Economy of the Arab League

Turkey's railways' share in the shipment of exported goods is on the rise, data compiled by state-run Anadolu Agency showed.

The value of deliveries made by the country's railway network soared 33 percent in 2019 from the previous year to stand at $967 million.

After a meeting on Tuesday with Italian Foreign Minister Luigi Di Maio, Greek counterpart Nikos Dendias said on Tuesday that Athens and Rome both view the memorandum of understanding between Turkey and the Tripoli-based government of Libya on maritime borders as "illegal and groundless."

Turkey reduced its foreign trade gap by 43.5 percent and reached $31.17 billion from $55.12 billion in 2018, the country's statistical authority announced on Jan. 31.

Turkish Statistical Institute (TÜİK) reported that during 2019 the country's exports rose 2.1 percent to reach $171.5 billion while imports fell 9.1 percent to stand at $202.7 billion.

The agreement on maritime boundaries in the Mediterranean Sea signed between Turkey and the Tripoli-based Government of National Accord (GNA) infringes the interests and the sovereign rights of European Union member states, particularly of Greece and Cyprus, France said on Thursday, adding that the memorandum violates the UN Law of the Sea Convention.

Turkey's foreign trade deficit reached to $2.23 billion in November, according to the country's statistical authority on Dec. 31.

The figure rocketed 232.2 percent on an annual basis last month, TÜİK said.

Turkish exports went up marginally 0.1 percent to $15.5 billion, while imports rose 9.7 percent to $17.7 billion in the same period.

According to the first estimate of Economic Accounts for Agriculture, the final output at basic prices of the agricultural industry in 2019 amounted to BGN 8,318.0 million, or 1.7% lower than in 2018. The decrease was mainly due to drop in the volumes - by 1.9%, the National Statistical Institute (NSI) said in a press release.

In the latest issue of The Economic Mirror publication, IMAD says that the year-on-year growth of Slovenia's GDP in the first nine months of 2019 was 2.7%, which is a significant slowdown compared to 2018, while close to its autumn projection for the whole year (2.8%).

The global investor community will be carefully monitoring the Greek government's ambitious efforts to accelerate the country's economic growth, Andreas Yannopoulos, founder of the annual InvestGR Forum, said on Wednesday ahead of the tabling of the final 2020 draft budget.

Romania's annual inflation rate slightly decreased to 3.4 percent in October 2019, from 3.5 percent in September, in the context of food stuff prices increasing 4.16 percent and those of non-food goods by 2.57 percent, while the price of services recorded an advance of 4.14 percent, according to the data published by the National Institute of Statistics (INS) on Tuesday.

Economic growth in Bulgaria would slow down over the next 2 years, but would remain close to its potential, according to the European Commission's autumn report. Brussels expects a moderate pace of Bulgarian exports, a fall in inflation, budget surplus and a continuing decline in public debt, BNR reported.