Southeastern Europe & Mediterranean Emerging Market Economies: Bi-Weekly Report 21 June - 4 July 2022

Countries in Focus in this Issue: Serbia, North Macedonia & Albania

SERBIA
Against the backdrop of robust economic recovery, bank profitability strengthened in FY:21 (with ROAE picking up to 7.5%), driven by lower impairment charges

The banking sector’s profitability is expected to weaken this year, amid a challenging operating environment


NORTH MACEDONIA

The economy enters the new crisis on a weak footing (GDP, up 2.4% y-o-y in Q1:22, unchanged compared with Q4:21)

The spillovers from the Russia-Ukraine conflict (especially in terms of higher inflation) are set to weigh on economic growth during the remainder of the year

ALBANIA
Despite the strong start to the year (GDP, up 6.0% y-o-y in Q1:22), economic growth is set to moderate significantly in the period ahead, reflecting the implications of the Russia-Ukraine crisis as well as the elimination of a series of favourable base effects, including a (weather-induced) spike in energy production

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

Southeastern Europe & Mediterranean Emerging Market Economies: Bi-Weekly Report 21 June - 4 July 2022
Close
Close
back-to-top