Southeastern Europe & Mediterranean Emerging Market Economies: Bi-Weekly Report 6 - 19 September 2022

Countries in Focus in this Issue: Romania, Serbia & Cyprus

ROMANIA
Romanian economy continued to overperform expectations in Q2:22 (GDP, up 5.3% y-o-y), thanks to still strong private consumption
Under the burden of record-high inflation, GDP growth is set to slow down abruptly in the remainder of the year


SERBIA
Despite the implications of the Russia-Ukraine crisis and domestic energy production disruptions, GDP growth remained resilient in Q2:22 (up 3.9% y-o-y, broadly unchanged from Q1:22), bolstered by strong industrial output
GDP growth is set to ease in H2:22, reflecting the impact of surging inflation and weaker external demand
A new agreement with the IMF could alleviate external pressures from bulging energy bill


CYPRUS
Real GDP growth remained strong in Q2:22 (up 5.8% y-o-y, broadly flat against Q1:22), underpinned by a surge in tourism-related exports
The strong H1:22 performance is set to wear-off in H2:22, reflecting headwinds from record-high inflation

 

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

Southeastern Europe & Mediterranean Emerging Market Economies: Bi-Weekly Report 6 - 19 September 2022
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