values ​​of marriage and family after the Second World War. Since then, times have changed. Millennials are postponing home buying, marriage and motherhood until later – or never. An Institute for Family Studies analysis of US Census data found that a record 35% of US adults aged 25 to 50 had never married in 2018. In 1970, that share was 9%. .

It’s a sign of both distress and progress: as millennials created a new version of the American dream, the single life became more socially acceptable — and preferable for many. But while the stigma has changed, the economic system that encourages marriage has not. The costs of being single appear in everything from social life to the tax code, housing and health insurance.

Although costs are higher for single people, they also tend to earn less on average than their partnered counterparts. Moreover, women, who already earn less than men on average, fall further behind if they are black or Hispanic. This disparity becomes even more problematic as millennials face another economic misfortune: 40-year high inflation.

Claudia Goldin, an economics professor at Harvard University, said the research points to marriage as a clear cause of higher earnings for men, she said.

But for women, she says, “there is little positive causal effect of marriage or partnership.”

One is the most expensive number

The US government defines “single” as people who are not married, which means you can legally be single and still have a partner. Most commonly, it refers to those who are unmarried, not living with a partner, or in a committed relationship. That’s how the Pew Research Center defines singles, which describes 31% of Americans in its 2020 report on American singles.

Many single people seek to live alone. But, as Mannelly’s case suggests, that’s hard to do in many US cities where the median rent for a one-bedroom apartment is almost the same price as a two-bedroom apartment. Declining affordability due to the current housing crisis could also undo the progress women have made towards homeownership.

“It may sound so depressing, but I really can’t fathom when I’ll ever be able to buy a house,” Mannelly said of his life in Boston. “It’s so inaccessible right now. In some ways, I’m resigned to the possibility of having to rent forever if I choose to live here.”

Megan Rowsey and her 7 year old daughter.

Megan Rowsey and her 7 year old daughter.

Megan Rowsey


About 65% of single women said they would rather not wait until they were married to buy a home, according to Bank of America data released last month. One in three people have bought so far, but Kathy Cummings, senior vice president of homeownership solutions at Bank of America, told Insider that many single women don’t feel financially ready to buy. a home on their own, even if they are emotionally ready.

Megan Rowsey, a 27-year-old single mother, took the plunge in 2019 but told Insider she didn’t think she could do the same in today’s economy.

“I don’t think I could buy a house in today’s market, because I could only afford a repairman,” she said, adding that the renovations she had done would not were neither cheap nor easy. “House and material prices have gone up like crazy, and I wouldn’t have been able to make it livable even if I had the house.”

Person to split the bill with

In her book “Spinster: Making a Life of One’s Own,” author and journalist Kate Bolick explores the appeal of choosing a single life for millions of American women. “Studies show that a woman who lives alone is more likely to have an active social life and maintain family ties,” she writes, “not because she has more free time, but because are the bonds that sustain it”.

But maintaining that larger social network can be expensive when you do it yourself. That means fewer dinners alone at home and more drinks with co-workers or dinners with friends. There are Uber rides home and milestone dates — all of which can put a dent in the bank account.

Likewise, you can shell out gifts and travel to visit all those loved ones. Some travel companies like hotels and cruise lines charge solo travelers a “one-time surcharge”, when only one person uses the services. It doesn’t help that these activities are all more expensive now thanks to inflation.

to travel

Traveling alone can cost a pretty penny.

Jonathan Perugia/Getty Images


That’s not to say married couples don’t have their own social life to pay for, but couples can split the cost. Additionally, many gym memberships, cell phone plans, and meal delivery services offer deals for family plans.

Uncle Sam wants you to get married

The offers for couples and families are a ripple effect of a government-approved one-time tax that favors married couples.

The tax code, for example, called on Americans to file their income taxes individually. In 1948, just as the post-war version of the American dream was born, joint filing was introduced to allow married couples to combine their incomes for tax purposes.

While couples who earn roughly the same income see little or no advantage in filing jointly, couples in which one partner earns all or most of the income enjoy a “marriage bonus” in which the highest income bracket may drop after marriage. Married couples also get more tax breaks than single filers, such as a larger standard deduction.

Insider calculated the taxes of an American who earned $50,000 for the 2021 tax year using the Tax Policy Center’s Marriage Calculator. Without itemized deductions, they would owe $4,314. If they married a partner who was not working and earning no income, together they would only owe $2,629 in taxes, because $50,000 falls into a lower tax bracket when they are married.

