Bi-Weekly Report 29 August - 11 September 2017
Turkey
Strong GDP growth momentum maintained in Q2:17 (5.1% y-o-y), supported by buoyant external demand and continued fiscal and quasi-fiscal stimulus
Headline inflation returned to double digits in August and is expected to remain there until November
Romania
Political turmoil over fresh Government bid to reform the judiciary
Economic activity continued to overperform in Q2:17
Bulgaria
Economic growth gained momentum in Q2:17
Labour market conditions tighten further in Q2:17
Serbia
The IMF Executive Board completed the 7th review of the ongoing 3-year EUR 1.2bn precautionary SBA
The external adjustment reversed course in Η1:17, due to an unfavourable energy bill
FYROM
Banking sector profitability rose by a solid 6.6% y-o-y in Q2:17
Albania
The banking sector's bottom line strengthened markedly on an annual basis in H1:17, with ROAE returning to double digits
Cyprus
The fiscal performance improved markedly in 7M:17 (by 1.7 pps y-o-y), due to an across-the-board improvement in tax revenue
Real estate prices posted positive growth in Q1:17 (0.2% y-o-y) for the first time in nine years, mainly supported by foreign buyers
Egypt
GDP growth slowed to 3.8% y-o-y in 9M:16/17 (July 2016-March 2017) from 4.2% a year earlier, mainly on the back of a tight fiscal stance
The tourism sector emerged from a deep crisis, mainly supported by a cheaper domestic currency and improved security conditions
Appendix: Financial Markets