Ahmed Abbassi’s Post

Three of seven Hungarian regions among 20 poorest in EU #bne #bneEditorsPicks #Hungary Three Hungarian regions were among the 20 poorest in the EU, while Budapest's economic development stands out and is among the top, according to 2022 data from Eurostat cited by independent news website hvg.hu. Excluding the two underdeveloped French overseas territories, Mayotte and French Guiana, four Hungarian regions would be included in the group. In 2022, real GDP increased in 231 out of 242 EU regions thanks to the rebound from the pandemic, while decreases were registered in 11 regions.

The richest country in Europe with more money than the UK and Spain combined The country is a magnet for investors, thanks to its central location in Europe and a strong reputation for research and innovation. There are many countries in Europe that have considerable wealth, but one stands out from the crowd. The UK is considered as one of the richest European countries but it is still way behind the nation leading the rankings. Germany is officially Europe’s richest country, with a staggering GDP of $4.46 trillion in 2023. That’s more than the combined economies of the UK and Spain, which sit at $3.34 trillion and just over $1 trillion respectively. Globally, Germany ranks as the third-largest economy, only behind the US and China. GDP or Gross Domestic Product is a measure of a country's economic health and size over a period of time, usually a quarter or year. It's calculated by adding up the monetary value of all final goods and services produced within a country's borders. Germany’s economy is powered by a mix of manufacturing, innovation, and services. The country has world-famous exports, with cars, chemicals, and industrial machinery leading the way. But Germany’s economy isn’t just about big industries; it’s also home to the "Mittelstand" - a network of small and medium-sized businesses, many of which are family-owned. These companies dominate their fields, earning the nickname "hidden champions" and accounting for nearly half of global market leaders in their sectors. But it’s not all about business. Germany has embraced renewable energy in a big way. Its ambitious "Energiewende," or energy transition, has made the country a leader in wind and solar power, with renewables now providing nearly half of its electricity. By @ Kris Boratyn

Morocco's economic situation in 2024 is marked by both resilience and challenges. The country's GDP growth rate is projected to reach about 3.1% this year, up from 2.8% in 2023. This growth is driven largely by a recovery in domestic demand and steady external demand for Moroccan exports, particularly in the manufacturing sector. Key initiatives, like the development of the Tangier Med port and various industrial projects, have positioned Morocco as a strategic nearshoring location, which has attracted foreign direct investment. These investments are part of a broader trend that has bolstered Morocco's integration into global value chains and underscored its economic resilience despite global uncertainties. However, Morocco still faces significant domestic challenges. Inflation, particularly for food, has been disproportionately affecting lower-income households, leading to increased vulnerability. Additionally, Morocco’s budget deficit remains a concern, although efforts are underway to stabilize it through fiscal reforms, including adjustments in tax policy and subsidy reductions. Following the recent Al Haouz earthquake, the government has also committed to a major development plan aimed at rebuilding and stimulating growth in affected rural areas, which may further strain public finances in the short term but could enhance inclusivity over time. The economic landscape is further complicated by long-term structural issues. Unemployment remains a challenge, especially among youth and women. To address this, Morocco’s New Development Model aims to boost growth through improved private sector investment and labor market reforms. Expanding female labor force participation, for instance, could significantly enhance Morocco's economic potential. While Morocco's near-term outlook is positive, achieving sustained, inclusive growth will require continued reforms, including reducing regulatory barriers and improving labor market inclusion

Economic performance of Europe has improved in August. Particularly, services has performed well. #europe #economy #france #spain #germany https://lnkd.in/dUaB2SCB

It’s fascinating to see how Greece and Italy, once symbols of economic struggle, outperformed major European economies such as Britain and Germany in 2024. Their resurgence, fueled by tourism and immigration, contrasts sharply with the challenges faced by Britain and Germany, such as high energy costs, weaker manufacturing, and political instability. This shift surprised me, showing how adaptive strategies and external factors can reshape an economy’s trajectory. What can other economies learn from Greece and Italy’s recovery journeys? https://lnkd.in/gbT7juKZ

📢The OECD - OCDE's 2024 Economic Survey of Latvia shows the economy recovering from recent shocks, with growth projected to reach 1.8% in 2024.   Structural reforms will help unlock 🇱🇻's full growth potential and boost living standards.    🔗oe.cd/LVA

📣The OECD Economic Survey of 🇨🇭 Switzerland is out!    📈🌍 Switzerland has shown remarkable strength during the pandemic and the recent turmoil in energy markets following Russia’s war of aggression against Ukraine.     Growth will remain moderate at 0.9% in 2024, but is expected to pick up again and rise to 1.4% in 2025.     Unemployment and inflation are low, and living standards are among the highest in the OECD. This is reinforced by a dynamic economy, highly skilled workforce and prudent macroeconomic policies. Boosting productivity and increasing labour market participation would sustain Switzerland’s high living standards.    📈More takeaways from the report:  OECD Economic Survey of Switzerland 2024.    Read here: oe.cd/Switzerland    #Switzerland #OECD #Economy

Greece’s Economy Shows Strong Recovery and Growth in 2024. In the first three quarters of 2024, Greece’s economy has shown promising signs of recovery and growth. The country’s GDP posted positive growth, driven by an increase in tourism, stable foreign investment, and a rise in domestic consumption. Unemployment rates have continued their downward trend, with Greece marking a significant decline over the past five years. Foreign investment flows have remained stable, with keen interest across sectors including real estate, tourism, and renewable energy. The economic outlook for Greece remains optimistic, reflecting the country’s steady progress in implementing economic reforms and attracting international capital. Interested in learning more? Click here to read the full review (Full report available in Hebrew): https://lnkd.in/dJTe9jFf

The European Commission has improved Portugal's economic growth forecasts to 1.7% this year and 1.9% next, rates above the euro zone and EU average, driven by consumption private sector, and investment. #theportugalnews #economy #eurozone

Tourism is one significant growth factor…They must have put away their squirt guns. “Spain is set to surpass the US to become the world’s fastest-growing major advanced economy this year, expanding at more than three times the pace of the Eurozone as a whole. Economists polled by forecasters Consensus Economics expect GDP data this week to show Spain is on course to grow 2.7 per cent this year, fuelled by a combination of immigration, tourism, foreign investment and public spending.” #globaleconomy #globaltrade #eurozone #regionsrecruiting