International economics

BELGRADE - Serbia is on a good path in reform implementation and has laid good foundations for long-term development, experts of the European Bank for Reconstruction and Development (EBRD) - which predicts a minimal 0.5 percent economic growth for Serbia in 2015 - said on Wednesday.

By Tasos Telloglou

The agreement between Greece and the United States Internal Revenue Service, providing for the mutual exchange of data regarding bank deposits, is in its final stretch.

 European lender will wait and see whether the next government is focused on the country?s commitments

By Evgenia Tzortzi

Despite falling oil prices, the Turkish economy may grow less than expected in 2015 due to weak external conditions and a slump in income earned from Russian tourists, the EBRD says The European Bank for Reconstruction and Development (EBRD) has cut its 2015 growth estimate for Turkey from 3.2 percent to 3 percent, citing weaknesses in external demand and lower spending by Russian touris

The European Bank for Reconstruction and Development (EBRD) has downsized its 2015 GDP growth forecast for Bulgaria to 0.8% from a rate of 2% in September 2014.

The foreign direct investment (FDI) in Bulgaria in the period January - November 2014 are lagging behind with 20 % compared with the same period for 2013.

According to the preliminary data of the Bulgarian National Bank (BNB), FDI amounts to EUR 1.224 B for the period.

The investments increased during the first quarter of 2014, but dipped sharply in the second quarter.

Turkey, where the European Bank for Reconstruction and Development (EBRD), has been active for only five years, has become the largest individual recipient of EBRD financing. Investments rose to 1.4 billion euros in 2014 from 920 million euros in the previous year, the EBRD said by a written statement on late Jan. 14.

Turkey has lagged behind other emerging markets in competitiveness levels and returned to the 1980s in terms of attracting foreign direct investment (FDI), World Bank Director for Turkey Martin Raiser said on Jan. 6, as reported by Cihan News Agency.

The World Bank's Board of Executive Directors approved Monday a USD 378.425 M loan for the development of Ukraine's energy sector.

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After revealing the first nine on Nov. 6, Prime Minister Ahmet Davutoğlu unveiled seven more transformation programs of the government’s ambitious reform strategy at a press conference on Dec. 18.