Southeastern Europe & Mediterranean Emerging Market Economies: Bi-Weekly Report 18 - 31 October 2022

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

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


Southeastern Europe & Mediterranean Emerging Market Economies: Bi-Weekly Report 18 - 31 October 2022
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