Macroeconomics

Speed, path of Romania's economic recovery, uncertain, conditional on pandemic developments (BNR)

The speed and path of the economic recovery are uncertain, conditional on the evolution of the COVID-19 pandemic and the associated restrictive measures, as well as on the economy's response to fiscal and monetary stimuli, according to the minutes of a monetary policy meeting of the board of the National Bank of Romania (BNR) of August 5, 2020.

Current account registers $2.9 bln gap in June

Turkey's current account balance posted a deficit of $2.93 billion in June, slightly down from the market expectation, according to the Turkish Central Bank data on Aug. 14.

The June figure widened by $2.8 billion from the same month last year, data showed.

The country's 12-month rolling deficit totaled at $11.1 billion, the bank said.

Millennial Blues: Pandemic Delivers Greece’s Stricken Generation Another Blow

Economic output is predicted to fall by 9.7 per cent, while unemployment, which had fallen below 20 per cent, is expected to return to over 20 per cent once again.

Stress and insecurity - but also hope

Alexandra Banou. Photo: Courtesy of Alexandra Banou

Romania's annual inflation falls to 2.3% in May

Romania's annual inflation rate fell to 2.3% in May 2020, from 2.7% in April, given that food prices rose by 5.25% , services by 2.6%, and non-food goods by 0.15%, according to data released on Friday by the National Institute of Statistics (INS). Consumer prices in May 2020 compared with April rose by 0.05%, and compared with December 2019 they advanced 1.47%.

Greek EU-harmonized inflation stays negative in May

Greece's annual EU-harmonised inflation stayed negative in May at -0.7% year-on-year from -0.9% in April, statistics service ELSTAT data showed on Wednesday.

The data also showed headline consumer price inflation at -1.1% from -1.4% in the previous month.

Prices were led lower by housing and transport costs, telecommunications and consumer durables, the data showed.

Turkey’s economy to bounce back in 2021: World Bank

The Turkish economy is expected to bounce back to a record 5 percent growth next year after contracting 3.8 percent in 2020, the Work Bank said in the latest issue of Global Economic Prospects report.
"The economy is expected to return to growth in 2021, on the back of gradual improvement in domestic demand," the bank said on June 8.

Damage Caused by the Lockdown Worse than the Virus Itself?

London (CNN) - Is the damage caused by the lockdown worse than the virus itself? That's a question raised by some world leaders and commentators who claim that economic and social hardship caused by strict coronavirus restrictions places a heavier burden on society than the death rate caused by the disease.

Coronavirus epidemic in numbers

The ranks of the jobless swelled from EUR 77,484 at the end of February to 88,648 by the end of April, according to Employment Service figures.

Growth slowed in May, but the jobless total has already exceeded 90,000 and many more are expected to be laid off in the coming months.

FinMin Citu: Budget revenues in May will not look very good, strong June is needed

Budget revenues in May will not look very good, so fiscal and monetary policies need to be relaxed even more, so that revenues in June are very good, the Minister of Public Finance Florin Citu said on Friday to the private TV broadcaster Digi 24. "In April, in the midst of an overlapping crisis, both economic and health, we managed to collect more to the budget than last year.

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