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Bi-Weekly Report 16 – 29 June 2020

30/06/2020 - Reports

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

SERBIA

The coalition led by the Pro-Presidential ruling Serbian Progressive Party secured a landslide victory in the Parliamentary election boycotted by the opposition

Broader political continuity is expected after the elections

The NBS cut further its key rate by 25 bps to 1.25% to spur economic recovery from COVID-19

 

ALBANIA

COVID-19 and the impact of the end-2019 earthquake weighed on GDP growth in Q1:20 (down 2.5% y-o-y)

Albania is heading to a severe recession in Q2:20, driven by the services sector, before slowly recovering in H2:20

 

NORTH MACEDONIA

High uncertainty due to COVID-19 and lockdown measures suppressed Q1:20 GDP growth (up 0.2% y-o-y)

GDP is set to drop abruptly in Q2:20, driven by domestic demand, before gradually recovering in H2:20

 

APPENDIX: FINANCIAL MARKETS