Bi-Weekly Report 3 – 16 March 2020

ROMANIA

GDP growth rebounded in Q4:19 (up 4.3% y-o-y), bolstered by fiscal stimulus

COVID-19 pandemic hits Romania at a time of limited fiscal flexibility

 

BULGARIA

Economy maintains a steady, though modest, growth rate in Q4:19 (up 2.9% y-o-y)

Economic growth is set to moderate sharply in the aftermath of the COVID-19 outbreak, but become more balanced

 

SERBIA

The NBS unexpectedly proceeded with a 50 bp cut to its key policy rate, amid COVID-19 concerns

Following significant tightening over the past years, the fiscal stance remained expansionary for a 2nd consecutive year in FY:19

Increased spending to counter the impact of COVID-19 is set to push the FY:20 Budget above its deficit target of 0.5% of GDP

 

APPENDIX: FINANCIAL MARKETS

Bi-Weekly Report 3 – 16 March 2020
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