Southeastern Europe & Mediterranean Emerging Market Economies: Bi-Weekly Report 24 May - 6 June 2022

Countries in Focus in this Issue: Turkey, Serbia & Albania

TURKEY
Despite the sharp depreciation of the TRY and concomitant skyrocketing inflation, economic growth remained resilient in Q1:22 (GDP, up 7.3% y-o-y)

With the implications of the Russia-Ukraine conflict looming over the already beleaguered economy, the outlook for the remainder of the year appears bleak -- despite accommodative policies -- as the evolving global crisis exposes Turkey’s key macroeconomic vulnerabilities

SERBIA
The implications of the Russia-Ukraine crisis dampened GDP growth in Q1:22

GDP growth is set to ease further during the remainder of the year, reflecting surging inflation and weaker external demand


ALBANIA

The banking sector’s ROAE strengthened to 12.9% in FY:21, remaining in double digits for a 5th consecutive year, due to lower provisioning

The challenging economic environment is set to test the banking sector’s profitability in FY:22

 

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

Southeastern Europe & Mediterranean Emerging Market Economies: Bi-Weekly Report 24 May - 6 June 2022
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