Weekly Report 28 June - 4 July 2016

TURKEY

Headline inflation rises to 7.6% y-o-y in June from a 3-year low of 6.6% y-o-y in May, due to higher food prices

Trade balance improves significantly in the first 5 months of the year, mainly on the back of a favourable energy bill

 

ROMANIA

The NBR remains on hold, despite the subdued inflation outlook

 

BULGARIA

Significant fiscal consolidation in 5M:16, with the 12-month rolling budget deficit narrowing to 0.9% of GDP in May from 2.9% at end- 2015

 

SERBIA

Activity accelerates to a 10-quarter high of 3.5% y-o-y in Q1:16

 

FYROM

Fiscal consolidation continues in 5M:16, with the 12-month rolling budget deficit narrowing to 3.1% of GDP in May from 3.5% at end- 2015

 

ALBANIA

An IMF mission reaches a staff-level agreement on the 8th review of Albania’s Extended Fund Facility

Unemployment rate declines further to a still high 16.9% in Q1:16

 

CYPRUS

Current account deficit, excluding ship transactions, narrows by 0.9 pps y-o-y to 2.0% of GDP in Q1:16, on the back of a surge in exports of services and a favourable energy bill

 

EGYPT

Negotiations with the IMF underway for a USD 10bn loan

 

APPENDIX: FINANCIAL MARKETS

Weekly Report 28 June - 4 July 2016
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