Macroeconomics

The National Statistical Institute reported here on Wednesday that inflation in August 2021 was 3.7 per cent compared to August 2020, and 0.8 per cent compared to July 2021.
The inflation rate since the beginning of the year (August 2021 compared to December 2020) was 3.1 per cent.

Fitch Ratings has revised up Turkey's 2021 economic growth forecast to 9.2%, according to the rating agency's Global Economic Outlook for September, released on Sept. 16. 

The new figure is a massive upward revision from the agency's previous upgrade made on Aug. 13 when it revised up Turkey's growth forecast to 7.9%, from 6.3%.

Turkey's current account balance posted a deficit of $683 million, down $1.3 billion from the same month last year, the Turkish Central Bank announced on Sept. 13.

With July figures, the current account deficit saw its eleven-month low.

According to the balance of payments figures released by the bank, the country's 12-month rolling deficit totaled almost $27.8 billion.

The head of Turkey's Central Bank on Sept. 8 signaled a shift away from the sometimes-volatile headline inflation figure to core inflation, an indicator that may better reflect the true strength of the nation's economy.

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Strong GDP growth of 16.2% in the second quarter compared to 2020, following in the footsteps of the rest of the eurozone economies.

Ljubljana – The annual inflation rate in Slovenia in August stood at 2.1%, mostly due to significantly more expensive petroleum products, while monthly inflation rate was at 0.1%, the Statistics Office reported on Tuesday.

Ljubljana – Slovenia’s GDP increased by 16.3% in year-on-year comparison in the second quarter of the year, the Statistics Office reported on Tuesday. The growth was powered by household spending and gross investment. Foreign trade was up significantly as well.

International and domestic analysts see positive signs for the course of the Greek economy in 2021, but also in 2022, guided by both the resilience of GDP in the previous quarters, the best of the expected tourism July - August and of course the disbursements of the Recovery Fund.

The Turkish Central Bank's total reserves stood at $105.8 billion as of July 31, the bank announced on Aug. 27.

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Official reserve assets jumped 8.3% compared to $97.7 billion as of end-June, according to the bank's international reserves and foreign currency liquidity report.

In June 2021, the current account deficit decreased year-on-year, mainly due to an improvement in the services balance and, to a lesser extent, the primary and secondary income accounts, which was partly offset by the deterioration in the balance of goods.