Economic growth

OECD cuts world growth forecast, warns of Omicron threat

The Organization for Economic Co-operation and Development (OECD) has revised up its 2021 growth forecast for Turkey by 0.6 percentage points to 9 percent.

"In the absence of further shocks, GDP growth is projected to be 9 percent in 2021 before easing to 3.3 percent in 2022 and 3.9 percent in 2023," the OECD said in its Economic Outlook report released on Dec. 1.

Int'l financial bodies boost growth forecasts for Turkey

Despite pandemic-driven bottlenecks in the global supply chain, Turkey's rapid economic recovery, its progress in vaccinating its population against COVID-19, and its strong industrial production trends have resulted in international organizations revising their 2021 growth forecasts for the country.

Bulgaria: Prices Will Rise More Steeply than Expected - Finance Ministry

The Ministry of Finance has revised its autumn forecast for economic development. According to new estimates, real gross domestic product (GDP) growth will reach 4%, and next year will be heading towards 5% with a forecast of 4.9%. The main reason for accelerating economic growth will be investment, as well as the stabilization of the private sector after the Covid crisis.

Turkey's labor market overcomes effects of pandemic: Central Bank head

Turkey's labor market has largely overcome the impact of the coronavirus pandemic thanks to tourism and the re-opening of the services sector, the country's Central Bank head said on Sept. 28. 

Speaking at a finance event in the metropolis Istanbul, Şahap Kavcıoğlu stressed that the main economic figures in the country were positive in 2021.

JP Morgan revises up Turkey's 2021 growth forecast to 8.4 pct

U.S.-based multinational banking and financial services company JP Morgan on Sept. 1 revised its estimate for Turkey's economic growth for 2021 from 6.8 percent to 8.4 percent.

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According to a report published by the firm, the Turkish economy continued to grow "at full speed thanks to robust domestic demand and surging export demand in the second quarter."

What Fitch and BofA see for the Greek economy – Prospects and risks

International and domestic analysts see positive signs for the course of the Greek economy in 2021, but also in 2022, guided by both the resilience of GDP in the previous quarters, the best of the expected tourism July - August and of course the disbursements of the Recovery Fund.

Consumption Boosts Bulgaria's Economy by 9.6% in the Second Quarter

Bulgaria's economic growth in the second quarter of 2021 is unusually strong - 9.6% on an annual basis, according to the express estimates of the National Statistical Institute (NSI). However, this is not a surprise given the drastic decline in GDP during the crisis in April and May last year.

Asian Migrants Fill Jobs That Picky Albanians Now Spurn

Haque is one of 10 Bangladeshi workers employed by the INCA factory in Lezha. The manager says Albania no longer supplies enough labour, forcing him to seek workers far away.

"I plan to stay here for a long time because I have no other solution," Abudalep, 28, another Bangladeshi migrant employed at the INCA factory told BIRN. "In my country there is no work," he adds.

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