Southeastern Europe & Mediterranean Emerging Market Economies: Bi-Weekly Report 12 - 25 November 2024

Countries in Focus in this Issue: Cyprus, North Macedonia & Egypt

CYPRUS
Despite past headwinds from the loss of the Russian market 
(the 2nd most important source country) and lower Israeli arrivals in the wake of the conflict in Gaza, Cyprus’ tourist inflows fully recovered to pre-pandemic levels
Easing economic headwinds should help sustain solid growth in the tourism sector in the period ahead

NORTH MACEDONIA
Higher-for-longer interest rates boosted banks’ profitability to new record highs in 9M:24
NBRNM’s easing cycle should drive profitability to more moderate  -- yet above historical average -- levels in the period ahead

EGYPT
Strengthening macroeconomic fundamentals since FX liberalisation drive the upgrade of Egypt’s sovereign debt credit rating -- the first since 2019 


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

 

Southeastern Europe & Mediterranean Emerging Market Economies: Bi-Weekly Report 12 - 25 November 2024
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