Bi-Weekly Report 7 - 20 February 2017


Tourist arrivals posted their sharpest decline in 17 years in FY:16 (down c. 30% to an 8-year low of 25.4mn), due to elevated security concerns

External adjustment came to a halt in 2016, mainly due to weaker tourist receipts



Credit expansion slowed in FY:16

Deposit growth maintained momentum in FY:16, underpinned by strong economic activity

The residential real estate market continued to improve in FY:16



Lending activity improved slowly in FY:16, amid tight credit standards and weak loan demand

Growth in customer deposits slowed in FY:16, due to a normalization in the corporate segment



PM A. Vucic expected to win in the 1st round of the Presidential elections, set to take place in April

Impressive fiscal consolidation in FY:16, for a second successive year



Fiscal consolidation continued for a second consecutive year in FY:16 (0.8 pps of GDP), despite an unstable political environment

Tourist arrivals slow in 2016, partly hit by protracted political instability and social unrest



The negative current account trend reversed course in Q3:16, due to strong tourism inflows



The FY:16 Budget outperformed its target on the back of better-than-projected tax revenue and continued spending restraint

Tourist arrivals rose by more than 20% in FY:16



SDR-denominated Suez Canal receipts boost budget revenue in H2:16/17, due to large currency valuation effects

The tourism crisis has started to ease since November



Bi-Weekly Report 7 - 20 February 2017

Contact Us

We are always ready to respond to your requests for information or to answer your questions about our products and services.

Request more information

Please complete the following details so we can provide you the information you need. In case of fraud, please contact our call center directly at 210 484 8484.
Optional custom content that replaces the the entire default content.