Abenomics

Serbia's GDP will rise by three percent in 2017, the World Bank said in its latest forecast, upgraded by 0.2 percentage points from the January prediction.

In its June Global Economic Perspectives, the World Bank said the Serbian economy will see an annual growth of 3.5 percent in 2018 and 2019, which is the same as its winter forecast.

The additional income tax burden amounting to 1.8 billion euros or 1 percent of gross domestic product is the only tax measure certain to be enforced in the coming years. The promises of easing the burden on the middle class will only be activated if the government manages to exceed the target for a primary budget surplus of 3.5 percent of GDP.

Turkey's economy grew a faster-than-expected 3.5 percent in the fourth quarter of 2016, mainly due to a significant rise in consumption, data showed on March 31, bouncing back after last July's coup attempt and underpinning hopes of a recovery less than three weeks ahead of a referendum. 

Latin America's largest economy Brazil has contracted by 3.6 percent in 2016, shrinking for the second year in a row; statistics agency IBGE said on Tuesday. It confirmed the country is facing its longest and deepest recession in recorded history.

After two straight quarters of growth Greece's economy contracted from October to December, marking the worst quarterly performance since the height of the country's debt crisis in the summer of 2015.

Japan reported on Jan 24 its first annual trade surplus since the 2011 Fukushima nuclear disaster sent the country's energy import bills soaring.

The government trade data showed imports in 2016 fell nearly 16 percent, mainly due to the falling cost of crude oil and liquefied natural gas.

The latest growth figures have revealed that Turkey is now face-to-face with a serious growth problem. Even though we are at the top in comparison to other countries, it looks as if we will be talking about the growth problem more in the next term. 

Total credit in Greece's banking system contracted 1.7 percent year-on-year in July after a 2.5 percent decline in the previous month, Bank of Greece data showed on Tuesday.

Credit extended to the government fell 2.3 percent after decreasing by 5.7 percent in June, the central bank said.

Eurozone growth will be slower than previously expected with subdued inflation this year, the European Commission said in its economic forecasts on Tuesday, warning of high external and internal risks to the bloc's economy.

Eurozone growth will be slower than previously expected with subdued inflation this year, the European Commission said in its economic forecasts on Tuesday, warning of high external and internal risks to the bloc's economy.