Health, social security and retirement accounts are following suit. For some married couples, it may be less expensive to add a spouse to their employer-sponsored health insurance than to have separate policies. Spouses can also receive up to 50% of their half’s social security benefits, depending on their income. The IRA and Roth IRA income limits are also higher for married couples with one income.

Not to mention the challenges women already face on these fronts, who have less money saved for retirement and spend about $15,000 more on health care than retired men, according to a 2019 Fidelity analysis. .

One advantage: women tend to live longer than men. In fact, it’s also a financial disadvantage, Whitney Pesek, director of child care policy at the National Women’s Law Center, previously told Insider.

“While women end up with less retirement income than men, they also tend to need more retirement savings because women tend to live longer than men,” he said. she stated. “Women are more likely to be single later in life and have higher healthcare costs than men as they age.”

Until American singles get a stronger support system, single women will continue to face an uphill battle to afford what they want.

“For a long time, and even still if I’m being honest, I would think about all the things I could do on a dual income,” said Rowsey, a single mom and homeowner. “At some point I realized I was wasting time on an idea that wasn’t guaranteed to me.”

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Angola’s economic growth expected to be ‘moderately positive’ in 2022 as non-oil sectors continue to recover and oil production stabilises, IMF says https://avanceeconomico.com/angolas-economic-growth-expected-to-be-moderately-positive-in-2022-as-non-oil-sectors-continue-to-recover-and-oil-production-stabilises-imf-says/ Fri, 11 Feb 2022 11:15:52 +0000 https://avanceeconomico.com/angolas-economic-growth-expected-to-be-moderately-positive-in-2022-as-non-oil-sectors-continue-to-recover-and-oil-production-stabilises-imf-says/ Angola’s economic growth is expected to be “moderately positive” in 2022 as non-oil sectors continue to recover and oil production stabilizes, the International Monetary Fund (IMF) said on Thursday, saying the recovery that began in 2021 is expected to pick up. to chase. This year. The multilateral lender said high oil prices and strong non-oil […]]]>

Angola’s economic growth is expected to be “moderately positive” in 2022 as non-oil sectors continue to recover and oil production stabilizes, the International Monetary Fund (IMF) said on Thursday, saying the recovery that began in 2021 is expected to pick up. to chase. This year.

The multilateral lender said high oil prices and strong non-oil revenue would have generated a substantial overall fiscal surplus in 2021. High oil prices have also led to a large current account surplus, a stronger exchange rate and adequate international reserves.

IMF Managing Director Kristalina Georgieva

Angola’s non-oil sector began to grow last year as oil production fell. Non-oil GDP recorded an average growth of 5.2% in the first three quarters of 2021.

“Inflation, driven by high global food prices, has been around 27% year-on-year since October. The central bank maintained tight monetary conditions in response, and the government took steps to facilitate food imports. Inflation is expected to gradually decline over the course of 2022, in line with the expected decline in global food prices,” an IMF spokesperson said. Today News Africa in Washington DC. The spokesperson added that with debt levels still high, fiscal policy will remain tight.

“The authorities’ responsible fiscal policies as well as past debt reprofiling have helped preserve debt sustainability and enabled the allocation of resources to address the economic and health crises. Going forward, key debt indicators, such as the debt-to-GDP ratio, will improve rapidly, although vulnerabilities will remain,” the spokesperson said.

“The IMF supported the authorities’ economic reforms through a three-year EFF extension arrangement; this program concluded successfully – despite many challenges, including COVID-related shocks – with the completion of the sixth and final review on December 22, 2021. The authorities have publicly stated that they are not currently considering request a follow-up program from the Fund.

“Key reforms ahead focus on maintaining the fiscal stance that reduces debt vulnerabilities and diversifying the Angolan economy away from oil dependence by pursuing far-reaching reforms to strengthen governance, improve business environment and promote private investment. At the same time, the authorities are strengthening their monetary policy framework to deal with inflationary pressures,” the spokesperson said.

Simon Atebanbsp

Simon Ateba is chief White House correspondent for Today News Africa. Simon covers President Joe Biden, Vice President Kamala Harris, the US government, the United Nations, the International Monetary Fund, the World Bank, and other financial and international institutions in Washington DC and New York.

