Government budget balance

The Greek economy is now in a position to create surpluses and continue to have growth in 2019, European Commissioner for Economic and Financial Affairs Pierre Moscovici said on Thursday.

"Greece has implemented 450 reforms that were necessary. I believe that Greece is now in a position to create surpluses and return to growth in 2019," Moscovici told France Info radio.

Turkey's central government budget balance recorded a deficit of 25.6 billion Turkish Liras ($5.3 billion on July 16 parity) in June with a dramatic year-on-year increase due to rising public expenditure ahead of the elections, official data has shown.

On 22 June 2018, the Council closed the excessive deficit procedure for France, confirming that it has reduced its deficit below the EU's 3% of GDP reference value.

The Council thereby abrogated its decision of April 2009 on the existence of an excessive deficit in France.

Turkey's central government budget balance saw a deficit of 20.5 billion Turkish Liras ($5.1 billion) in the January-May period, as election spending rose ahead of the snap election on June 24.

Greece's current account deficit widened in January compared to the same month a year earlier on the back of a worsening in the trade and services balances, the Bank of Greece said on Friday.
 

Romania's economy grew at record rates in 2017 due to an increase in consumption since fiscal relaxation.

But some analysts warn that while fast growth looks like good news, the government is neglecting investment and the country is bound to face difficulties in the future.

The Turkish Parliament has approved the government’s 2018 budget, which includes increased spending on defense and projects a rise in the fiscal deficit to 65.9 billion Turkish Liras ($17.28 billion).

BELGRADE - The Serbian parliament on Thursday passed the 2018 budget bill, which envisions revenues of 1,178 bln dinars and expenditures of 1,207 bln dinars.

The planned national fiscal deficit for 2018 is 0.6 pct of GDP, or 28.4 bln dinars, which is 40.7 bln dinars below the deficit planned in the 2017 budget.

BELGRADE - The parliamentary Committee on Finance on Monday unanimously adopted in principle the 2018 budget bill, which envisions revenues of 1,178 bln dinars and expenditures of 1,207 bln dinars.

The planned national fiscal deficit for 2018 is 0.6 pct of GDP, or 28.4 bln dinars, which is 40.7 bln dinars below the deficit planned in the 2017 budget.

Tanjug file photo

Greece expects to overshoot its budget surplus targets for a third consecutive year in 2018, a senior government official said on Monday, an outcome that could help ease the austerity burden imposed on a recession-weary population.