Fiscal policy
Current account balance posts $1.65 bln surplus in Sept
Turkey's current account balance posted a surplus of $1.65 billion in September, bringing the 12-month rolling deficit to $18.4 billion, the Turkish Central Bank revealed on Nov. 11.
In September 2020, the current account balance posted a $2.3 billion deficit.
Electricity bills – Minister announces new aid
The Minister of Environment and Energy, Kostas Skrekas, announced a new aid to households for the electricity bills, speaking on the MEGA weekend show.
He left open the possibility for aid measures extended to gas consumers.
- Read more about Electricity bills – Minister announces new aid
- Log in to post comments
The G20 Summit Approved a Minimum Corporate Tax of 15%
The leaders of the world's largest economies today supported the imposition of a minimum tax rate on corporations, the Associated Press reported.
The agreement reached at the G20 summit in Rome aims to establish international tax rules so that multinational companies cannot avoid taxation by registering in offshore territories.
Local government debt keeps increasing
Ljubljana – The total debt of Slovenia’s 212 municipalities and their utilities increased by a further EUR 47.5 million last year to EUR 971.2 million, or 2.1% of GDP. Average total debt per capita thus increased to EUR 473 in 2020 from EUR 449 in 2019, a report compiled by the Finance Ministry shows.
- Read more about Local government debt keeps increasing
- Log in to post comments
Official Daianu: Financial crisis and pandemic push public debt up to 47pct of GDP in end-2020
The financial crisis and the pandemic have led to an increase in the public debt from about 15% of GDP in 2008 up to over 47% of GDP at the end of 2020, with a fiscal consolidation with an average annual deficit correction rate of approx. 1.5% of GDP to stabilize the debt at just over 50% of GDP by 2024, says the president of the Fiscal Council, Daniel Daianu.
Greece plans early repayment of loans
Greece is "getting rid" of expensive debt, laying the groundwork for the early repayment of part of the bilateral loans from the first Memorandum of 2010 (2.7 billion euros per year) and the further repayment of IMF loans (1.9 billion euros). The signal was officially sent by the Minister of Finance Christos Staikouras and according to information, these moves will start in the near future.
- Read more about Greece plans early repayment of loans
- Log in to post comments
Finance ministers in favour of continuation of investment cycle
Brdo pri Kranju – EU finance ministers on Saturday spoke in favour of a continuation of the bloc’s current investment cycle, amidst warnings that the soundness of public finances has to be borne in mind as stimulus spending is gradually wound down.
EU Finance Ministers Meet in Slovenia Friday Saturday to Amend Budget Spending Rules for Member States
European governments have spent hand over fist, despite ballooning public debt, to prevent the coronavirus pandemic from triggering economic calamity.
Now, the European Union faces calls to loosen its budget rules to allow the largesse to continue, but the topic is a sensitive one for many member states.
Fiscal Council: Budget revision draft law is weakening previously announced budgetary consolidation
The draft budget amendment weakens the budgetary consolidation as it was announced for 2021, the Fiscal Council said on Thursday night, in a release.
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.
class='cf'>
With June figures, the current account deficit continued to narrow for the fourth month in a row.