Economy

The European Bank for Reconstruction and Development (EBRD) has predicted in its latest Regional Economic Prospects report that Türkiye's earthquake-hit economy will grow 2.5 percent in 2023.

This was lower than the 3 percent growth GDP expansion forecast in the previous report.

The Turkish growth is expected to bounce to 3 percent in 2024, according to the developments bank.

China's economic data for April missed expectations last month, official figures showed yesterday, as low demand and high youth unemployment led to a patchy recovery after lifting strict COVID rules.    

Retail sales - a key indicator of domestic consumer activity -- grew 18.4 percent on-year, data released by the National Bureau of Statistics (NBS) showed.    

Mytilineos is close to reaching an agreement on green energy in North America, Evangelos Mytilineos, chairman and CEO of Mytilineos Energy & Metals, told Bloomberg TV on Tuesday.

In an interview, Mytilineos said that the framework in North America is very attractive and noted that in Europe the system is more bureaucratic and things move more slowly.

The market's growing optimism about political stability in Greece after the elections and the favorable views on Greek banks by foreign firms contributed to a significant rebound of local stocks on Tuesday that sent the Athens benchmark to levels unseen in nearly nine years. The price rise also came with an increase in turnover, which approached 100 million euros.

BRUSSELS - Serbia has partly carried out a 2022 policy guidance but has reached a good level of compliance in most statistical areas, according to the Joint Conclusions of the Economic and Financial Dialogue between the EU and the Western Balkans and Turkey (ECOFIN).

Driven by external demand, Slovenia's economy expanded at an annual rate of 0.7% in the first quarter of 2023, after growing by 0.2% in the previous quarter, fresh data from the Statistics Office shows.

BELGRADE - The Serbian dinar's official median exchange rate against the euro is 117.2799 dinars for one euro on Tuesday, which is a slight change from Monday, the National Bank of Serbia said.

The dinar is steady against the euro m-o-m, up by 0.2 pct y-o-y and steady relative to the beginning of the year.

Demand has been rising for secondhand cars in a market trying to fend off the tight supply of new vehicles.

Besides the availability problems, what drives the demand is people's expectations that prices will go up in the coming months due to the perceived depreciation of the local currency.

Slovenia will introduce a new public transport pass on 1 June to allow passengers to use all public transport available in the country except for city transport. Integration of city public transport into the system is planned by the end of the year, according to the Environment Ministry.

BRUSSELS - Serbia will see 1.9 pct GDP growth this year and 3 pct growth in 2024, according to the European Commission's Spring 2023 European Economic Forecast, released on Monday.

"Economic growth is projected to slow to 1.9 pct in 2023, mostly on the back of decelerating private consumption growth as still high average inflation dents real disposable income," the report says.