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.
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.
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.
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.
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.
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.
Short-term loans jump 7% m/m as of the end of the fourth month.
The expansion has now lasted 19 consecutive months, but the growth deceleration has persisted for the past four months.
Eurostat figures confirm Romania is following the same path as its northern neighbours in CEE, whose labour markets have tightened dramatically.
Calculation takes into account salary growth commensurate with the growth of labour productivity next year, said Economy Minister Vladimir Zinovsky.
Passenger numbers at Georgian airports soared by 30.5% and there were more modest hikes in Ukraine, Macedonia and Montenegro, ACI Europe study shows.
The surge in consumer prices fuels expectations of a more hawkish central bank stance in the coming months.
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.
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.
The Slovenian government was the top recipient of dividends from local companies in 2017, taking 38% of the total €734mn.
Output declines for the second consecutive month and registers 2% fall for Jan-May.
Ukraine’s consumer prices remained flat in May comparing with April, while annual inflation stood at 11.7% year-on-year following 13.2% y/y in April, according to the Ukrstat state statistics service.
Businesses and analysts became more anxious about rising prices amid the collapse in the value of the Turkish lira.
Figure nevertheless will spur more anxieties that Turkey's economy is growing significantly above its potential.
Albania's unemployment rate has been on a downward trend for the last few years and the European Commission expects it will drop further through 2019.