Economy of the Arab League

Dendias: Athens, Rome view Turkey-Libya MoU as 'illegal, groundless'

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."

Foreign trade gap narrows 43.5 pct

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.

France slams Turkey-Libya maritime border delineation deal

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 gap at $2.23B in November

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.

NSI: Economic Accounts for Agriculture for 2019

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.

Annual inflation rate drops to 3.4pct in October 2019

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.

The European Commission Raised Bulgarian GDP Growth Forecast for 2019 to 3.6%

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.