Southeast Europe / Data
Flash estimate shows Bulgaria’s GDP growth at 2.2% in 3Q24
Growth speeds up compared to previous nine quarters as Bulgaria adjusts to nearby Ukraine war and domestic political crises.
Romania’s GDP grows by just 0.9% y/y in January-September
Agriculture, industry and construction were among the long list of sectors whose poor performance dragged growth down.
Romania’s industrial output falls by 2.0% q/q in Q3
Romanian industries are failing to take advantage of robust demand within the country, which instead has resulted in higher imports.
Romania’s trade gap widens sharply in Q3
Romania is increasingly importing consumer goods, while failing to develop value-added or export-driven industries.
Romania’s central bank hikes end-2024 inflation forecast to 4.9%
With balance of risks to the inflation rate tilted to the upside, National Bank of Romania puts future rate cuts on hold.
Romanian central bank maintains policy rate amid persistent inflation and heightened risks
Faced with multiple sources of uncertainty, the BNR continued its cautious stance.
Turkey bumps up end-2024 inflation “target” to 44%
Election of Trump sounds like good economic opportunity for Ankara, but nobody can really know as things stand.
North Macedonia’s central bank cuts GDP growth projections for 2024, 2025
Slower recovery than previously expected, but inflation on track to drop to 3.5% this year and continue downward trend into 2025.
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Turkish manufacturing still has it tough despite slight easing of pressure, October PMI shows
Manufacturers encountering challenging demand conditions.
Turkey releases official October inflation at 49% y/y
ENAG contends inflation moved up 1 percentage point to 90% y/y.
Akbank launches autumn syndicated loan renewals season for Turkish banks at better cost and longer maturities
734-day tranches emerge as new phenomenon.
Romania’s public debt hiked by €3.3bn in July to reach 52% of GDP
Annual rise in public debt is expected reach a new record in 2024 of over €28bn, surpassing the €25.9bn net borrowing in the Covid year 2020.
Turkey sticks with 50% policy rate for seventh straight month
Uncertainty over the pace of improvement in inflation has increased in light of incoming data, says central bank.
Bulgaria’s consumer inflation at 1.2% in September
Consumer prices in Bulgaria rose by 1.2% in September 2024 compared to the same period last year (chart), according to preliminary National Statistical Institute (NSI) data. Month on month, the Consumer Price Index (CPI) decreased by 1%.
Romania’s industrial figures confirm subdued economic activity in August
Industrial production index plunged by 4.2% y/y, marking one of the most significant annual declines in the past year and a half.
Romania’s inflation eases to 4.6% y/y in September, but upside risks mount
Expectations of further disinflation are being put at risk by a sharp rise in real earnings, fiscal slippage and potential rises in energy prices.
Romania’s retail sales return to record level in August after 8.1% y/y advance
Annual growth rate remained above 8% y/y for the third consecutive month.
M&A activity in Romania up 22% y/y in January-September, according to EY report
Big energy deals dominate in year so far.
Romania keeps monetary policy rate at 6.5%
High uncertainties and risks stem from Romania's fiscal and income policy stance, as well as external factors.
Official inflation in Turkey falls below policy rate for first time since July 2021
Stands a percentage point below the central bank benchmark of 50%. But the ENAG unofficial reading puts it at 89%.