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Economic Indicators Bulletin in Southeastern Europe - July 2014

  • In Albania, according to the Ministry of Finance, the fiscal deficit moderated in 2014Q1 to 0.5% of GDP from 1.1% in 2013Q1, as public spending contracted to 6.2% of GDP from 6.7% for the same quarters. Revenues totalled 5.8% of GDP in 2014Q1 from 5.6% for the same period last year.

  • Bulgaria’s public debt, according to Eurostat, amounted to 20.3% of GDP in 2014Q1 from 18.9% in 2013Q4 and 18.0% in 2013Q1.

  • Cyprus’s public debt, according to Eurostat, amounted to 112.2% of GDP in 2014Q1 from 111.7% in 2013Q4 and 87.6% in 2013Q1.

  • Romania’s public debt, according to Eurostat, amounted to 39.0% of GDP in 2014Q1 from 38.4% in 2013Q4 and 38.7% in 2013Q1.

  • In Serbia, private sector credit contracted by 3.9% YoY in June from a decrease of 0.7% in June last year, as loans to businesses contracted.

Ilias Lekkos

Chief Economist