Spending more than we make

A ghost from the past, the current account deficit, has come to the fore again, on the occasion of the European Commission's spring forecasts, which calculated it at an alarming 11.8% of GDP in 2022, but also the strong warning by Bank of Greece Governor Yannis Stournaras on this specific issue.

Turkey's foreign trade gap narrows 32% in August

Turkey's foreign trade gap in August shrank 32.4% year-on-year, the country's statistical authority announced on Sept. 30. 

The figure reached $4.3 billion last month, down from a $6.3-billion deficit in August 2020, according to TÜİK.

Turkish exports jumped 52% on a yearly basis to hit $18.9 billion, as imports amounted to $23.2 billion, a rise of 23.6%.

BoG – 51% increase in travel receipts in the first half of 2021 – Arrivals decreased

In June 2021, the current account deficit decreased year-on-year, mainly due to an improvement in the services balance and, to a lesser extent, the primary and secondary income accounts, which was partly offset by the deterioration in the balance of goods.

Gov't approves 2021 state budget bill

The government adopted at its Friday's meeting the bill on the 2021 state budget, which remains "within the initial parameters", Prime Minister Florin Citu said. "We approved the Law on the 2021 state budget. We also approved the Law on ceilings, on specific indicators set out in the fiscal-budgetary framework for 2021, and the Law on the 2021 social security budget.

Exports weather the storm

Greek products have displayed remarkable resilience in international markets, but the pandemic has had a negative effect on Greek fuel exports as both sale prices and quantities exported posted a considerable decline last year.

Deputy PM Barna about 2021 layoffs: Each state-owned company has its own restructuring plans

Deputy PM Dan Barna says each state-owned company has its own restructuring plans and that Romania must meet, in 2021, a budget deficit of up to 7.2pct, which could lead to the dismissal of some employees working in the public system. "Each state-owned company has its own restructuring plans.