Macroeconomics

Bulgaria's Gross Domestic Product (GDP) expanded by 1.6% in Q2 2014 over the same quarter of the previous year and by 0.5% compared to Q1 2014.

According to Bulgaria's national Statistical Institute flash GDP estimates for Q2 2014, the GDP at current prices amounted to BGN 19 215M. The Gross Value Added (GVA) at current prices amounted to BGN 16 423M.

Prime Minister Victor Ponta announced on Thursday the official figures confirm that Romania's economic growth continues, one of the "strongest in the EU."

By Basil Zafiriou*

Canada today is one of the most fiscally sound countries on earth, but that wasn’t always the case. Twenty short years ago, the country was drowning in debt and deficits, with a level of indebtedness similar to that of Greece at the time. How Canada managed to cure its fiscal frailty can help shed light on Greece’s more tortuous path to fiscal health.

Domestic consumption of olive oil has been on a mild slide on recent years, as the recession has led to cutbacks even in basic foodstuffs. Total turnover fell 4 percent in 2012, to 409.77 million euros.

The end of the Greek recession appeared well within sight on Wednesday, as the country’s gross domestic product contracted at the slowest pace in six years in the second quarter of 2014, according to figures released by the Hellenic Statistical Authority (ELSTAT).

BELGRADE - The inter-annual inflation in Serbia dropped in June to the lowest level in the past 50 years, totalling as few as 1.3 percent, the National Bank of Serbia (NBS) released on Wednesday.

In the first half of the year, inflation oscillated above the target rate of 4 plus or minus 1.5 percent, states the latest NBS report.

BELGRADE - The inter-annual inflation in Serbia dropped in June to the lowest level in the past 50 years, totalling as few as 1.3 percent, the National Bank of Serbia (NBS) released on Wednesday.

In the first half of the year, inflation oscillated above the target rate of 4 plus or minus 1.5 percent, states the latest NBS report.

Marcus Bensasson & Nikos Chrysoloras

Greece’s economy contracted at its slowest pace in almost six years, adding to signs that the country is set for a 2014 exit from its deepest recession in half a century as it emerges from its debt crisis.

Bulgaria’s 2014 budget gap will be above plan but the interim cabinet will try to contain it below the three-percent ceiling required by the EC.

"Exchange rate affected by consolidation of public finances"

BELGRADE -- The Serbian dinar (RSD) exchange rate is influenced by the pace of consolidation of public finances, NBS Governor Jorgovanka Tabaković said on Monday.