TURKEY
CBRT cuts its overnight lending rate by 50 bps to 9.0%
Primary fiscal balance improves in 5M:16, due to large non-recurring proceeds and capital spending cuts
ROMANIA
Headline inflation falls to a low of -3.5% y-o-y in May, due to lower food and energy prices
Current account deficit jumps to 2.4% of GDP on a 12-month rolling basis in April, mainly due to higher income outflows
BULGARIA
Headline inflation at -2.0% y-o-y in May on higher food prices
Current account surplus rises to 2.3% of GDP in April on a 12-month rolling basis on improved trade and income balances
SERBIA
Headline inflation embarks on a mild upward trend, rising to 0.7% y-o-y in May
FYROM
Tourist arrivals rise by 12.5% y-o-y to an all-time high of 111.3k in 4M:16
Headline deflation remains stable at -0.7% y-o-y in May
ALBANIA
Headline inflation picks up to 0.7% y-o-y in May, due to a deterioration in food and core inflation
The cycle of monetary policy easing has likely come to an end
CYPRUS
Fiscal performance improves in the first four months of the year, on the back of early dividend payments by the Central Bank
Tourist arrivals rise sharply in November-May, mainly due to heightening security concerns in neighbouring competitors
EGYPT
Tourist arrivals continue to experience a sharp decline due to security concerns
Customer deposit growth reaches a high of 19.1% y-o-y in March, supported by the gradual return of confidence
Credit to the private sector posts the 2nd historical high growth in March (15.6% y-o-y), on improving loan demand and supply
APPENDIX: FINANCIAL MARKETS