29/10/2010
The Foreign Investors Council met in Belgrade. Also in business news: Albania's exports are up, year on year, and a new shale oil reserve has been discovered in Turkey.
The Foreign Investors Council met in Belgrade. Also in business news: Albania's exports are up, year on year, and a new shale oil reserve has been discovered in Turkey.
The Foreign Investors Council (FIC) -- a business association of the leading foreign investors in Serbia -- urged the government to undertake reforms to improve the business climate. At a presentation of the so-called 2010 White Book on Wednesday (October 27th), foreign investors also called for prudent macro-economic policies, which would ensure the sustainable inflow of foreign direct investments. On the positive side, the report noted the signs of economic recovery, but still pointed to the lack of reforms in the judicial system as a hindrance to doing business in Serbia.
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The World Bank will invest $200m in Macedonia in 2011-2014, Finance Minister Zoran Stavrevski said on Wednesday (October 27th). The funds will be allocated for projects in the energy, health care, education, agriculture and infrastructure fields that should help boost efforts to join the EU.
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Albanian exports increased by 43.6% in September compared to a year earlier, the Statistics Institute reported on Wednesday (October 27th). Trade with EU countries dominates the exports. Italy and Greece accounted for 68.7% of all exports.
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Officials from the Kosovo Economy and Finance Ministry met with a European Commission delegation responsible for the economies of potential candidate countries on Wednesday (October 27th). The ministry briefed the delegation about the latest macro-economic and fiscal developments in Kosovo, as well as on efforts to align the country's 2011 budget with recommendations by the IMF.
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A new shale oil reserve has been discovered in the central Anatolian region with a total volume of 8 billion tonnes, Turkey's Mineral Research and Exploration Agency announced on Monday (October 25th). The finding significantly increases the country's proven shale reserves, previously estimated at 1.64 billion tonnes. The new basins were estimated to contain 2.6 billion to 8.3 billion barrels of oil, worth between $218 billion and $687 billion.
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The World Bank will invest $200m in Macedonia in 2011-2014, Finance Minister Zoran Stavrevski said on Wednesday (October 27th). The funds will be allocated for projects in the energy, health care, education, agriculture and infrastructure fields that should help boost efforts to join the EU.
***
Albanian exports increased by 43.6% in September compared to a year earlier, the Statistics Institute reported on Wednesday (October 27th). Trade with EU countries dominates the exports. Italy and Greece accounted for 68.7% of all exports.
***
Officials from the Kosovo Economy and Finance Ministry met with a European Commission delegation responsible for the economies of potential candidate countries on Wednesday (October 27th). The ministry briefed the delegation about the latest macro-economic and fiscal developments in Kosovo, as well as on efforts to align the country's 2011 budget with recommendations by the IMF.
***
A new shale oil reserve has been discovered in the central Anatolian region with a total volume of 8 billion tonnes, Turkey's Mineral Research and Exploration Agency announced on Monday (October 25th). The finding significantly increases the country's proven shale reserves, previously estimated at 1.64 billion tonnes. The new basins were estimated to contain 2.6 billion to 8.3 billion barrels of oil, worth between $218 billion and $687 billion.
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Cypriot Finance Minister Charilaos Stavrakis forecasts that the country's economy will grow by 1.5% in 2011. The forecast was made during a ministerial round table at an Economic Forum in Nicosia on Wednesday (October 27th). As for this year, Stavrakis said he expects "positive growth rates, anything between 0.5 and 1%".
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Serbian government officials and IMF representatives started discussions Monday (October 25th) on the sixth review of Serbia's 2.9 billion-euro stand-by agreement. The nine-day talks will focus on the budget rebalance for 2010, as well as the fiscal framework for 2011. IMF Mission Chief Albert Jaeger and the Fund's Permanent Representative, Bogdan Lissovolik, announced that they will urge the government to speed up pension reform.
(Various sources -- 22/10/10-29/10/10)
This content was commissioned for SETimes.com.
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Serbian government officials and IMF representatives started discussions Monday (October 25th) on the sixth review of Serbia's 2.9 billion-euro stand-by agreement. The nine-day talks will focus on the budget rebalance for 2010, as well as the fiscal framework for 2011. IMF Mission Chief Albert Jaeger and the Fund's Permanent Representative, Bogdan Lissovolik, announced that they will urge the government to speed up pension reform.
(Various sources -- 22/10/10-29/10/10)
This content was commissioned for SETimes.com.
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