Prominent among these are: I fully endorse the objective of the foundation to promote the education of our youth and, hence, their development and the development of our society as a whole. The stronger growth was translated in an improvement of the labor market.
Much of the outcome depends on the flexibility of the companies that employ our workers. Thank you for your attention. As a result, world economic growth is projected to slow. This is especially important in view of the thousands of jobs to be filled in our tourism sector in the coming years.
Of course, they will be affected indirectly by the declining international interest rates and securities prices in the wake of the financial crisis. This is an area where I think much progress can be made in light of the forthcoming constitutional changes and the opportunities arising out of the current turbulence in the international financial markets.
The international financial and business services sector is likely to be affected to a greater extent, because the companies operating in this sector are very active in the international financial markets and have a larger exposure to innovative financial products.
Despite all the recommendations that have been given by international organizations to reform the labor market regulations, little progress has been made. Another weakness of our investment climate is the current administrative barriers, the long and unacceptable delays in administrative decisions by government departments and excessive discretion in administrative functions.
The unemployment rate started to decline from its peak of Being important determinants of our long-term growth potential, we should therefore have an economic policy that focuses on enhancing investments in physical as well as human capital. Together with the opportunities created by the constitutional changes, I shall subsequently indicate some of the reforms that are necessary to create a solid foundation for strong sustainable growth and resilience against future external shocks.
On the other hand, taxes represent a cost to firms, which reduce their incentives to invest and create jobs.
Willemstad, Curacao, April 4, Ladies and gentlemen, good afternoon, I think you agree with me that to stand still at the impact of the international financial turmoil on our economy is a well-targeted theme for this seminar. Investors have become very nervous and react strongly on economic news resulting in volatile developments in securities prices.
Virtually every day brings a new surprise in the financial markets. What we should do is to embrace the possibilities that the new status offers us by making our administrative system more transparent and efficient. Hence, the further development of our capital market will make the transmission of financial resources to investors more efficient and less costly.
What about the financial sector? Investment in our human capital, for example through improving education and training, will enhance the way that investments in physical capital are put to use. Interest rates showed already a gradual declining trend caused mainly by increased competition among domestic financial institutions and from abroad.
The long delays in obtaining permits are equivalent to a substantial loss of opportunities to capture investments.Given this favorable outlook, I like to turn now to the current state of our economy and the likely impact of the current international financial turbulence on our economy.
That is to say: looking ahead, how does the consequent drop in the US interest rate affect our economic developments? GLOBAL ECONOMIC TURBULENCE AND THE IMPACT ON U.S. FINANCIAL MARKETS AND POLICY. Wondering if interest rates will go up, and if so, how much?
To find out, join us for a breakfast presentation on the impact of the world’s current economic turbulence on U.S. financial markets.
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The hospitality and tourism industry works in a highly competitive environment. Organizations working in this sector are vibrant, complex and segmented.
With economic nationalism pulling the world towards isolationist protectionism, global supply chains may be strained but can sustain international trade The impact of protectionism on international trade.
There will undoubtedly be periods of turbulence and greater volatility. (c) An increase in international economic turbulence The increase in international economic turbulence will shift the aggregate demand curve to the left, as consumption and investment decline due to the lack of consumer and business confidence.Download