Macroeconomics

Reflecting on the depths of the Eurozone crisis a decade and a half ago, the economic and governance progress made by the EU's southern states is notable. As Northern Europe increasingly faces political instability and economic stagnation, Portugal, Spain, Italy, and Greece have been faring comparatively well recently.

This week will see the release of some important macroeconomic data for the Turkish economy, including monthly and annual inflation statistics.

On July 3, the Turkish Statistics Institute (TÜİK) will unveil highly anticipated consumer price inflation numbers.

A new incentive and reward system for public sector employees was presented by the Interior Minister Niki Kerameus and Deputy Interior Minister Vivi Charalampogianni during the Ministerial Council meeting Monday. 

The medium-term economic program is working and yielding the desired results, Finance Minister Mehmet Şimşek has said, vowing to further strengthen the program. 

"We are determined to resolve Türkiye's macroeconomic problems," Şimşek said in a speech he delivered at the Uludağ Economy Summit.

Storm clouds are gathering over the Greek economy, at a time when, apart from the domestic challenges that continue to overshadow its prospects, such as demographics, climate change and the still large investment gap with Europe, the strengthening of external geopolitical tensions is creating a new scenario of uncertainty.

In its latest macroeconomic forecast released on Tuesday, the Bulgarian National Bank (BNB) anticipates a 2.2% increase in Bulgaria's Gross Domestic Product (GDP) for the year 2024, compared to 1.8% in 2023.

There are significant disparities between the expectations of sellers and reality when it comes to property transactions in Attica, according to data regarding sales in 2023 compiled by the RE/MAX Hellas network of real estate offices and the Spitogatos Price Index (SPI) of the online classifieds network Spitogatos.gr.

Fitch has upgraded Türkiye's rating by one notch, citing tighter monetary policy are helping reduce macroeconomic vulnerabilities.

Fitch moved the rating to "B+" from "B," while revising the country's outlook to positive from stable.

The way of transition will depend on the link between the monthly fee and the promotion of other benefits or incentives

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.