Poland’s industrial production disappoints in March as output declines 6% y/y
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Turkey will fail to reach its growth targets for the next two years, according to a poll of 41 economists conducted by news agency Reuters.
Following a failed coup d’etat on July 15, Turkish President Recep Tayyip Erdoğan has engaged in a full-scale purge of all public institutions in the country – a move that has evidently spooked most economists, as illustrated by the downwardly-revised growth forecasts.
The government forecasts of 4.5% GDP growth in 2016 and 5% in 2017 were both revised down to 3.5% by the Reuters panel of economists, after Turkey recorded 4% growth in 2015.
The lira fell to a record low on July 20 after Erdogan announced a three-month state of emergency, a move that could spell further economic damage due to weakened tourism revenues and costlier servicing of Turkey’s large volumes of FX-denominated external debt.
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Poland’s industrial production disappoints in March as output declines 6% y/y
Poland’s industrial production fell 6% year on year in constant prices in March (chart), after a gain of 3.3% y/y the preceding month, unadjusted data from the statistical office GUS showed on April 22.
Ford drives hike in car production in Romania
Romania’s automobile production increased by 7% y/y to more than 150,000 units in Q1.
Akbank launches spring syndicated loan renewals season for Turkish banks at better costs
Benefits of Turkey’s so-called economic normalisation policy clearly observed in external debt rollovers.
Ukraine's birth rate plummets to 300-year low as country’s population collapses
Ukraine’s population collapsed to 29mn souls last year, according to Ukraine Business News, with just 187,000 births recorded (including in Russian-occupied territories). This is the lowest annual figure in recorded history over the last 300 years.
Russia’s $13.4bn current account surplus in March second highest since 2007
Russia posted a $13.4bn current account surplus in March, more than double February’s $5.5bn and the second highest level for a March since 2007.
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