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Bi-Weekly Report 24 August-6 September 2021

10/09/2021 - Reports

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

TURKEY

GDP expanded by a massive 21.7% y-o-y in Q2:21, mainly due to a sizeable base effect from the plunge in economic activity at the onset of the pandemic last year

Fading COVID-19-related base effects, together with tighter monetary policy conditions, are set to weigh on economic growth during the remainder of the year

 

BULGARIA

Higher global energy prices and reviving domestic demand have kept the current account deficit under pressure since the beginning of the year

Stronger tourism inflows during the remainder of the year should help close the current account gap

Albeit rebounding lately, tourism activity remains well below its pre-COVID-19 level

 

SERBIA

Strong positive base effects, together with reviving domestic demand and the solid recovery in the EU, boosted GDP growth in Q2:21 (to 13.7% y-o-y)

GDP growth is set to remain robust in H2:21, underpinned by a looser fiscal stance

 

APPENDIX: MACROECONOMIC & FINANCIAL INDICATORS