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Kazakhstan: A Break in the Social Contract and the End of a Political Cycle https://avanceeconomico.com/kazakhstan-a-break-in-the-social-contract-and-the-end-of-a-political-cycle/ Thu, 10 Feb 2022 04:00:00 +0000 https://avanceeconomico.com/kazakhstan-a-break-in-the-social-contract-and-the-end-of-a-political-cycle/ Since the beginning of January 2022, Kazakhstan has been in the grip of a social and political crisis of unprecedented magnitude. Popular demonstrations, armed riots and an attempted coup rocked Central Asia’s largest and wealthiest country. After President Kasym-Jomart Tokayev was forced to temporarily resort to the Collective Security Treaty Organization (Editor’s note: CSTO, a […]]]>

Since the beginning of January 2022, Kazakhstan has been in the grip of a social and political crisis of unprecedented magnitude. Popular demonstrations, armed riots and an attempted coup rocked Central Asia’s largest and wealthiest country.

After President Kasym-Jomart Tokayev was forced to temporarily resort to the Collective Security Treaty Organization (Editor’s note: CSTO, a Russian-led mutual defense alliance comprising six post-Soviet states in Eurasia) to restore order, many geopolitical analyzes followed. This should not obscure the structural causes of the events that shook a country long presented as a model of stability.

From January 2, 2022, demonstrations took place in all regions of Kazakhstan to protest against the increase in the price of liquefied natural gas following the lifting of the fixed price set by the government.

This lifting of fuel price controls, which removed one of the mechanisms for redistributing income from raw materials, caused discontent, especially as the country was already experiencing high inflation in the wake of the Covid-19 pandemic. 19 (+7.5% in 2020). , +8.4% in 2021). In particular, the daily life of the Kazakh people was already affected by rising food prices.

Popular discontent is also rooted in the extent of inequality in Kazakh society and territory, which is largely the result of liberal and authoritarian policies pursued since independence.

Alongside the political and economic elite formed around the first president, Nursultan Nazarbayev, who came to power at the end of the Soviet period, and the middle class that emerged in the big cities, large sections of society remained on the sidelines of growth.

Despite a spectacular economic boom during the 2000s and 2010s, largely based on the exploitation of underground resources (oil, gas, coal, uranium, etc.), poverty remains high. It affects both the countryside and the cities, especially the industrial cities integrated into the Soviet production system (such as Karaganda, the country’s fourth most populous city), which were the most affected by the crisis of the 1990s, which saw the Kazakhstan The GDP contracted by nearly 40% between 1991 and 1995. In concrete terms, this situation translates into living and working conditions that are still very harsh for many Kazakhs.

The clientelist presidential regime that characterizes the Kazakh political system has also fueled tensions. Democratization was one of the demands made during the demonstrations (return to the 1993 Constitution guaranteeing the rights of political organizations and trade unions; election of mayors and regional presidents; denunciation of the personality cult of Nazarbayev; consolidation of freedom information), in particular by civil society activists, while the phenomena of corruption and appropriation of wealth by those in power and those around them are denounced.

It is therefore the entire oligarchic system forged by Nazarbayev which is called into question in the popular demonstrations, whatever the geopolitical analyzes of the crisis. The social contract, which was also based on patriotic identification with the economic and political successes of the state, has largely broken down due to the slowdown in growth (-2.5% in 2020).

Peaceful demonstrations and armed riots

The protests took different forms in different cities and regions, while for the first time discontent spread across the country, starting with the city of Zhanaozen in western Kazakhstan.

Located in one of the main hydrocarbon-producing regions, the city occupies a unique place in the political and social history of the country. It is one of the centers of a region – Mangystau – whose population is known to have always shown a certain distrust of the central, tsarist, Soviet and now Kazakh authorities, as evidenced by the low vote obtained by Tokayev in 2019 during the last presidential election. election. Before that, in 2011, Zhanaozen had been the scene of major strikes in the hydrocarbons sector, the repression of which, on the occasion of the 20th anniversary of independence, officially left 17 dead.

In the western and northern regions, popular discontent was generally expressed in peaceful demonstrations marked by a strong trade union presence. However, in the cities of the east and especially of the south, from Kyzyl-Orda to Taldy-Kurgan, via Chymkent, Taraz and especially Almaty, the largest city in the country with around two million inhabitants, the demonstrations are turned into riots.

On the one hand, young men, often from underprivileged backgrounds, recently arrived in town (or still living in the surrounding villages), mainly Kazakh-speaking, and who had initially demonstrated peacefully, violently expressed their anger by looting and attacking symbols of the regime, such as the offices of the Nour Otan party (meaning the “radiant fatherland”) created by Nazarbayev.

On the other hand, more organized groups, presumably linked to criminal organisations, Islamist networks and political figures, attacked public buildings, but also the airport and the Almaty television tower, while senior members of the security, particularly within the KNB (the National Security Committee, the intelligence agency of Kazakhstan), defected.

