Gross domestic product

BELGRADE - Serbia's real GDP was up by 1.7 pct y-o-y in Q2 2023, the Serbian national statistical office RZS said in a flash estimate released on Monday.

The RZS also said a more detailed GDP calculation for Q2 2023, performed at lower aggregation levels, would be published on August 31.

BELGRADE - Serbian President Aleksandar Vucic said on Thursday Serbia had registered a good FDI inflow of 2.122 bln euros in the first six months of 2023, or 31 pct more compared to the same period of last year.

The road to changing the country's development model will be long and difficult. The intention to stop Greek GDP being so dependent on consumption has not yet begun to be reflected on the GDP blueprint.

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.

In the first quarter of 2023, the gross domestic product (GDP) grew by 2.3% compared to the first quarter of 2022 and by 0.5% compared to the fourth quarter of 2022 according to seasonally adjusted data, NSI reports.

In the first quarter of 2023, the generated GDP amounted to BGN 39,970 million at current prices according to preliminary data.

Turkey's economy expanded more than expected at the start of the year, bolstered by pre-election spending and strong household consumption.

Türkiye's gross domestic product (GDP) grew 4 percent year-on-year in the first quarter, data from the Turkish Statistical Institute (TÜİK) released on May 31 showed.

Recently, both the Bank of Greece and a team of economists at Alpha Bank sounded the alarm: The production gap - i.e. the difference between the GDP we produce and what we could produce with full exploitation of the available production tools - reached zero. For the economy to grow, investments are needed. Otherwise, prices will keep rising.

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.

Annual inflation in Bulgaria for April 2023 compared to April 2022 is 11.6%, reports the NSI.

The quarterly total income on average per household person in the first quarter of 2023 was BGN 2,394 and increased by 19.3% compared to the same quarter of 2022.

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.