Αναδυόμενες Αγορές Νοτιοανατολικής Ευρώπης & Μεσογείου: Δισεβδομαδιαία Επισκόπηση 5 - 18 Μαρτίου 2024

EGYPT
Egyptian authorities let the EGP depreciate and raise rates to deal with FX shortage and secure new IMF deal
A windfall FX inflow from a USD 35bn investment from the UAE provides the CBE with enough firepower to prevent any overshooting in the short-term
The IMF, together with the EU and the World Bank, are due to provide over USD 22bn in funding over the next 3 years
Already high inflation is set to rise further over the next few months weighing on economic growth 

ROMANIA
Recovering private consumption and solid (EU-funded) investment activity should boost GDP growth to 2.8% in FY:24 from 2.0% in FY:23
Pension reform is set to delay fiscal consolidation this year  
Still, the budget deficit is unlikely to fall below the 3.0% of GDP mark earlier than in 2028


APPENDIX:
DETAILED MACROECONOMIC DATA
REGIONAL SNAPSHOT:  
        MACROECONOMIC INDICATORS
        FINANCIAL MARKETS