Southeastern Europe & Mediterranean Emerging Market Economies: Bi-Weekly Report 20 September - 3 October 2022

Countries in Focus in this Issue: Türkiye, Bulgaria & Egypt

TÜRKIYE

The TRY hits a new low, as the CBRT continues with its unorthodox policy
An adjustment in monetary policy is crucial to preserving macroeconomic and financial stability CBRT’s bond regulations distort the debt market


BULGARIA
Elections deliver another hung Parliament, failing to end political uncertainty 
Following a strong start to the year, (GDP, up 4.5% y-o-y in H1:22), economic growth is set to slow down markedly in the period ahead, reflecting headwinds from record-high inflation 


EGYPT
Despite the need to plug a sizeable external financing gap, the CBE kept its key policy rates on hold, bucking market expectations
Following a strong performance in FY:21/22, we see GDP growth moderating abruptly this year, reflecting headwinds from weakening EGP and rising inflation

 

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


Southeastern Europe & Mediterranean Emerging Market Economies: Bi-Weekly Report 20 September - 3 October 2022
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