Economy

The world's 20 top economies will use all policy tools available to lift sluggish global growth, they said on Feb. 27, despite German disquiet over fiscal and monetary stimulus.

Bulgaria's gross foreign debt totalled EUR 34.14 B at the end of 2015, down 13.2% from a year earlier, the central bank has announced.

Gross foreign debt was equivalent to 76.5% of the 2015 GDP forecast at the end of December, compared with 92.1% of GDP at the end of December 2014, the Bulgarian National Bank (BNB) said in a monthly debt report.

The International Monetary Fund estimates that Greece will face great difficulties in servicing its debts in March, according to an article published by German magazine Der Spiegel entitled “Bankruptcy in March?”.

An unstable legal framework and low trust in the judicial system hinder private investment in Bulgaria, the European Commission said on Friday.

The art market has bounced back worldwide after prices slumped by more than 10 percent last year as investors look for a safer alternative to falling stock markets, the leading index Artprice said on Feb. 26.

President Recep Tayyip Erdo?an has repeated his opposition to higher interest rates and vowed to continue fighting against the "interest rate lobby," speaking on Feb. 26 at the opening ceremony of Vak?fbank Participation Bank, Turkey's sixth Islamic lender. 

Prime Minister Aleksandar Vucic and an IMF delegation met on Thursday to discuss the fourth review of the precautionary stand-by arrangement.

Global stock markets rallied on Feb. 26, helped by firmer oil prices, as finance ministers and central bankers from the world's leading economies gathered to discuss recent financial turmoil.

As G-20 ministers met in Shanghai, markets were awaiting the latest US growth data for more clues on the state of the world's biggest economy.

President Recep Tayyip Erdo?an hosted the top managers of Turkey's largest business group, Koç Holding, at the presidential palace in Ankara on Feb. 25, as reported by Anadolu Agency. 

The austerity policy has led the eurozone on the brink of an economic crisis and a monetary suffocation,” President of Hellenic Republic Prokopis Pavlopoulos said on Friday during the Delphi Economic Forum, held at the European Cultural Centre of Delphi.