Georgia reports 13% y/y increase in remittance inflows in May

bne IntelliNews June 19, 2018

EU countries accounted for the largest share of the total, at $44.3mn.

Turkey’s short-term external debt rises 3% m/m in April

bne IntelliNews June 19, 2018

Amid the country's currency collapse, it reached the highest level recorded since March 2015.

Turkey’s retail sales growth up slightly to 8% y/y in April

bne IntelliNews June 19, 2018

Rate of growth edges ahead of March's 7.7%.

Turkey’s budget surplus contracts 58% y/y in May

bne IntelliNews June 18, 2018

Across January-May, it expanded by 78% y/y to TRY20.5bn.

Turkey’s unemployment rate falls to 10.1% in March

bne IntelliNews June 18, 2018

Good news for the ruling party ahead of this week's elections but the figures do not cover the period that saw the start of the ongoing economic slowdown in Turkey.

Romania sees EU's fastest hourly average labour cost rise in April

bne IntelliNews June 18, 2018

However, Romania's convergence with EU averages remains slow, and the sharp growth of the labour cost in Romania announced by Eurostat was offset by the highest inflation in Europe.

Romania’s construction works remain subdued in April

bne IntelliNews June 18, 2018

The volume of construction works in Romania contracted by 4.1% y/y in April after the average 2.2% y/y decline in Q1.

Moldova’s GDP 3.7% up y/y in Q1 driven by domestic demand

bne IntelliNews June 18, 2018

Economy has expanded by 4.0% p.a. since 2010, but this remains below the rates needed for the country's convergence with the European Union.

VAT hike tips Russia's CBR into hold decision on key rate at 7.25%

bne IntelliNews June 15, 2018

The board of the Central Bank of Russia resolved on June 15 to keep the key interest rate unchanged at current 7.25%, citing this week's government's decision to hike the VAT rate to 20% as the main reason for further postponing monetary easing.

Romania’s central bank points to rising default risk among households

Iulian Ernst in Bucharest June 15, 2018

The volume of NPLs accumulated by households increased by 13% y/y as of end-March, becoming the main threat to Romania’s financial stability, a central bank report said.

Russia's top five banks account for 80% of ballooning volume of mortgage loans

Ben Aris in Berlin June 14, 2018

The biggest five banks in Russia account for eight out of ten rubles lent to home buyers and mortgage loans were up over 80% in the first four months of this year.

Russia's CBR policy uncertain ahead of June 15 meeting as Fed hikes rates

bne IntelliNews June 14, 2018

Uncertainty surrounds the Central Bank of Russia (CBR) monetary policy meeting on June 15, as analysts can’t agree on if the regulator will cut rates by 25bp from current the 7.00% or leave them on hold.

Turkey’s private sector long-term foreign loans stock edges down 0.84% m/m in April

bne IntelliNews June 13, 2018

Short-term loans jump 7% m/m as of the end of the fourth month.

Turkey’s industrial output growth slows to 6.2% in April but better-than-expected

bne IntelliNews June 13, 2018

The expansion has now lasted 19 consecutive months, but the growth deceleration has persisted for the past four months.

Romania reports highest quarterly employment growth in the EU in first quarter

bne IntelliNews June 13, 2018

Eurostat figures confirm Romania is following the same path as its northern neighbours in CEE, whose labour markets have tightened dramatically.

Real disposable cash earnings in Belarus to grow by 3.4% y/y in 2019

bne IntelliNews June 13, 2018

Calculation takes into account salary growth commensurate with the growth of labour productivity next year, said Economy Minister Vladimir Zinovsky.

Europe’s southeast corner sees sharp increase in airport traffic

bne IntelliNews June 13, 2018

Passenger numbers at Georgian airports soared by 30.5% and there were more modest hikes in Ukraine, Macedonia and Montenegro, ACI Europe study shows.

Romania’s headline inflation hits 5.4% y/y in May

Iulian Ernst in Bucharest June 13, 2018

The surge in consumer prices fuels expectations of a more hawkish central bank stance in the coming months.

Croatia ranks first worldwide in terms of tourist spending to GDP ratio

Carmen Simion in Bucharest June 12, 2018

Tourism contributed 18.8% of Croatia's GDP in 2016 and that ratio is expected to soar this year after investments in new terminals at the country's main airports, found a report from consultancy network UHY.

Romania’s trade gap temporarily narrows in April

Iulian Ernst in Bucharest June 12, 2018

The long-term trend is towards wider trade deficits, and despite the narrowing in April on the back of a hike in exports, more is needed to return the trade gap to a more sustainable level.