Original Source: www.tresor.economie.gouv.fr
Southeastern Europe, encompassing countries such as Bulgaria, Cyprus, Greece, Moldova, and Romania, finds itself at a transformative juncture economically. With each nation showcasing distinctive measures and initiatives tailored towards bolstering economic resilience and growth, the region is teeming with both challenges and opportunities. The highlight of the latest economic brief is Moldova’s referendum pushing for EU membership, reflecting a deeper regional aspiration for integration into the European landscape. Each country illustrates a tapestry of fiscal adjustments, strategic developments, and collaborative innovations aimed at enhancing both public welfare and industry.
On October 24, 2024, economic highlights from Southeastern Europe unveil a region bristling with potential and ambition. In Moldova, a noteworthy 50.38% voted ‘yes’ in a referendum to amend the constitution for EU membership, signalling a pivotal step towards integration. Bulgaria retains its positive economic outlook with Fitch maintaining its ‘BBB’ rating; it strives to enhance its digital landscape with a new regional centre.
Cyprus finds itself in a more optimistic light with the IMF increasing its economic growth forecast from 2.7% to 3.3% for 2024, alongside a significant fiscal surplus of €631.8 million in 2023. The island’s decision to grant a collective 1.5% salary increase to public sector employees speaks volumes of its commitment to economic stability. Meanwhile, the rapid delivery of the FSRU ‘Prometheus’ marks a strategic move forward in energy supply.
Greece seems to be meticulously fine-tuning its economic strategies with an ongoing assessment of hydrogen market capabilities, potentially paving the way for future innovations. In Moldova, alongside industrial production woes and fluctuating price indices, Maia Sandu’s lead in the presidential election echoes a hopeful democratic pulse amid change.
Romania stands out with significant fiscal manoeuvres, having raised over 1.5 billion RON and 387 million EUR, alongside a commendable minimum wage increase of 9.5% set for January 2025. The insurance sector is bustling with a surge in gross premiums, while a new factory launch from the Atlantic group represents a thriving manufacturing scene. Innovations like the CRIMSON project, birthed from a cooperative venture between AROBS Polska and local engineering firms, hint at a bright horizon for Romanian technology and craftsmanship.