The takeover was described by Tokayev as an “anti-terrorist operation” – an expression which allowed him to justify the imposition of a state of emergency, the unbridled repression against “bandits” and the call for the forces of peacekeeping of CSTO member countries. It was also presented as the defeat of a coup attempt.

In total, according to the authorities, the violence claimed 227 victims, including more than 200 civilians, mostly in Almaty, as well as several thousand injured. About 10,000 people were arrested, while the crackdown largely targeted civilians and activists not involved in the violence, despite the Head of State’s announcements.

A multi-level political crisis

This political crisis, which has left Kazakh society in a state of shock, must be seen on several levels.

On the one hand, the “January tragedy” reminds us that Kazakhstan has experienced several episodes of socio-political tension in recent years: protests against agrarian reforms in 2016, denunciation of housing and poverty problems after a tragic fire in Astana (the capital of Kazakhstan, now called Nur-Sultan) in which five children from the same family died in 2019, and inter-ethnic clashes in 2020 near the Kyrgyz border.

On the other hand, it reveals the extent of the gap between the state apparatus and a large part of the population, both politically and socially. This gap is linked, among other things, to the fact that the Kazakh political system is based less on elections than on nominations, and that it lacks, in practice, instances of representation, confrontation and deliberation.

Finally, the events of January constitute a new stage in the addressing of the succession to Nazarbayev. Alongside the popular movement, an attempt to overthrow Kasym-Jomart Tokayev seems to have been initiated by those close to the former president.

KNB chairman Karim Massimov, himself a former prime minister, reportedly asked President Tokaev to resign after the first demonstrations, before being himself dismissed and then arrested and accused of “high treason”. In other words, internal power struggles were grafted onto social discontent. And it would be reasonable to think that they are largely responsible for the explosion of violence.

After establishing himself in the institutional architecture, in particular by assuming the presidency of the Security Council, one of the major challenges for President Tokayev today is to build up a popular base, while the terms of his accession to the presidency have so far limited its legitimacy to the point that some political scientists call the Kazakh political system a “dyarchy” and consider Tokayev a “half-president”.

A “new Kazakhstan” without Nazarbayev?

The sequence that began in early January 2022 constitutes a turning point in the contemporary history of Kazakhstan. It marks the end of the political life of Nursultan Nazarbayev, who called himself a “retired” on January 18 in a short speech reaffirming his support for President Tokayev.

On January 11, in a long speech in parliament, Tokayev invokes the construction of a “new Kazakhstan” to qualify his action, in the same way as the rhetoric developed by Shavkat Mirziyoyev promotes the “new Uzbekistan” to underline the change of presidency. of the “first president” Islam Karimov, under whom he had been prime minister.

While postponing political reforms to September 2022, Tokayev announced economic and social measures, at the same time appointing a new prime minister, Alikhan Smaiylov, and a new government, a third larger than the one previously led by Askar Mamin.

He attempted to respond to social unrest by pledging to contain inflation and promising to work for the redistribution of wealth, taxing the most profitable companies and the wealthiest people. At the same time, the Kazakh president reaffirmed his attachment to the capitalist economic system while pointing the finger at several dysfunctions of the national economy (such as corruption and the oligopolistic market in Kazakhstan).

It is in this context that President Tokayev announced several highly symbolic measures aimed at those close to Nursultan Nazarbayev, considered to be the main beneficiaries of the political and economic system in place for 30 years.

The Development Bank of Kazakhstan must redefine its action after being accused of operating only for the benefit of certain people; the capital’s light metro project, considered emblematic of financial excesses, has been abandoned; the state holding company Samruk-Kazyna, which controls 60% of Kazakhstan’s GDP through its direct holdings in many companies, must reform its operations.

More directly, the recycling business of the youngest daughter of the first president was nationalized, while her sons-in-law retired from the management of several companies and institutions they occupied, although their assets were not directly threatened for the instant. Dinara Nazarbayeva and her husband Timur Kulibayev are among the wealthiest Kazakhs, with an estimated fortune of $2.9 billion. The influential nephew of the first president, Samat Abish, vice-president of the KNB, has also been removed from his post, while a wave of appointments is reshaping the state apparatus. This movement takes place at all levels of power, from the head of the presidential administration to local elected officials, from the president of the National Assembly to the mayor of Almaty.

Thirty years after independence, a new phase is beginning in Kazakhstan. It remains to be seen whether it will be reduced to a simple renewal of the personalities and interest groups that dominate the political and economic field or whether it will lead to a systemic transformation of the country.

This article has been translated from French.

