Economics

  1. Egyptian energy minister talks green energy transition

    Video content

    Video caption: Egyptian Minister of Electricity and Renewable Energy talks green energy transition

    Egypt’s Minister of Electricity and Renewable Energy, Dr Mohamed Shaker El-Markabi discusses the country’s progress in the green energy transition.

  2. 'It's emotional to consider how easily we can go green'

    Video content

    Video caption: One of Australia's richest people tells us about turning mining green

    One of Australia's richest people tells us about turning mining green. As the COP 26 summit begins, Dr Andrew Forrest of Fortescue Metals Group outlines how to go climate-friendly

  3. Price rises could hit highest rate in 30 years, says watchdog

    Inflation forecast graphic

    The cost of living could rise at its fastest rate for 30 years, the UK's fiscal watchdog has warned.

    The Office for Budget Responsibility's latest forecast says that inflation, which measures the change in the cost of living over time, is set to jump from 3.1% to an average of 4% next year.

    But it adds that figures released since its report was compiled suggests inflation could hit almost 5%.

    Read more here about the cost of living and where it is heading.

  4. A tale of two economies

    Jonathan Josephs

    BBC business reporter

    German and UK flags

    The UK’s economic recovery appears to be stronger than that of Germany, the EU's so-called engine room.

    The Office for Budget Responsibility expects the UK economy to return to pre-pandemic levels “around the turn of the year” and lifted its gross domestic product (GDP) growth forecast for 2021 to 6.5%.

    Meanwhile in Germany, it has just announced it will now take three months longer - to the end of March - for its economy to reach pre-Covid levels.

    And Germany’s growth forecast for this year has been cut from 3.5% to 2.6%.

    Germany's economy minister Peter Altmaier says that’s because of supply chain problems, higher energy prices and a lack of computer chips which means less cars are being made.

    Vaccine rollout, inflation and global supply chain problems are all reasons that a huge amount of uncertainty remains for economies everywhere - and in this environment, the outlook for different nations can change pretty quickly.

  5. Little action on rising inflation, say food and drink firms

    Paying food bill in restaurant
    Image caption: Rising inflation could result in rising prices for pubs, restaurants and consumers

    Now back to some more reaction to the Budget we've been hearing this afternoon.

    Ian Wright, chief executive of the Food and Drink Federation, says for many manufacturers and producers the 50% cut in business rates for hospitality announced in the Budget and the simplification of alcohol duty are “welcome news".

    However, he says the Budget does “little to address” labour shortages and adds it is also “worryingly short on action to tackle rising inflation”.

    “Given the pressures they are facing, many manufacturers will simply have no choice but continue to pass costs down the chain,” he says.

  6. Public pay unfrozen - but is that fair?

    Public v private pay

    One of the (many) pre-Budget announcements over the past week has been the news that a pay freeze for millions of public sector workers will be lifted.

    When it was introduced last year, the Treasury said that freezing pay in 2020-21 had helped "to ensure fairness between the private and public sector".

    But just how big - or small - is the gap in public and private sector wages?

    And is it fair? Read more here.

  7. Video content

    Video caption: e-Naira: Nigeria's new digital currency which is not a cryptocurrency

    Nigeria has officially unveiled the e-Naira, the first digital currency its kind to be issued through a government entity in Africa.