Bi-Weekly Report 6 - 19 April 2021
ROMANIA
Despite headwinds from a 2nd COVID-19 wave, GDP dropped modestly by 1.4% y-o-y in Q4:20, containing full-year contraction to just 3.9%
Orderly fiscal adjustment should allow GDP to rebound strongly in FY:21
NORTH MACEDONIA
Bank profitability remained solid in FY:20, despite being eroded by higher provisioning and weaker pre-provision operating income, due to the COVID-19 fallout
Strong profitability base and fundamentals provide a line of defense against potential losses
APPENDIX: MACROECONOMIC & FINANCIAL INDICATORS