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Bi-Weekly Report 30 November-13 December 2021

15/12/2021 - Reports

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

ROMANIA

The still robust annual GDP growth rate in Q3:21 masks weakening underlying momentum, as disruptions in global supply chains weigh on industrial activity and investment

GDP growth should remain fairly strong in FY:22, shifting to a more balanced composition, despite tightening policies

 

BULGARIA 

Amid heightened uncertainty, GDP growth lost further steam in Q3:21, with economic activity having yet to reach its pre- COVID-19 levels

Economic growth is set to strengthen in 2022, buoyed by a surge in investments financed by EU’s Recovery & Resilience Fund

 

CYPRUS

Real GDP expanded by a robust and stronger-than-expected 5.5% y-o-y (up 1.5% q-o-q s.a.) in Q3:21, underpinned by a tourism-driven surge in exports of services

GDP growth is expected to moderate to a still strong 4.5% in FY:22, remaining above its long-term potential (of 2.5%), with net exports driving economic expansion and domestic demand rebalancing towards EU (RRF)-funded investment

 

APPENDIX: MACROECONOMIC & FINANCIAL INDICATORS​