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International Information Centre for Balkan Studies



Debts worth around $23 billion restructured in Turkey: Minister

Personal and corporate debts worth 77.6 billion Turkish Liras ($22.7 billion) have been restructured in line with a law on the Restructuring of Certain Public Receivables, also referred to as the “Tax Amnesty,” Finance Minister Naci Ağbal said Nov. 28, 2016.

Read more: Debts worth around $23 billion restructured in Turkey: Minister

Greece: ELSTAT figures show economic recovery in third quarter of 2016

Published data shows that the GDP increased by 1.8% on an annual basis and a 0.8% on a quarterly basis.

Read more: Greece: ELSTAT figures show economic recovery in third quarter of 2016

East Med pipeline: Opening new horizons for natural gas in SE Europe

The effort to produce natural gas from the major deposits of Eastern Mediterranean is now well underway, as Eni continues to develop the Zohr field in Egypt, Noble Energy advances Aphrodite in Cyprus and the Leviathan partners in Israel seek potential buyers. At the same time, Cyprus proceeds with its third licensing round, with its result expected to be announced before the end of this year.

Read more: East Med pipeline: Opening new horizons for natural gas in SE Europe

Greece: New budget predicts 2% GDP primary surplus in 2017

Budget provides a 2% GDP primary surplus for 2017, compared to the 1.75% target outlined in the bailout agreement.

Read more: Greece: New budget predicts 2% GDP primary surplus in 2017

Romania’s huge EU funding net gain revealed

Romania’s contribution to the EU budget over the last decade only totalled €13 billion, according to the country’s very first European Commissioner.  Since the Eastern European country joined the bloc on 1 January 2007, Romania has received €39 billion, claimed presidential adviser and former Language Commissioner, Leonard Orban, at an event to mark ten years of Romanian membership today (23 November).

Read more: Romania’s huge EU funding net gain revealed

Greece: Critical bailout review negotiations over the weekend

Primary surplus for 2018, collective dismissals and out-of-court settlement for businesses on the agenda.

Read more: Greece: Critical bailout review negotiations over the weekend

New energy strategy in Romania: Nuclear energy’s share will double by 2030

Romania’s Energy Ministry has launched into public debate the project on Romania’s energy strategy for 2016-2030.

Read more: New energy strategy in Romania: Nuclear energy’s share will double by 2030

ECB reduces ELA ceiling for Greek banks to €50.9bn

Reduction reflects improvement of liquidity in Greece and stabilization of private sector deposits flows.

Read more: ECB reduces ELA ceiling for Greek banks to €50.9bn

Obama’s Greece Visit – Dancing around the Greek debt minefield

First and foremost it was a great relief to see U.S. Treasury Secretary Jack Lew step off the plane and quietly slip into the Presidential super-limo in Athens November 15, while President Obama was left handling the airport arrival and protocol formalities with Greek Defense Minister Panos Kammenos. While Obama’s final overseas trip is well staffed, no other cabinet-level official is traveling with President Obama on this (first) stop, which tells you Washington clearly understood precisely what Greek Prime Minister Tsipras is looking for.

Read more: Obama’s Greece Visit – Dancing around the Greek debt minefield

Athens hopes Obama’s visit will pressure Germany over debt

The outgoing US President said he would press for “meaningful debt relief” in order to help Greece return to growth.

Read more: Athens hopes Obama’s visit will pressure Germany over debt

Bulgaria-Romania gas interconnector pipeline finished

Bulgarian Prime Minister Boiko Borissov opened at a ceremony on November 11, 2016 the gas interconnector pipeline with Romania, describing it as a key step towards diversification of gas supply sources and strengthening Bulgaria’s energy security.

Read more: Bulgaria-Romania gas interconnector pipeline finished

Greek economy: tax burden, debt relief, relations with IMF

Tax burden in Greece for 2016 amounts to 37.6% of the GDP

Read more: Greek economy: tax burden, debt relief, relations with IMF

Under financial strains, Turkey designs "parallel budget"

Last week, Turkey’s government appointed the head of the Privatization Administration, Mehmet Bostan, as director general and board chairman of a newly established public company, the Turkish Sovereign Wealth Fund, moving a step closer to the creation of a sovereign wealth fund. The plan was first brought up in late July and hastily passed through parliament the following month.

Read more: Under financial strains, Turkey designs "parallel budget"

Eurogroup reports progress on Greece, Cyprus

EU finance ministers heard positive reports on Greece's moves towards economic stability and the recovery of the Cypriot economy at their meeting in Brussels on 07.11.2016.

Read more: Eurogroup reports progress on Greece, Cyprus

Turkey plans to drill deep water oil well in Black Sea in 2018: Minister

Turkey plans to drill a deep water oil well in the western part of the Black Sea in 2018, Energy Minister Berat Albayrak said Nov. 8, 2016, adding that the country was also planning to bring the Akkuyu nuclear power plant online by 2023. 

Read more: Turkey plans to drill deep water oil well in Black Sea in 2018: Minister

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