Government spending

Following recent upgrades from rating agencies and the achievement of fiscal stability, Greece plans to tap international markets in 2025, seeking to raise 11 billion euros.

The Greek state's presence in the bond markets next year is expected to be more intense compared to this year, due to the increased financing needs of the state budget.

BELGRADE - The Serbian government adopted the 2025 budget bill on Thursday, the Ministry of Finance told Tanjug.

Under the bill, planned budget revenues and receipts total 2,346.2 bln dinars - up by 8 pct or by 172.9 bln dinars relative to the 2024 supplementary budget bill.

Scope Ratings has upgraded Cyprus' credit rating to A- from BBB+, marking the country's first A-level rating from a major credit agency.

Scope Ratings highlights the positive outlook for Greece’s BBB- credit ratings, emphasizing that primary fiscal surpluses are expected to be maintained in the coming years. They project that Greece’s general government debt-to-GDP ratio will decrease to 150.5% by the end of this year and to 132.8% by 2029, down from a peak of 207% in 2020.

BELGRADE - The World Bank expects the Serbian economy to grow at a rate of around 4 pct over the medium term, primarily due to consumption and, in part, investments.

In a recent Q&A, the Ministry of Finance outlined key aspects of the Greek economy’s future based on the Mid-term Fiscal Plan for 2025-2028. This plan details structural changes and projections for the economy over the next four years. Here are the highlights:

1. What are the European fiscal rules and how do they differ from the Stability Pact?

Türkiye is "open for business and dialogue," Turkish Treasury and Finance Minister Mehmet Şimşek announced on Wednesday, emphasizing the nation's benefits from post-pandemic supply chain diversification and its comprehensive reform program to boost competitiveness, productivity, and potential growth.

The adoption of the euro remains an unattainable goal for Romania due to its persistent fiscal deficit, according to Mugur Isărescu, Governor of the National Bank of Romania (NBR), as cited by local media. Romania's deficit stood at 5.68% last year, one of the highest in the European Union, a figure that far exceeds the requirements for adopting the single currency.

Russia’s defense spending Russia’s defense spending will rise 25% in 2025 to 13.5 trillion rubles ($145.32 billion) from 10.8 trillion rubles in 2024, state budget documents released today show.

Defense spending will make up 32% of the total budget spending and will reach 41.5 trillion rubles.