Abenomics

The World Bank has raised its growth projection for the Turkish economy by 0.5 percentage points to 5 percent for 2021.

Ljubljana – After contracting by an estimated 5.5% in real terms last year, Slovenia’s economy returned to growth in the first quarter of the year as GDP expanded at an annual rate of 1.6% in real terms or by as much as 2.3% when adjusted for season. It rose by 1.4% from the final quarter of 2020, data from the Statistics Office show.

Bulgaria's GDP is expected to grow by 2.7 percent this year and by 4.9 percent in 2022, according to the winter economic forecast for 2021 of the European Commission.

Ljubljana – Slovenia’s gross domestic product (GDP) was down 2.6% year-on-year in real terms in the third quarter, the Statistics Office reported on Monday. In seasonally-adjusted terms, GDP was up 12.4% compared to the quarter before while dropping 2.9% year-on-year.

In the first nine months of the year, Slovenia’s economy shrunk by 6% compared to the same period in 2019.

Romania's economy shrank by 12.3 percent in the second quarter of this year compared to the first quarter, according to data released on Friday by the National Institute of Statistics. Compared to Q2 2019, the Gross Domestic Product fell 10.5 percent both in gross and seasonally adjusted terms.

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.

Greece's economy contracted in January-to-March compared to last year's fourth quarter, the country's statistics service (ELSTAT) said on Thursday.

The seasonally adjusted data showed gross domestic product shrank 1.6 percent in the first quarter, at a faster pace compared to a 0.7 percent contraction in October-to-December.

The "World Economic Outlook", the latest report of the IMF about the global economic situation, predicts sharp contractions in most Balkan economies as a result of the pandemic in line with the severe downturn expected in the rest of the European and world economies.

The World Bank has revised significantly its estimates of the Romanian economy's advance this year, down to 0.3 percent from 3.8 percent, as projected three months ago, but growth would gradually bounce back in the second half of 2020 and further accelerate in 2021 to 4.4 percent, according to the World Bank's economic update spring 2020.

Bulgaria's economy will continue to grow at a moderate pace in 2020 and 2021, but it will be marked by a significant slowdown. The main reason will be the weakening internal consumption, which is the main engine of the economy, and investment will not offset this process.