Southeastern Europe & Mediterranean Emerging Market Economies: Bi-Weekly Report 4 - 24 April 2023

TÜRKIYE
President R. T. Erdoğan faces the toughest election in his 20-year rule
Whatever the election outcome might be, the next President would need to restore market confidence through the implementation of a consistent policy mix and structural reforms 

CYPRUS
Benefiting from cyclical tailwinds and rising interest rates, the banking sector returned “into the black” in FY:22, driven by lower provisioning and stronger pre-provision income
Banks’ profitability should come under pressure in FY:23, in view of the challenging economic outlook



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