The IMF projected India's GDP to grow at 7.3 % in 2006 and 7% in 2007 in its 2006 World Economic Outlook, published this week. It said that India needed to speed up reforms, especially in labour, infrastructure and the power sector to improve economic growth. The IMF also said that GDP growth in India has continued to surprise, driven by strong domestic demand. However, investment growth has yet to gain momentum.
The IMF expects Romania's GDP to grow by 5.2% this year, lower than the government's more 6% projection. The IMF also forecasts inflationthis year to be a 7.8% against the 7.2% annual rate expected by the government. Inflation will be driven by demand-side pressures such as rising wages, growing credit and lower tax rates, said the fund.
Poland's Harmonized Index of Consumer Prices (HICP) rose 0.9% year-on-year in March, unchanged from January and February, Eurostat announced. Average HICP inflation for all 25 member states of the EU in March was 2.1% year-on-year, versus 2.2% in February.
Brazil's state oil and gas monopoly PetroBras resumed gas exports from Bolivia to Brazil on April 18, as the company has repaired its San Antonio gas pipeline in southern Bolivia. The pipeline transporting oil and gas from the San Antonio well ruptured on April 2, because of heavy rainfalls and mudslides.
The presidents of Bolivia, Uruguay and Paraguay have signed an agreement to begin studies for a natural gas pipeline connecting the three countries. The project is crucial for Uruguay and Paraguay to reduce their dependency on the irregular supply from Argentina. The pipeline will extend over 6,000 km and will cost $2.0 billion to $2.5 billion.
Maroc Telecom plans to become a Mobile Virtual Network Operator and enter the European market by offering its first services in France, followed by Belgium.