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Bi-Weekly Report 14 – 27 July 2020

28/07/2020 - Reports

Southeastern Europe and Mediterranean Emerging Market Economies; --Weekly Report

BULGARIA

Bulgaria enters the Exchange Rate Mechanism II (ERM-II), a precursor to adopting the euro

Albeit starting from a good position, Bulgaria is set to face challenges in its path towards euro adoption

 

NORTH MACEDONIA

A “razor-thin” result in the Parliamentary elections fails to end political uncertainty

 

CYPRUS

Adjusted for the deterioration in the ship trade balance, the current account deficit remained broadly flat at 5.6% of GDP on a 4-quarter rolling basis in Q1:20

Following an unprecedented drop in H1:20 due to COVID-19, tourist arrivals are set to recover in the period ahead, yet lagging far behind the levels of previous years

 

APPENDIX: FINANCIAL MARKETS