Multi-speed Europe
Austria Signals Possible Schengen Progress for Bulgaria and Romania
The Austrian media report that an upcoming meeting between the interior ministers of Bulgaria, Romania, and Austria in Budapest could bring new developments for the Schengen membership of Bulgaria and Romania, BNR reports. Set for November 22 and hosted by Hungary's EU presidency, the meeting was confirmed by Austria's Ministry of the Interior.
Hungary Calls for Schengen Access for Bulgaria and Romania Before Year's End
Hungarian Prime Minister Viktor Orban stated that "Bulgaria is ready to take its last steps for Schengen," adding that Hungary would continue to support Bulgaria and its citizens in their ongoing efforts.
Bulgaria's Industry Grows for Third Consecutive Month
Bulgaria's industrial production has seen growth for the third consecutive month, with a reported increase of 0.8% in August compared to July, following minimal gains of 0.1% in June and 0.6% in July, as per data released by the European Statistical Office.
IMF raises forecast for Cyprus’ economic growth
The International Monetary Fund has raised its forecast for Cyprus' economic growth in 2024 from 2.7% to 3.3%.
This updated prediction comes from the IMF's October World Economic Outlook report released on Tuesday.
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Bulgaria Among EU Countries with Lowest Government Debt as Eurostat Reports Deficit Rise Across the Bloc
In 2023, Bulgaria maintained one of the lowest government debt-to-GDP ratios in the EU at 22.9%, as overall government deficits in the euro area and EU slightly increased. Government deficits rose to 3.6% of GDP in the euro area and 3.5% in the EU, while government debt levels fell across the region.
Ciolacu Confident Romania Will Join Schengen Area with Land Borders This Year
Romanian Prime Minister Marcel Ciolacu has expressed strong optimism that Romania will join the Schengen Area, including land borders, by the end of this year. This announcement comes after several previous challenges in the country's quest for full integration into the Schengen framework.
EU leaders set course for tougher policy to send back irregular migrants
BRUSSELS - European Union leaders agreed on Thursday to use all their leverage, including trade, development aid and visa policy, to speed up returns of migrants illegally entering the bloc and asked the European Commission to urgently draft a law.
Inflation at 3.1% in September
Greece's September reading of the European Union-harmonized consumer price index was eventually even higher than projected on October 1 and further from the eurozone average, according to figures Eurostat released on Thursday.
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Prime Minister Glavchev: Bulgaria on Track for Eurozone Entry by Year-End
Prime Minister Dimitar Glavchev expressed confidence that Bulgaria will meet the price stability criterion necessary for joining the Eurozone by the end of the year, allowing the country to request a new convergence report.
Bulgarian Economist: We Need the Eurozone as Much as a Brain Tumor
Associate Professor Grigor Sariyski from the Institute for Economic Research at the Bulgarian Academy of Sciences (BAS) voiced doubts about the feasibility of the 3% deficit target outlined in Bulgaria's Budget 2025. In an interview with the Bulgarian National Radio (BNR), he raised concerns regarding the country's fiscal health and its prospects for joining the Eurozone.