Economy of the European Union

Industrial Output Grows by 1,5% in Bulgaria Y/Y

 In May 2021, industrial production in Bulgaria grew by 15.1 per cent compared to May 2020, reads the latest Monthly Report on Bulgarian Economy released by the Economy Ministry on Thursday. Growth continued to be driven by the manufacture  of  motor  vehicles, trailers  and   semi-trailers, of machinery and equipment, and of metal   products.

BNR: Economic activity will continue growth in Q2, Q3, earlier than anticipated

The members of the Council of Administration of the Romanian National Bank (BNR) estimate that economic activity will continue to grow in the second and third quarter at greater pace than estimated in May, but in gradual deceleration in relation to the first quarter, according to the minutes of the monetary policy session of July 7, 2021.

Christos Staikouras in Brussels

The Minister of Finance, Mr. Christos Staikouras, is going to Brussels today, in order to participate in the Eurogroup meeting and a day later in the Ecofin meeting.

At tomorrow 's Eurogroup, Eurozone Finance Ministers will discuss the Eurozone' s fiscal course and prospects, focusing on next year.

EU Commission upgrades Slovenia’s GDP growth forecast to 5.7%

Brussels – The European Commission projects that Slovenia’s economy will expand by 5.7% this year, a 0.8-point increase on its May forecast. The outlook for 2020 was slightly downgraded to 5%. The eurozone as a whole is expected to post growth rates of 4.8% and 4.5%, respectively.

Recommendation on the Excessive Deficit Procedure in case of Romania, adopted on Friday at the ECOFIN Meeting

The Recommendation on the Excessive Deficit Procedure in the case of Romania was adopted on Friday at the Meeting of the Economic and Financial Affairs Council (ECOFIN), in Luxembourg, and our country's commitment is to return to a budget deficit up to 3% of GDP by 2024, according to a press release from the Ministry of Finance.

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