TÜRKIYE
Τhe economy stalled in H2:22, amid strong headwinds from record-high inflation
An expansionary policy mix ahead of this year’s election should sustain economic growth in the short-term, yet at the cost of exacerbating economic imbalances
NORTH MACEDONIA
Against a challenging backdrop, North Macedonia saw GDP growth slowing down markedly in FY:22 (to an estimated 2.4%, well below the regional average of 4.2%)
With inflation due to remain elevated in the short-term, GDP growth is set to remain subdued over the next quarters, in line with weakening private consumption and net exports
CYPRUS
Political continuity is expected after the February 5th Presidential elections, given main candidates’ consensus on policies and important reforms
The strong 9M:22 growth performance is set to wear-off in the period ahead, reflecting headwinds from weakening EU activity, rising interest rates and persistent inflationary pressures
APPENDIX:
DETAILED MACROECONOMIC DATA
REGIONAL SNAPSHOT: MACROECONOMIC INDICATORS & FINANCIAL MARKETS