Business cycle

EU Commission Projects Bulgaria's Economic Slowdown in 2024

The European Commission's latest autumn economic forecast reveals Bulgaria's anticipated economic slowdown in 2023 and 2024, followed by a predicted rebound in 2025. Projections indicate a decrease in imports and exports alongside steady household consumption levels, set to rise gradually in the coming months of 2024.

Bulgarian Industries Suffer Double-Digit Slump in September Production

Bulgaria's industrial landscape faced a substantial setback in September, witnessing a sharp decline both on a monthly and yearly scale, according to data from the National Statistical Institute. The year-on-year contraction reached a staggering 11.5%, surpassing the 2.7% dip compared to August.

Brnabic: Signs of stabilisation, economic recovery visible

BELGRADE - At a session chaired by Serbian PM Ana Brnabic, a council tasked with coordinating activities and measures aimed at promoting GDP growth said on Monday there had been visible signs of stabilisation and economic recovery in Q3, that inflation was declining and that planned GDP growth of 2.5 pct could be expected to materalise in 2023 despite a major economic slowdown in Europe.

UK economy grows in second quarter

Britain's economy expanded slightly over the second quarter thanks to strong output in June and despite inflation remaining high, official data showed on Aug. 11.

Gross domestic product grew 0.2 percent in the April-June period after output expanded 0.1 percent in the first quarter, the Office for National Statistics said in a statement.

Cyprus stays on course for growth

The Cyprus Composite Leading Economic Index (CCLEI) continued its positive year-over-year growth trend in April 2023, providing further support for the economic forecasts of the Cypriot economy. Despite expectations of a slowdown, the economy is seen avoiding a recession, as indicated by the Economics Research Center (ERC) of the University of Cyprus' Economics Department.

For the winner in Turkey, one prize is an economy at the edge of crisis

ISTANBUL - Inflation in Turkey remains stubborn at 44%. Consumers have watched their paychecks buy less and less food as the months tick by. And now, government largesse and efforts to prop up the currency are threatening economic growth and could push the country into recession.

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