Gross domestic product

Bulgaria's GDP rose by 2.2 per cent in the second quarter of 2015 compared to the same quarter in 2014 - higher than the EU average.

GDP recorded a growth of 0.4 per cent compared to the first quarter of the year, data also say, using estimates of the National Statistical Institute released on Friday.

In the second quarter of the year, the Gross Domestic Product (GDP) of Bulgaria increased by 2.2 % compared to the same quarter in 2014.

The GDP, which exceeded BGN 20.9 B, recorded a growth of 0.4 % compared to the first quarter of the year.

This is revealed by the flash estimates of the National Statistical Institute, which were released on Friday.

Russian Economy Minister Aleksei Ulyukayev has said Moscow might have to review its current economic growth forecast after the country's Q2 gross domestic output contracted more than expected.

Data published earlier this week showed Russia's GDP is down 4.6% in April-July compared to the second quarter of last year.

The IMF "will note positive economic developments in Serbia and increase the real GDP growth projection for 2015 to 0.5 percent."

This was reported on Tuesday by Serbia's state broadcaster RTS.

Prime Minister Aleksandar Vucic said on Wednesday that Serbia's GDP growth in 2015 will be between 0.5 and one percent.

At the same time, he said, the national budget deficit will stand at 2.87 percent of GDP by the end of the year "so there is no reason for a budget review."

Bulgaria's gross foreign debt decreased by 1.59 B, or 4% at the end of May compared to the end of 2014, reaching EUR 38.18 B, or 88.9% of the projected 2015 Gross Domestic Product, official data showed on Tuesday.

Serbia's public debt was EUR 24.09 billion at the end of June, decreasing EUR 320 million in one month, the Ministry of Finance said in a release Friday.

According to the latest data from the Ministry’s statistics, the debt at the end of June amounted to 71.8 percent of gross domestic product (GDP), and the debt-to-GDP ratio fell 0.9 percent against a month before.

A Grexit scenario and a return to the national currency, the quaint and feeble drachma of old, would translate into huge losses for the economy and social upheaval that Greece has not witnessed since WWII!

In the first quarter of 2015, Bulgaria had the third-lowest government debt to GDP ratio in the EU, at 29.6%, preceded by Estonia with 10.5% and Luxembourg with 21.6%, according to Eurostat data.

Greece is a small country whose GDP changes has repercussions on other countries in the Eurozone.

And there could be a ripple effect as Greece sets a dangerous precedent