Economic growth

The Turkish economy grew by 4.5 percent last year after expanding 5.5 percent in 2022, the data from the Turkish Statistical Institute (TÜİK) have shown, slightly exceeding the government's forecast.

In the medium-term program, the government had predicted a growth rate of 4.4 percent for 2023.

Cyprus experienced a notable 2.4% surge in industrial production in 2023, surpassing the figures from the previous year.

The Statistical Service of Cyprus (CyStat) unveiled these promising findings on Wednesday, highlighting the nation's economic growth.
 
 
 

Minister of Economy Robert Habeck stated that the economic situation in Germany is exceptionally challenging during the presentation of the significantly lowered new government forecast for growth this year. The German government has adjusted its projection for economic growth in 2024 downward, from 1.3% to 0.2%.

BELGRADE - Serbia's real GDP was up by 3.8 pct y-o-y in Q4 2023, the Serbian national statistical office RZS said on Wednesday in a flash estimate of constant-price GDP growth.

The RZS also said a more detailed GDP calculation for Q4 2023, performed at lower aggregation levels, would be published on February 29.

Greece's economic outlook has improved notably, but significant challenges remain, the IMF said in a report released on Wednesday.

Bulgaria is set to witness wages outpacing inflation at a two-to-one ratio in 2024, according to Allianz Trade's latest report. Anticipating a 9% growth in wages compared to an expected 4% inflation, the report indicates a slowdown from the 13.5% wage growth projected for 2023. Despite this deceleration, wages are poised to comfortably surpass rising prices.

The latest World Economic Situation and Prospects report from the United Nations Department of Economic and Social Affairs (UN DESA) sheds light on Bulgaria's economic trajectory, painting a cautiously optimistic outlook amid global uncertainties.

Turkish economy grew by a more-than-expected 5.9 percent in the third quarter of 2023 from a year earlier, with GDP growth accelerating from 3.9 percent in the three months to June, data from the Turkish Statistical Institute (TÜİK) have shown.

The Organisation for Economic Co-operation and Development (OECD) has revised Bulgaria's economic growth forecasts in its latest World Economic Outlook report, signaling a 1.7% growth rate for 2023, slowing due to external factors, with a projected acceleration to 2.8% in 2024.

A pay rise alone is not enough to lure back scientists who emigrated during the financial crisis of the previous decade, according to the majority of participants of a conference on the challenges and opportunities for individuals, society and the economy by the National Documentation Center.