Bi-Weekly Report 25 August – 7 September 2020
TURKEY
GDP drops abruptly by 9.9% y-o-y in Q2:20, as COVID-19 impact hits hard
The need for monetary policy tightening clouds the outlook for recovery
NORTH MACEDONIA
A new SDSM-led Government, headed by Z. Zaev, takes office
GDP falls by a record 12.7% y-o-y in Q2:20, due to COVID-19
A second COVID-19 wave poses challenges to economic recovery
CYPRUS
Despite the significant fiscal stimulus, GDP plunges by 11.9% y-o-y in Q2:20, as COVID-19 takes its toll
Cyprus faces a long and bumpy recovery ahead
APPENDIX: FINANCIAL MARKETS