Είσοδος Είσοδος για Ιδιώτες Είσοδος για Επιχειρήσεις

Δισεβδομαδιαία Επισκόπηση 15-28 Ιανουαρίου 2019

31/1/2019 - Μελέτες & Αναλύσεις

Αναδυόμενες Αγορές Νοτιοανατολικής Ευρώπης & Μεσογείου; --Εβδομαδιαία Επισκόπηση (στα αγγλικά)

Turkey

The 2018 Budget achieved its target -- a deficit of 1.9% of GDP – mainly on the back of one-off non-tax revenue

The current account deficit is estimated to have narrowed by 2.0 pps to a 9-year low of 3.6% of GDP in FY:18

The capital and financial account is estimated to have not contributed, for the first time since the 2001 liquidity crisis, to the financing of the current account deficit in FY:18

        

Romania

Favourable food and energy prices contained end-year headline inflation -- up 3.3% y-o-y, unchanged compared with end-2017, and within the NBR's target range (2.5±1%)

The NBR will likely maintain its key rate on hold, but tighten market liquidity to ease pressure on the RON

        

Bulgaria

Headline inflation stood at 2.7% y-o-y at end-2018, broadly unchanged compared with end-2017, as favourable energy prices offset the impact of stronger domestic demand and higher volatile food prices

Tourism activity weakened in FY:18, mainly due to a negative base effect

        

Serbia

End-year headline inflation moderated to 2.0% y-o-y in 2018 from 3.0% in 2017, due to lower core inflation and favourable prices of fruits and vegetables

The NBS is set to keep its central rate (the 2-week repo rate) on hold at an all-time low of 3.0% this year

        

FYROM

Credit growth reached a 3-year high of 7.2% y-o-y at end-2018, mainly on the back of higher lending to corporates

Customer deposit growth almost doubled in FY:18 (up 9.5% y-o-y), due to improving confidence in the domestic economy

Residential real estate prices recovered in FY:18 (up 1.8%), due to improving economic activity and accelerating mortgage lending

        

Albania

Headline inflation ended 2018 at 1.8% y-o-y -- well below its target for an 8th successive year

The BoA is set to maintain its key rate on hold this year

 

Cyprus                                                                                     

Banking sector returns to the black in 9M:18, due to lower provisioning and an exceptional accounting gain related to Hellenic Bank's acquisition of Cyprus Cooperative Bank's operations

 

Egypt

The sizeable fiscal consolidation planned for this fiscal year -- 1.8 pps of GDP – is on track

FX reserves increased by USD 5.5bn to an all-time high of USD 42.6bn (7.2 months of imports of GNFS) in 2018, underpinned by solid implementation of the loan agreement with the IMF (signed in November 2016)

 

Appendix: Financial Markets