Financial crises

The decline in inflation is expected to continue in the coming period, Vice President Cevdet Yılmaz has said, noting that annual inflation has fallen by 27 points in the past four months.

"In mid-2025 or in the fall, we won't be talking about inflation anymore," Yılmaz said in a speech at a gathering with businesspeople in the province of Denizli.

Greece must revise its budget for 2025 because there is more money available than anticipated. This is due to the increased tax revenues and the early repayment of previously taken loans ahead of schedule.

Between 2.1% and 2.9% will be inflation in Greece over the three-year period 2024-2026, with structural inflation (excluding food and energy) at 2.5% to 3.4% over the same period, according to the “Inflation Monitor” which published today by the Bank of Greece.

Türkiye's short-term external debt stock inched up 0.1 percent from the end of 2023 to $176.4 billion as of September, the Central Bank has said.

Banks' short-term external debt stock increased by 15.5 percent to $79 billion, while other sectors' short-term external debt stock decreased by 3.9 percent to $59 billion.

Troubles in the European auto market are posing risks to Turkish carmakers, according to Cengiz Eroldu, the president of the Automotive Manufacturers' Association.

Eroldu noted that Europe is the largest export market for the Turkish auto industry.

Türkiye's exports reached $23.6 billion in October, marking a historic high for the month, Trade Minister Ömer Bolat has announced.

Speaking at an event organized by the Turkish Exporters Assembly (TIM) in Türkiye's Mediterranean resort city of Antalya on Nov. 2, Bolat highlighted that the country's exports grew by 3.6 percent compared to October last year.

Confidence in the Turkish economy improved, while inflation expectations declined in October, separate surveys from the Central Bank and the statistics authority have shown.

The economic confidence index rose for a second month in raw, rising 3.2 percent in October from September, the Turkish Statistical Institute (TÜİK) said on Oct. 30.

Greek Finance Minister Kostis Hatzidakis told Reuters that the government will maintain fiscal prudence to safeguard its growth path and emergence from a debilitating debt crisis a decade ago, even amid higher wage demands by striking teachers and ferry workers.

Deputy National Economy and Finance Minister Christos Dimas highlighted Greece's progress from 2019 to 2024 in a speech at New York University's Stern Business School.

Dimas reviewed Greece's recent economic performance, discussing the government's goals, challenges, and initiatives aimed at improving living standards, reducing unemployment, raising wages, and curbing tax evasion.

The Greek economy has recovered, but it is still in great need of productive investments that will create many well-paid jobs. Greece's productive model cannot be changed with "investments" only in real estate and tourism.