NORTH MACEDONIA
Bank profitability continued to improve in H1:22 on stronger operating income and reduced cost of risk
Against a challenging economic backdrop, bank profitability should come under pressure in the near-term, yet remain healthy
CYPRUS
Residential real estate prices continued to increase at a robust pace of 3.9% y-o-y in H1:22, mainly reflecting the pass-through of higher construction costs to buyers as demand remains resilient. The residential market should eventually cool-down in the medium-term, in line with weakening (real) disposable incomes and tightening (global) financing conditions
EGYPT
Egypt reaches USD 3bn IMF agreement after free floating its currency, containing the risk of a full-blown balance of payments crisis
APPENDIX:
DETAILED MACROECONOMIC DATA
REGIONAL SNAPSHOT: MACROECONOMIC INDICATORS & FINANCIAL MARKETS