Macroeconomics

Greek tourism’s markets offer positive outlook

The course of GDP and private consumption in the main Greek tourism source markets is expected in 2024 to fluctuate at the same levels as in 2023.

At the same time, the prices of energy products, transport costs and inflation in general are expected to follow a downward course, while the euro will fluctuate at competitive levels in relation to the main international currencies.

Bulgaria's 2024 Wage Surge: Outpacing Inflation at 2:1 Ratio

Bulgaria is set to witness wages outpacing inflation at a two-to-one ratio in 2024, according to Allianz Trade's latest report. Anticipating a 9% growth in wages compared to an expected 4% inflation, the report indicates a slowdown from the 13.5% wage growth projected for 2023. Despite this deceleration, wages are poised to comfortably surpass rising prices.

Greek economy trending toward a violation of key economic principles

The latest data on savings present food for thought for the Greek government policymakers regarding its exit out of the woods. In 2022, people in the EU saved on average 12.7% of their disposable income. The rate was significantly lower than in 2021 (16.4%), and closer to the values before Covid-19 pandemic.

Changes to digital labor card

The Labor Ministry is bringing significant changes to the digital work card, as well as providing incentives to speed up its use by businesses.

Its objectives remain the containment of undeclared labor and transparency in terms of employment, but ways are being sought to limit the bureaucratic hurdles that often make it difficult to properly implement the measure.

Mali: IMF Executive Board has approved first review under arrangement with Serbia

BELGRADE - The IMF Executive Board has decided that a first review under a stand-by arrangement with Serbia was successful, and Serbian Finance Minister Sinisa Mali said on Thursday the decision was another confirmation of the appropriateness of Serbia's economic policy and structural and institutional reforms.

UK recession fears mount

Fears that the British economy is heading for recession mounted sharply after the Bank of England raised borrowing costs by more than anticipated.

The Bank of England on June 22 decided to lift its main interest rate by half a percentage point to a fresh 15-year high of 5 percent.

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