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Greece's GDP contracted by 6.2% on an annual basis in the second quarter of 2012, following a 6.5% decline registered in the first three months of 2012, according to the country's statistical office, Elstat.
Greece is in its fifth year of recession and the financial institutions have been warning repeatedly that the situation may deteriorate more than expected in 2012, according to local news agencies, as cited by the Bulgarian Telegraph Agency (BTA).
The country is struggling to meet deficit-reduction targets set by the European Union and the International Monetary Fund in exchange for a second bailout package amounting to EUR 173 B.
The Greek central bank already predicted a GDP reduction of 4.5% after a 6.9% contraction registered in 2011.
In its latest outlook on Greece, the European Commission also postponed the country's return to growth for 2014.
Greece's new coalition government led by Prime Minister Antonis Samaras declared the return to economic growth a key priority.
Meanwhile, the unemployment rate in the country reached 23.1% in May.
Bulgaria’s economy expanded by 3.0% in the fourth quarter of 2025 compared to the same period in 2024, according to preliminary figures from the National Statistical Institute. On a quarterly basis, seasonally adjusted data indicate a growth of 0.8% relat
Greece has announced that it will assist Bulgaria with air defense capabilities in response to the escalating tensions related to Iran. The decision was confirmed by Greek Defense Minister Nikos Dendias, who said the move follows a formal request from Sof
Bulgarian authorities do not register heightened migratory pressure at this stage. Following a government meeting, Deputy Interior Minister Ivan Anchev stated that there are currently no indicators suggesting an increase in migration flows toward the coun
The municipal authorities in Kavala, northern Greece, are set to exhume roughly 150 graves of individuals who died from COVID-19 after it was discovered that the bodies had not decomposed even five years after burial.
Bulgaria has announced its intention to acquire more than 100 Centauros anti-drone systems from Greece in multiple configurations, under the framework of the European SAFE regulation
In the final quarter of 2025, Bulgaria’s economy showed signs of slowing, with gross domestic product (GDP) rising by 2.9 percent year-on-year, down from 3.1 percent in the same period of 2024.
Germany has warned that the war involving Iran could trigger a new migration wave toward Europe, as the conflict continues to create instability across the region
The European Union and Hungarian opposition figures have sharply criticized Ukrainian President Volodymyr Zelensky over recent comments directed at Hungarian Prime Minister Viktor Orban, describing them as a threat
The Ministry of Justice has officially received a report from Teodora Georgieva, Bulgaria's European Prosecutor, detailing pressure, threats, and attempts to undermine the authority of the European Public Prosecutor’s Office
NATO has stepped up the readiness of its missile defense systems following an Iranian ballistic missile attack targeting Turkey, a spokesperson for the Alliance’s military headquarters in Mons, Belgium, Martin L. O'Donnell, confirmed to DPA.
The ongoing conflict in the Middle East is expected to have immediate implications for the security of the European Union, according to the European policing agency Europol
The war involving the United States, Israel and Iran has entered its seventh day, with fighting and political tensions continuing to expand across the Middle East and beyond.
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