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FLASH WORLD                         SWITZERLAND                        GREECE REALIZED
                                    HAS THE MOST                       A SURPLUS OF 3.57
Bulgaria and                        INNOVATIVE                         BILLION EUROS
Russian announce                    ECONOMY                            DURING THE FURST 7
renewal of the                                                         MONTHS
project South
Stream

Accordingtotheannouncements         With 66.3 points, Switzerland      Greece realized primary budget
arriving from the Bulgarian         won the first place as the most    surplus of 3.57 billion Euros
Prime Minister Bojko Borisov,       innovative economy according       during the first seven months of
the two countries agreed to         to the last Report of the United   this year, 874 billion Euros more
form working groups in order        Nations. Sweden was second         than the stipulated, and 140
to find modalities to restart       with 63.6 points, and the United   billion Euros less than the surplus
the project. One of the main        Kingdom and the United States      realized last year. The greatest
points for which compromise is      won more than 60 points, and       realization in the first half is in
required is the so called “third    positioned as third and fourth     the budget expenditures which
energy package” of the European     place, respectively. The most      were an amount of 28.8 billion
Union, which stipulates that a      impressive progress was realized   Euros, which is 3.2 billion less
company, Gazprom in this case,      by China which for the first time  than the stipulated 32.1 billion
cannot have the role of both        was one of the best 25 countries   Euros. This difference is big
supplier and gas transporter.       according to innovation.           enough to cover the fall of income
In June this year, the Russian      Macedonia, with 35.4 pints, is     in the budget of 621 billion Euros
Prime Minister, Vladimir Putin,     ranked 58th, and higher ranked     and to realize the primary budget
pointed out that Russia is still    countries from the region          surplus in the first half of this
interested in the project “South    include Montenegro which was       year. As the Ministry of Finance
Stream” and that at no moment       ranked 51st, Turkey which was      of Greece informs, this trend
they renounced it, rather they      ranked 42nd, Greece which was      continued in July as well, hence
only stopped the activities due     ranked 40th, Bulgaria which        the total primary budget surplus
to non-compliance with the          was ranked 38th, and Slovenia,     is 3.57 billion Euros. They add
European Union and Bulgaria.        with 46 points, has the highest    that additional expenditure is
In the meantime, after the visit    ranking of the countries from      expected in the part of hospitals
by the Turkish President Recep      the region on the 32nd place.      of 390 billion Euros, as well as
Tayyip Erdogan in Moscow, in the    Serbia, Bosnia and Albania are     an additional expenditure for
public there are still circulating  ranked on the 65th, 87th, and      subsidies for the farmers of 162
information about a possible        92nd place, respectively. In the   billion Euros. These past several
restarting of the alternative of    assessment criteria, some of the   years, Greece, in accordance
“South Stream”, the so called       most important criteria include    with the agreement achieved
“Turkish Stream”. The pipeline      the quality of the universities    with the creditors, realizes a
“South Stream” was supposed         in the appropriate country,        primary budget surplus, and in
to provide transport of the         the number and the quality of      return gets vast funds in order to
Russian gas under the Black Sea,    scientific publications, as well   overcome the financial crisis.
and to provide gas for Central      as the number of international
and Eastern Europe through          registered patents.
Bulgaria and Serbia.

72 September 2016
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