Romania’s GDP growth rate below EU average in Q2

Romania’s economic growth was below the EU average in the second quarter (Q2) of this year, data released by Eurostat showed on Tuesday (Sept. 7). The Southeastern country’s gross domestic product (GDP) increased by 1.8% in April-June period compared with the previous quarter, the statistical office of the European Union said. Ireland (+6.3%) recorded the sharpest increase of GDP compared to the

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Mytilineos sells two PV projects in Romania to Italy’s Enel

Athens-based industrial conglomerate Mytilineos S.A. through its Renewables and Storage Development (RSD) Business Unit has signed an agreement with Enel Green Power Romania SRL, part of Italy’s Enel Group, for the sale of approximately 90MW solar portfolio in Romania, consisting of two solar farms, planned to achieve commercial operations by the end of 2022 / beginning 2023. The projects are developed in

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Romania’s forex reserves go up by 6.68% in August

The National Bank of Romania’s (BNR) foreign exchange reserves stood at EUR 41.616 million at the end of August, compared to EUR 39.008 million at the end of July, the central bank said on Wednesday (Sept.1). During the month, EUR 3.343 million worth of inflows were registered representing: changes in credit institutions’ foreign currency-denominated required reserves with the NBR; inflows into the

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Serbia’s economy posts 13.7% growth in Q2

Serbia’s gross domestic product  (GDP) rose 13.7% year-on-year in the second quarter of 2021, following an upwardly revised 1.8% growth in the previous three-month period, according to data released by the National Statistical Office on Tuesday (Aug. 31). That was the fastest pace of expansion since the last quarter of 2001, boosted by a rebound in activity and demand following the reopening

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Banks in Cyprus to tighten lending rules for households

Cypriot banks expect stricter lending criteria for households but not for Covid-affected businesses while preparing for an increase in demand in all categories of loans for the second quarter of 2021, the Central Bank of Cyprus (CBC) said in its Bank Lending Survey (BLS) for the first quarter of 2021 published on Tuesday (August 24). The CBC said that the strengthening of

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Bulgaria exits recession with 9.6% GDP growth in Q2 2021

Bulgaria’s economic output rebounded by 9.6% from a year earlier in the second quarter of 2021, the most since the first quarter of 1998, after a 1.8% contraction in the previous period,, flash data from National Statistical Institute (NSI) showed. It was the first growth in four quarters due to the low base effect from the Covid-19 shock last year and as

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