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Bi-Weekly Report 16-29 November 2021

03/12/2021 - Reports

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

TURKEY

The CBRT’s easing bias leaves the TRY on a free fall

An “unconventional” monetary policy, on top of an already weak external position, fuels uncertainty and market volatility

A timely adjustment in monetary policy is crucial to preserving macroeconomic and financial stability

 

NORTH MACEDONIA

The SDSM-led coalition remains in office for the time being; yet political uncertainty is unlikely to ease soon

Amid a still fragile environment, the NBRNM would remain accommodative for longer, despite the significant tightening already carried out by major regional central banks

 

CYPRUS

The real estate market remained resilient in H1:21, on the back of robust demand from local buyers and renewed interest by foreign buyers in related state-supported investment schemes

Following an unprecedented drop in FY:20 due to COVID-19, tourist arrivals are recovering at a relatively fast pace, yet lagging behind pre-COVID levels

 

APPENDIX: MACROECONOMIC & FINANCIAL INDICATORS