Southeastern Europe & Mediterranean Emerging Market Economies: Bi-Weekly Report 19 March - 1 April 2024

TÜRKIYE
Opposition scores surprising victory in local elections
In its effort to curb inflation, the CBRT unexpectedly raised its key rate by an additional 500 bps, to 50%, in March, bringing total rate hikes since June to 4,150 bps 
Türkiye braces for a soft landing, as tightening financing conditions take hold and public purse strings tighten

CYPRUS
Despite external headwinds, the economy should remain on a strong footing in 2024, underpinned by domestic demand, markedly outperforming the euro area average
Investment is set to accelerate, following acceleration in deployment of Recovery & Resilience Plan
Sluggish economic growth in the EU, the plunge in tourist arrivals from Israel and the escalating EU sanctions against Russia cannot but weigh on exports of services


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