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Bi-Weekly Report 5 – 18 May 2020

19/05/2020 - Reports

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

ROMANIA

A rising risk premium prompts the NBR to “wait-and-see”

The COVID-19 pandemic hits Romania at a time of limited fiscal flexibility

 

NORTH MACEDONIA

A sharp economic contraction, together with higher spending to contain the impact of COVID-19, should push the budget deep “into the red” in FY:20 (-6.0% of GDP)

The Central Bank cut its key rate by another 25 bps to a record low of 1.5%, amid COVID-19 concerns

 

ALBANIA

Higher spending to mitigate the COVID-19 shock and support post-earthquake reconstruction, together with the impact of the recession, should boost the budget deficit to 6.0% of GDP in FY:20

The Bank of Albania is set to remain cautious, in view of deteriorating external imbalances

 

APPENDIX: FINANCIAL MARKETS