Macroeconomics

The Interim Report of the Bank of Greece on Monetary Policy 2024 was submitted today to the Speaker of the Greek Parliament and the Council of Ministers.

BELGRADE - The National Bank of Serbia (NBS) Executive Board decided on Thursday to keep the key policy rate at 5.75 pct, as well as the rates on deposit and lending facilities - at 4.5 pct and 7.0 pct, respectively, the central bank announced.

Türkiye's economic growth will ease to 3.5 percent in 2024 and 2.6 percent in 2025 as necessary macroeconomic stabilization policies will slow domestic demand, the Organization for Economic Cooperation and Development (OECD) said in its Economic Outlook report published on Dec. 4.

The annual inflation rate has continued to decline, slowing from 48.58 percent in October to a 17-month low of 47.09 percent in November, according to data from the Turkish Statistical Institute (TÜİK) on Dec. 3.

This represents the sixth consecutive month of easing in the annual inflation.

Τhe government will submit the first draft of the 2025 state budget to Parliament on Monday, in the shadow of the war in the Middle East, toeing a conservative line, but without incorporating a very negative scenario of soaring energy prices.

The President of SEV is calling for the amendment of the Development Law and the inclusion of large investments with tax incentives in it, given the termination of the Recovery Fund and as a measure to close the investment gap that the country continues to present against the rest of Europe despite the significant improvement of the last five years.

Reflecting on the depths of the Eurozone crisis a decade and a half ago, the economic and governance progress made by the EU's southern states is notable. As Northern Europe increasingly faces political instability and economic stagnation, Portugal, Spain, Italy, and Greece have been faring comparatively well recently.

This week will see the release of some important macroeconomic data for the Turkish economy, including monthly and annual inflation statistics.

On July 3, the Turkish Statistics Institute (TÜİK) will unveil highly anticipated consumer price inflation numbers.

A new incentive and reward system for public sector employees was presented by the Interior Minister Niki Kerameus and Deputy Interior Minister Vivi Charalampogianni during the Ministerial Council meeting Monday. 

The medium-term economic program is working and yielding the desired results, Finance Minister Mehmet Şimşek has said, vowing to further strengthen the program. 

"We are determined to resolve Türkiye's macroeconomic problems," Şimşek said in a speech he delivered at the Uludağ Economy Summit.