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Economic Development Committee welcomes representatives from Structall Building Systems | Avery https://avanceeconomico.com/economic-development-committee-welcomes-representatives-from-structall-building-systems-avery/ Wed, 02 Feb 2022 05:00:00 +0000 https://avanceeconomico.com/economic-development-committee-welcomes-representatives-from-structall-building-systems-avery/ NEWLAND – The Avery County Economic Development Committee held its first New Year’s meeting on Tuesday, January 25. The EDC, dedicated to serving and supporting the growth of the region, began by nominating and voting for the positions of President, Vice President and Secretary. Ken Walter remains committee chair, Clayton Harpold remains vice-chair and Susan […]]]>

NEWLAND – The Avery County Economic Development Committee held its first New Year’s meeting on Tuesday, January 25. The EDC, dedicated to serving and supporting the growth of the region, began by nominating and voting for the positions of President, Vice President and Secretary. Ken Walter remains committee chair, Clayton Harpold remains vice-chair and Susan Siirila remains secretary.

The EDC came together via Zoom and welcomed star guests Victoria and Jon Bowman from Structall Building Systems. Structall is a manufacturing and distribution company offering a complete line of construction products centered on Structural Insulated Panels (SIP) used primarily in the construction of patios. Specializing in the Snap-N-Lock branded panel, an energy-efficient building panel for professional contractors, the company seeks to provide quality, handcrafted materials.

As previously reported by The AJT, SBS, a Florida-based company, is currently in the process of opening a new manufacturing site in Newland. The Newland installment will be Structall’s fifth location, along with two other locations in Florida, one in Texas and another in Louisiana. The Bowmans and their family moved to Avery in September to build the last Structall center.

Victoria’s father started the business from scratch in 1987, with Victoria and Jon managing operations from the new Newland facility.

“It’s a basic product. Our production quality and locking mechanism sets us apart,” Victoria said of the company.

By focusing on high caliber goods, Structall has become even more competitive in the traditional market.

“We are not automated. Everything is made by hand. This is where our quality standards come in. We have more colors and textures than anyone else on the market,” added Victoria Bowman.

The Newland site, which will use the old IRC building near Avery County High School on Highway 181, is currently being renovated and rebuilt to company specifications. Newland was chosen as the next facility to be built due to the good access point and the fact that the company has studied market opportunities in the area.

With other locations in warmer climates, Victoria noted that “although it is colder and there are temperature issues, the panels take longer to set. It can be overcome, but (is) something to consider.

Advancing progress in the facility will eventually bring many employment opportunities for area residents. Traditional manufacturing jobs are seen as a 5-year target, while skilled trades positions and a hybrid business development entrepreneur position will be offered in the near future.

“The sky’s the limit with this setup,” Victoria said. “Sales and volume have been good and we are excited to start hiring.”

The company hopes to have positions available by the end of the first quarter.

Structall is already thinking about setting up a mockup of its product for people to see and touch. There is also an opportunity for Structall to expand to Avery High School in regards to the shop class. The Bowmans noted that the goal is to make Newland a true distribution point with an in-house fleet of box trucks.

Another long-term goal of the company is to introduce a second line of panels in the new factory. Structall will operate primarily as a professional contract market partner and will continually progress towards its quality assurance and proof of concept.

“They’re an absolutely wonderful family and will bring incredible manufacturing to Newland,” said EDC President Walter. “This region has lost many factories and it is gratifying to see the return of a manufacturing complex. It will be a boom not just for Newland, but for all of Avery County.

In other EDC news, the committee’s official mission statement had a motion to pass in its current context and was approved. It will be forwarded to the county commissioners for final approval.

The former Lowes Foods building in Newland has attracted more interest from individuals and businesses. EDC and the county will evaluate options and benefits to the community.

Avery Cooperative Extension manager Jerry Moody informed the committee that the demand for trees is high and the amount of available land is less than the current demand. Christmas tree orders have already started coming in for next year’s season.

County Executive Phillip Barrier noted that the 402-page housing assessment will be presented at a meeting on Friday, Feb. 18, with a time and location yet to be determined. Barrier explained that the second home market in the U.S. Census is straining housing in the area and Avery “has to find that balance.”

Barrier also explained that the U.S. bailout, as it relates to federal government and North Carolina state guidelines, will have restrictions. However, a broadband press release will hopefully come out by the end of the month.

“There is an opportunity in the next few months to bring change to our county,” Barrier said.

Avery County Chamber of Commerce Director Anne Winkelman said there could be a festival in June at the Heritage Park Community Center with 40 potential vendors.

“Hopefully that will come true,” Winkelman said.

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