Weekly Report 2-8 February 2016

TURKEY

Headline inflation rises to a 20-month high of 9.6% y-o-y in January

The tourism industry posts the worst performance in 9 years in 2016, due to the Russian economic downturn and security concerns

 

ROMANIA

Credit to the private sector, adjusted for large write-offs and NPL sales, is estimated to have posted robust growth of c. 5.0% in FY:15

Deposit growth maintains momentum in FY:15, in line with strong economic activity

 

BULGARIA

Lending activity remains constrained in FY:15, due to tight credit standards and weak loan demand

Growth in customer deposits improves in FY:15

 

SERBIA

Economic activity posts positive growth for a third consecutive quarter in Q4:15 (1.3% y-o-y)

 

FYROM

Current account deficit narrows by 0.7 pps y-o-y to 0.3% of GDP in 11M:15, mainly on the back of a strong trade performance

 

ALBANIA

Fiscal deficit outperfoms its FY:15 target, as the revenue underperformance was offset by primary expenditure restraint and lower interest payments

 

CYPRUS

Customer deposit growth returns to positive territory in 2015

Banking sector deleveraging eases significantly in 2015

Unemployment eases significantly in 2015

 

EGYPT

Tourist activity has been hit hard following the terrorist bombing of a Russian plane in late-October

Suez Canal receipts decline in the first half of the new fiscal year

 

APPENDIX: FINANCIAL MARKETS

Weekly Report 2-8 February 2016
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