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 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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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’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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The Romanian leu fell deeper to a new historic low on Friday (Aug. 20) against the European currency, as the average reference rate calculated by the National Bank of Romania (BNR) stood at 4.9338 lei/euro, up by 0.60 bani (0.12%) against the previous rate, of 4.9278 lei. One leu is subdivided into 100 bani. The Romanian leu had dropped to an all-time low
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Montenegro’s citizenship-by-investment program is due to close at the end of this year. The Balkan country’s passport ranks 45th on the Henley Passport Index, providing its holders with visa-free or visa-on-arrival access to 124 destinations worldwide, including Hong Kong, Russia, Singapore, Turkey, the UAE, and the countries in Europe’s Schengen Area. Applicants to the Montenegro Citizenship-by-Investment Program are required to make a defined economic
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The budget deficit in Albania stood at 29.9 billion leks (243 million euro) in the first seven months of the year, according to data published by the finance ministry. During the same period a year ago, it stood at 49.3 billion leks. Consolidated budget revenue reached 281.4 billion leks in the January-July period, up 20% year-on-year, while expenditures increased by 10% to
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