Bi-Weekly Report 23 March - 5 April 2021
BULGARIA
Elections deliver another hung Parliament, failing to end political uncertainty
Economic recovery lost steam in Q4:20, amid a second COVID-19 wave
GDP is set to rebound in FY:21, helped by a procyclical fiscal stance and supportive base effects
NORTH MACEDONIA
Economic recovery maintained momentum in Q4:20 (GDP, down just 0.7% y-o-y against a drop of 3.3% in Q3:20), despite headwinds from a severe second COVID-19 wave
Economic activity is set to recoup the bulk of its COVID-19- induced losses by end-2021, but risks are tilted to the downside
Appendix: Macroeconomic & Financial Indicators