Fiscal policy

Current account deficit continues to narrow for 4th straight month

Turkey's current account balance posted a deficit of $1.127 billion in June, down $1.95 billion from the same month last year, the Turkish Central Bank announced on Aug. 13.

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With June figures, the current account deficit continued to narrow for the fourth month in a row.

Government debt accounts for 49.7 pct of GDP January through May 2021

Public debt (government debt) rose at the end of the first five months of 2021 to about 527.5 billion lei, compared to 526.7 billion lei, after the first four months, according to data centralized by the Ministry of Public Finance (MFP). Relative to GDP, government debt fell to 49.7 pct of GDP at the end of May, from 49.9 pct of GDP at the end of April.

MPs pass stimulus package for tourism

Ljubljana – The National Assembly passed on Wednesday an emergency bill worth EUR 243.5 million to help the embattled tourism sector. The short-time work scheme has been extended and new holiday vouchers introduced. The opposition warned that the measures, which are this time aimed at the most affected sectors, came too late and were insufficient.

European Council recommends Romania to put end to excessive deficit by 2024

The European Council on Friday adopted a recommendation under the excessive deficit procedure for Romania that Romania should put an end to the excessive deficit situation by 2024 at the latest. "The Council found that an extension to the current deadline for Romania to correct its public deficit would be important in order not to compromise the economic recovery after the COVID-19 pandemic.

New tourist vouchers intended also for cultural, sport events

Ljubljana – Slovenia will introduce new tourism vouchers as it is finalising an emergency bill to help the tourism industry. Unlike the vouchers issued last year, it will also be possible to use these for services such as cultural and sport events or recreational activity, Economy Ministry State Secretary Simon Zajc said on Thursday.

Deprived people in Romania to be issued hot meal tickets under bill passed by Chamber

The Chamber of Deputies on Wednesday passed a bill approving Emergency Ordinance (OUG) 115/2020, which provides for the issuing of digital social vouchers of 180 lei per month for hot meals to people over 75 years of age whose income is at the level of social allowance and to the homeless, with the necessary amounts to be provided from non-reimbursable external funds.

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