Bi-Weekly Report 23 January - 6 February 2017

Turkey

Banking sector bottom line posts a 7-year high in FY:16, despite strong headwinds

        

Romania

Government repeals controversial corruption bill, following mass protests and international rebuke, but uncertainty is set to persist

The consolidated budget deficit widens markedly by 0.9 pps to 2.4% of GDP in FY:16, but overperforms compared with its target of 2.8%

        

Bulgaria

President appoints interim Government and sets elections for March

The FY:16 budget records a surplus of 1.6% of GDP, mainly due to lower capital spending

        

Serbia

Profitability of the banking system improves significantly in 9M:16, on lower provisioning for problematic loans

           

FYROM

Domestic political impasse enters its third year

Customer deposit growth slows to a 4-year low in 2016, driven by protracted political uncertainty

Credit to the private sector loses momentum in 2016, amid an adverse political environment

        

Albania

An IMF mission reaches a staff-level agreement with the authorities, permitting the completion of the combined last two reviews of the 3-year Extended-Fund Facility (EFF)

Economic growth accelerates to 3.3% y-o-y in 9M:16 from 2.6% in FY:15, despite strong external headwinds

 

Cyprus

Banking sector bottom line reaches a 6-year high in 9M:16

Customer deposit growth gains momentum in 2016

        

Egypt

The fiscal deficit narrows significantly in the first five months of the fiscal year, mainly due to deferred payments and an under-execution of capital spending

Significant fiscal consolidation required this fiscal year, in the context of the IMF-supported 3-year adjustment programme

 

Appendix: Financial Markets

Bi-Weekly Report 23 January - 6 February 2017
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