SETimes.comIstanbul hopes to build a third airport
25/04/2012
A tender for a third airport in Istanbul will open this year. Also in business news: BiH's government adopted a budget for 2012 and Romania plans to reorganise its tax system.
Turkey Transport Minister Binali Yildirim announced on Saturday (April 21st) that the government will hold a tender this year to build a third airport in Istanbul in an effort to ease traffic at the existing two facilities. Ataturk International Airport in the city served 20.3 million passengers on international airlines and 11.8 million passengers on domestic flights in 2010.
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The World Bank is ready to loan Macedonia $100m (75.7m euro) to advance economic reforms and improve healthcare, education and social welfare in the country, the finance ministry in Skopje announced on Sunday (April 22nd). The statement came after meetings between Finance Minister Zoran Stavreski and World Bank/IMF officials in Washington.
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Bosnia and Herzegovina's central government adopted the much-delayed state budget for 2012 on April 18th. The fiscal framework envisions cuts in wages and spending as the country seeks to secure talks on a new loan with IMF officials next month.
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The Serbian Chamber of Commerce officially opened an office in Zagreb on April 18th, aimed at boosting the country's business presence in Croatia and improving bilateral economic ties. The Croatian Chamber of Commerce has had its office in Belgrade for ten years. There are currently about 200 Croat companies operating in Serbia, while the presence of Serbian businesses and investments in Croatia has been minimal.
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Bulgaria is among the EU member states with lowest government debt levels, Eurostat data showed on Monday (April 23rd). Last year, Bulgaria's state debt amounted to 16.3% of GDP, which is the second lowest level in the bloc after Estonia (6%). Romania is behind with 33.3% of GDP. Bulgaria's budget deficit fell to 2.1% of GDP in 2011 compared to the EU average of 4.5%. Greece was among the countries with the highest budget deficit at 9.1%, second only to Ireland.
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The European Investment Bank (EIB) has started including clauses in its contracts with Greek companies, allowing them to repay euro loans in other currencies, media reported on Monday (April 23rd). The EIB denied speculation by some analysts, who saw the move as a precaution amid concerns regarding Athens' possible exit from the eurozone.
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Romania Finance Minister Bogdan Dragoi vowed last week that the country will reorganise its tax system to boost online filing, information sharing between state agencies and to reduce red tape. A recent survey by the World Bank revealed Romania has the second-most complex tax system in the world, with local businesses expected to make up to 113 separate tax payments a year.
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Macedonia President Gjorge Ivanov and Albania President Bamir Topi inaugurated the second regional Domestic Products and Foreign Investments forum in Skopje on Friday (April 20th). The event, organised by the Economic Chamber of Northwest Macedonia, was held under the slogan "Buy Domestic Products."
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Companies in Serbia are paying 730m euros annually in hidden taxes such as land fees, water and pollution charges, a survey conducted by the USAID and Serbia's Alliance of Local Economic Development revealed on Thursday (April 19th). The sum represents 2% of economic output that businesses could have put in investments, experts pointed out.
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Foreign direct investments (FDI) in Montenegro registered a sharp drop in the first two months of this year, Central Bank data revealed on Friday (April 20th). Over the period, FDI amounted to 33.3m euros, or 57.4% lower than the same period last year.
(Various sources -- 18/04/12-25/04/12)