Economic

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World Economy

The rise in oil prices in 2006 has raised prices and, consequently, raised the inflation in many countries around the world. This has caused many government banks (eg the European Central bank) to raise the rates, which in its turn has raised the cost of capital for all private enterprises. This development is not likely to disapear in the near future, since the world situation is more likely to deteriorate than not. This, among others, has put:

  • A pressure to the enterprises to lower their operating costs, in order to reduce their capital needs
  • A pressure to the disposable income of the consumers, due to the increasing of retail prices