Economic growth

Another day, another sell-off on the Greek bourse, whose benchmark slipped below the 500-point level on Monday on reduced turnover.

The Athens Exchange (ATHEX) general index ended at 484.40 points, a new 49-month low, shedding 12.24 percent from Friday's 551.97 points. The large-cap FTSE 25 index slumped 13.89 percent to 1,194.86 points.

The European Central Bank's refusal to adjust interest rates to breathe new life into the coronavirus-battered European economy resulted in eurozone securities being subject to a fresh round of sell-offs on Thursday. The Greek stock market plunged to new lows while the benchmark 10-year bond yield soared 51 basis points to 2.08 percentage points.

In the fourth quarter of 2019 GDP1 at current prices amounted to 32 682 million BGN. In Euro terms GDP reaches 16 710 million EUR in total and 2 391 EUR per person. According to the seasonally adjusted figures, the GDP growth rate in the fourth quarter of 2019 is 3.1% compared to the same quarter of the previous year and 0.8% compared to the third quarter of 2019.

The Greek bourse rebounded on Tuesday in a faster and more impressive fashion than was expected, after its worst week in over five years. While coronavirus concerns have not subsided, the recovery in US markets on Monday and hopes for action from central banks boosted prices.

The European Commission (EC) has today published country reports analysing each Member State's key socio-economic challenges.

Bulgaria's report gives a positive assessment of structural reforms and the prevention of macroeconomic imbalances in our country.

Greek stocks suffered heavy losses at the end of the week as they were affected by the very negative climate abroad regarding the impact of the coronavirus epidemic on the economy as well as the growing tension in northern Syria. This has taken the main index at Athinon Avenue below the 900-point mark, to a two-month low.

She said the full impact of the spreading disease that has already killed more than 1,600 people would depend on how quickly it was contained.

"I advise everybody not to jump to premature conclusions. There is still a great deal of uncertainty. We operate with scenarios, not yet with projections, ask me in 10 days," Georgieva said.

Bulgaria's economy will continue to grow at a moderate pace in 2020 and 2021, but it will be marked by a significant slowdown. The main reason will be the weakening internal consumption, which is the main engine of the economy, and investment will not offset this process.

Confidence in Turkey's key sectors of services, construction, retail trade advanced on a monthly basis in January, the country's statistical authority announced on Jan. 27.

The construction sector confidence index posted the highest performance this month, rising 14 percent month-on-month, Turkish Statistical Institute (TÜİK) data showed.

Turkey is expected to post an economic growth figure for the past year, Treasury and Finance Minister Berat Albayrak forecast yesterday.

"We will end 2019 with a historic soft landing in terms of gross domestic product," Albayrak said at a meeting with journalists in Istanbul, adding that inflation will keep being a major indicator for 2020.