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International Information Centre for Balkan Studies



State budget revenues, up 4% in Romania in 2015

 

 

 

Romania’s state budget recorded revenues of EUR 51.5 billion last year, up by 4% compared to 2014.

Read more: State budget revenues, up 4% in Romania in 2015

Cyprus, Israel and Greece cooperate in gas exploration

 

 

 

Cyprus, Israel and Greece view the energy sector, and in particular, natural gas and renewable energy, as a solid foundation for cooperation in the Eastern Mediterranean basin, says the joint declaration issued after the trilateral meeting in Nicosia on 27.01.2016.

Read more: Cyprus, Israel and Greece cooperate in gas exploration

Bulgaria had among largest decreases in overnights at tourist establishments in EU in 2015 – Eurostat

 

 

 

Bulgaria was among three EU countries with the largest decreases in tourism in 2015, measured by the number of nights spent in tourist accommodation establishments, according to estimated figures released on January 26 2016 by EU statistics agency Eurostat.

Read more: Bulgaria had among largest decreases in overnights at tourist establishments in EU in 2015 –...

ESM head rules out haircut for Greek debt

 

 

 

The head of the European Stability Mechanism (ESM) on 26.01.2016 ruled out a haircut for Greek debt but said extending debt maturities and deferring interest are options that officials could use to make Greece's debt more manageable.

Read more: ESM head rules out haircut for Greek debt

Russian crisis to result in losses over $11 billion for Turkey: report

 

 

 

The economic effect of sanctions imposed on Turkish goods following Turkey's downing of a Russian plane in its airspace late last year is likely to surpass $11 billion this year, according to a report by the Turkish Social, Economic and Political Research Foundation (TÜSES) released on 25.01.2016.

Read more: Russian crisis to result in losses over $11 billion for Turkey: report

Fitch confirms Romania’s rating due to healthy economic outlook

 

 

 

Fitch Ratings has confirmed Romania’s investment grade rating at the BBB- level for the long-term foreign debt and at BBB for the local currency debt. The outlooks are stable.

Read more: Fitch confirms Romania’s rating due to healthy economic outlook

Kosovo approves the national strategy for economic development

 

 

 

Government of Kosovo continues its efforts for the economic development of the country with the scope of reducing unemployment and poverty.

Read more: Kosovo approves the national strategy for economic development

Greek Prime minister says accepts partners’ demand for IMF role in bailout

 

 

 

Greek Prime Minister Alexis Tsipras said on Thursday (21.01.2016) that Athens accepts its European partners' insistence that the International Monetary Fund should play a role in supervising the country's international bailout.

Read more: Greek Prime minister says accepts partners’ demand for IMF role in bailout

Romania’s Transgaz gets EUR 179 mln for gas interconnector project

 

 

 

The European Union member states have agreed on the European Commission’s proposal to invest EUR 217 million in 15 trans-European energy infrastructure projects.

Read more: Romania’s Transgaz gets EUR 179 mln for gas interconnector project

Creditors Urge Croatia to Curb Public Debt

 

 

 

Leading creditors and potential investors have advised the new government of Tihomir Oreskovic to act fast on cutting growth in public debt.

Croatia's new government must tackle growing public debt and maintain the independence of the central bank, Croatia’s creditors and potential investors - taking part in the South-Eastern Europe investment conference in Kitzbuhel in Austria - have agreed.

Read more: Creditors Urge Croatia to Curb Public Debt

FDI in Bulgaria in January-November 2015 was 1.47B euro

 

 

 

Foreign direct investment in Bulgaria in the first 11 months of 2015 stood at 1.47 billion euro, the equivalent of 3.3 per cent of the gross domestic product, statistics from the Bulgarian National Bank (BNB) showed on January 18. In the same period of 2014, FDI was 1.21 billion euro, but the original amount reported by BNB last year was 1.22 billion euro, which was revised downward later.

Read more: FDI in Bulgaria in January-November 2015 was 1.47B euro

Greek industrial turnover declines 10.7 pct y-o-y

 

 

 

Industrial turnover shrank by 10.7 percent in the 12-month period from December 2014 to November 2015, compared with the December 2013 to November 2014 period, figures published on Tuesday by the Greek statistical authority, ELSTAT, have shown.

Read more: Greek industrial turnover declines 10.7 pct y-o-y

Athens says TTIP should be ratified by national parliaments

 

 

 

The Transatlantic Trade and Investment Partnership (TTIP) should be a “mixed” agreement and, therefore, be ratified by national institutions, according to Greece’s economy minister. 

Read more: Athens says TTIP should be ratified by national parliaments

Dollar-needy Turkey tightens foreign currency rules

 

 

 

Unable to stop the economic hemorrhage sparked by the flight of foreign investors and money, Turkey’s government has tightened the country’s 26-year liberal foreign exchange rules. Travelers exiting Turkey are now required to make declarations of cash and credit cards or face sanctions on charges of money laundering and smuggling.

Read more: Dollar-needy Turkey tightens foreign currency rules

Greece: 20 pct of bad loans in hands of strategic defaulters

Some 20 percent of the country’s bad loans, or about 20 billion euros, is owed by so-called “strategic defaulters” and constitutes both corporate and household credit, according to the governor of the Bank of Greece, Yannis Stournaras.

Read more: Greece: 20 pct of bad loans in hands of strategic defaulters

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