Economy of the United Kingdom
Cyprus saw growth of 2.5% in 2023
Cyprus' economic growth is estimated at 2.5% in real terms in 2023. At current prices, the increase in gross domestic product (GDP) is estimated at 7.1%, according to the Statistical Service of Cyprus (CyStat).
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UK Economy Plunges into Recession!
Preliminary figures released by the Office for National Statistics (ONS) have revealed that the British economy has officially entered a recession in the latter half of 2023. The grim data indicates a contraction in GDP for two consecutive quarters, marking what economists term as a "technical recession."
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Slovenia’s exports and trade surplus at all-time high
Slovenia's merchandise exports increased by 0.8% year-on-year in June to hit an all-time monthly high of €5.3 billion. With imports falling over the same period, the national Statistics Office also reported the highest surplus on record.
UK to unveil new measures to support financial sector
Finance minister Jeremy Hunt is today due to announce new measures to support Britain's powerful financial sector, seeking to make the U.K. the "most innovative and competitive" financial centre in the world.
BoG sees economy growing 2.2% in 2023
The Bank of Greece projects an acceleration in Greece's recovery after 2023 and a gradual decline in inflation, with the economy expected to grow by 2.2% in 2023, 3% in 2024 and 2.7% in 2025, the central bank said in its Monetary Policy Report 2022-2023, which was presented to the speaker of the Greek Parliament and the cabinet.
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Current account deficit at $5.4 billion
Türkiye's current account deficit has widened from $4.9 billion in March to $5.4 billion in April, the Central Bank has announced.
The deficit was $2.54 billion in April last year.
"Gold and energy excluded, the current account indicated net deficit of $480 million in April," the bank said.
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UK economy ekes out growth in first quarter
Britain's economy grew 0.1 percent over the first quarter despite weakening in March, official data revealed Friday, as output continues to be hit by high inflation and strikes.
After narrowly avoiding recession last year, the economy advanced 0.5 percent in January before flattening in February and sliding 0.3 percent in March, the Office for National Statistics said in a statement.
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Current accounts deficit drops to €1.5 billion
The Greek current account deficit fell by 3 billion euros in the January-February period this year compared with the corresponding period in 2022, to stand at €1.5 billion, the Bank of Greece said on Thursday.
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Türkiye’s current account deficit at $8.8 billion
Türkiye's current account deficit came in at $8.78 billion in February, falling from a deficit of $10 billion in the previous month, data from the Central Bank have shown.
In February 2022, the balance of payments showed a current account gap of $5.3 billion.
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Royal Mail facing ‘systemic failure’
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Britain's Royal Mail has "systemically failed" to meet its mail delivery requirement, lawmakers have said, calling upon regulator Ofcom to probe the postal operator.
"We believe that Royal Mail has systemically failed to deliver against parts of its universal service obligation," read a report from the cross-party Business, Energy and Industrial Strategy Committee.
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