Economic growth

BELGRADE  - Serbian PM Ana Brnabic on Friday chaired a session of a council tasked with coordinating activities and measures for promoting GDP growth.

The council said construction, industry and business were key sectors for economic growth.

Greek economic growth will remain robust, with real GDP growth projected at 2.2% in 2023 and 1.9% in 2024, according to the Paris-based Organization for Economic Cooperation and Development (OECD).

The Cypriot economy maintained strong momentum in the first quarter of 2023 with real GDP registering an annual growth rate of 3.4%, marking signs of a slowdown against the backdrop of the uncertain external environment and the restrictive monetary policy by the European Central Bank in a bid to wrestle inflation under control.

The European Bank for Reconstruction and Development (EBRD) has predicted in its latest Regional Economic Prospects report that Türkiye's earthquake-hit economy will grow 2.5 percent in 2023.

This was lower than the 3 percent growth GDP expansion forecast in the previous report.

The Turkish growth is expected to bounce to 3 percent in 2024, according to the developments bank.

BRUSSELS - Serbia will see 1.9 pct GDP growth this year and 3 pct growth in 2024, according to the European Commission's Spring 2023 European Economic Forecast, released on Monday.

"Economic growth is projected to slow to 1.9 pct in 2023, mostly on the back of decelerating private consumption growth as still high average inflation dents real disposable income," the report says.

BELGRADE - Serbian PM Ana Brnabic on Monday attended a session of a council set up to coordinate measures and activities aimed at GDP growth.

The council said Serbian Q1 GDP was up by a higher-than-expected 0.7 pct, the Serbian government said in a statement.

Brnabic said industry and agriculture were the sectors to be credited for the GDP growth.

Singapore is expected to post slower economic growth this year but it "should avoid an outright contraction", Prime Minister Lee Hsien Loong said Sunday.

The Southeast Asian city-state's economic performance is often seen as a barometer of the global environment because of its reliance on trade with the rest of the world.    

China's gross domestic product grew 4.5 percent in the first quarter of the year, boosted by increased consumption and retail sales after authorities abruptly abandoned the stringent "zero-COVID" strategy.

The Greek bourse entered its four-day recess in line with most European bourses after yet another session of growth for its benchmark, the seventh in a row - a sequence unseen in over eight months. This has also been the third straight week of growth for the main index.

Greek manufacturers signaled a solid upturn in operating conditions during March, according to the latest PMI data from S&P Global with the seasonally adjusted S&P Global Greece Manufacturing Purchasing Managers' Index at 52.8 points in March, up from 51.7 in February.