Bi-Weekly Report 6-19 February 2018
Turkey
Banking sector bottom line reached a record high in FY:17, mainly due to the authorities' strong support to credit activity
Romania
The NBR hiked its key rate by another 25 bps to 2.25%
Credit expansion strengthened in FY:17, sustaining economic activity
The deposits base continued to expand strongly in FY:17, in line with solid economic activity
Bulgaria
Credit expansion picked-up in FY:17, underpinning economic recovery
Customer deposits gained momentum in FY:17, due to solid economic growth
The residential real estate market maintained its strong momentum in Q3:17
Serbia
The profitability of the banking system is estimated to have improved markedly in FY:17, with ROAE reaching double digits -- for the first time on record
FYROM
Fitch upgraded FYROM's outlook to positive and affirmed its 'BB' status
Tourist activity gained momentum in FY:17, contributing significantly to the improvement in the current account balance
Albania
Albania is on track to secure a non-conditional recommendation in April to open EU accession talks, according to the European Commission's 2018 Enlargement Strategy
The unemployment rate is estimated to have declined for a 3rd successive year to (a 5-year low of) 14.2% in FY:17
Cyprus
A buoyant tourist activity in FY:17, despite increasing competition from neighbouring Turkey and Egypt
Property prices maintained momentum, rising by 1.4% y-o-y in Q3:17
Egypt
The CBE initiated a cycle of monetary policy loosening, cutting its key interest rates by 100 bps
The fiscal deficit narrowed in the first four months of the fiscal year, mainly on tax revenue overperformance
Appendix: Financial Markets