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

Bi-Weekly Report 6-19 February 2018
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