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Russia’s federal budget deficit for the first ten days of March has already exceeded the planned RUB2.9bn for the entire year of 2023, Russian Prime Minister Mikhail Mishustin admitted on March 24.
Romania’s GDP per capita soars to 77% of EU average, up from just 57% in 2012.
South Africa declares a state of disaster as it grapples with a severe energy crisis that has far-reaching impacts on its economy and society. The country's coal-fired power plants, which generate 95% of its electricity, fail to provide enough power.
Country’s banking system assessed as in strongest position it has been in for many years, but vulnerabilities “could be exposed if concerns about the global banking system were to escalate”.
Chinese President Xi Jinping took his leave of Russian President Vladimir Putin from a two-day visit to Moscow with a smile on his face. But despite the important show of solidarity, Putin got little in concrete terms from the Chinese leader.
The Georgian economy has bounced back fast from the series of sharp shocks of recent years, and rather than being dragged down by the polycrisis that has been unfolding.
For the past six months, the US Fed has been fighting inflation by jacking up interest rates and tightening money supply to fight inflation. This author, and others, predicted that “something will break”. Something did break: SVB
PM Ana Brnabic says Serbia must become a leader in AI to achieve fast and dynamic economic growth in future.
Fall deepens dramatically after a decline of 0.3% y/y the preceding month.
Putin took time out from meetings with Chinese President Xi Jinping who had just arrived in Moscow for a three-day state visit to speak to lawmakers from more than 40 African countries and woo them with generous promises of economic and military aid
Consumer price inflation dropped from nearly 35% y/y in October to under 25% y/y in February and the BNM expects it to drop down to 6.6% by the end of the year.
Romania’s fiscal policy continues to consolidate and borrowing needs are at a record high due to the heavy maturity calendar. However, net issuance of ROMGBs is almost the same as last year. Romania is the region's leader with 44% of planned bonds.
The February fall is the first since May 2020 and was more than 2pp below the consensus line.
Georgia's leading bank is expanding its international operations and investing in cutting-edge banking technologies.
Russian GDP contracted by 2.1% last year. For the current year, we expect an economic decline of similar magnitude.
In each of the last two quarters of the year, the annual decline was steeper than 10%.
Document leaked ahead of general election raised fears about Bulgaria's financial stability.
World Bank expects Kosovo's economy expanded by 3.1% in 2022, with growth to speed up to 3.7% this year.
The Western Balkan countries are following the path established by Central Europe that emerged as a prominent manufacturing and services hub early in the transition period.