Southeast Europe / Data

Turkey’s one-year foreign debt repayment obligations up 1% m/m to $181bn at end-July

bne IntelliNews September 20, 2018

Public sector on the hook for $33.3bn, private sector for $147.5bn.

Turkish residents’ FX deposits with local lenders rise 1% w/w to $153bn as of September 14

bne IntelliNews September 20, 2018

Figure still well behind record high of $170.4bn recorded in mid-February.

Net portfolio outflows from Turkey amount to $2.68bn as of Sept 14

bne IntelliNews September 20, 2018

Shares see negative movement of $1.3bn while government debt instruments shed $876mn. Corporate bonds down $493mn.

Turkish government's gross debt stock grows 41% y/y in July, highest growth since March 2003

bne IntelliNews September 20, 2018

External debt stock leapt by 31% m/m to TRY574bn due to severe depreciation in the lira.

Turkey’s gross FX reserves fall 2% w/w to 8-year low of $68.9bn as of Sept 14

bne IntelliNews September 20, 2018

Commercial lenders in the country have pulled as much as $4.5bn worth of gold reserves since mid-June in an apparent effort to avert a liquidity crisis amid the nosediving Turkish lira.

Home sales in Turkey contract 13% in August, mortgage sales sink 67%

bne IntelliNews September 19, 2018

Despite stimulus measures number of shifted residential properties down 2% in first eight months of year.

Turkish private sector owed $221.6bn in long-term forex loans as of end-July

bne IntelliNews September 19, 2018

Companies on the hook to repay $70.5bn within a year.

Gap between Turkey’s home price growth and inflation widens to 537bp in July

bne IntelliNews September 18, 2018

House and apartment owners contended with figures of 10.48% and 15.85%, respectively.

Turkey’s retail sales growth falls to 17-month low of 3.1% y/y in July

bne IntelliNews September 18, 2018

Country’s economic woes are eating at consumer confidence and prompting a tightening of belts.

Turkey’s unemployment rate rises to 10.2% in June

bne IntelliNews September 17, 2018

Joblessness rate moves into double figures. Youth unemployment climbs sharply from 17.8% to 19.4%.

Turkey’s vehicle production plunges 34% y/y in August

bne IntelliNews September 17, 2018

Decline is worst monthly performance seen in the year to date and came as Turkey's currency crisis and economic turmoil took hold.

Turkey’s budget deficit expands 563% y/y in August

bne IntelliNews September 17, 2018

Deterioration announced in advance of September 20 release of Medium Term Programme in which substantial fiscal tightening is expected amid country’s difficult economic straits.

Markets surprised by Turkey’s July industrial output growth

bne IntelliNews September 17, 2018

Analysts, however, think figure pre-dates country’s descent into severe economic difficulty and stick to prediction that a deep recession is around the corner.

Romania’s hourly labour cost rises fastest in the EU in second quarter

bne IntelliNews September 14, 2018

The annual rise was supported by a number of salary hikes in the public sector and a rise in the minimum wage. However, compared to other EU member states, labour remains cheap.

Romania’s stock exchange outperforms emerging markets benchmarks

Iulian Ernst in Bucharest September 12, 2018

The main index of the Bucharest Stock Exchange advanced by 4.4% in January-August while emerging markets benchmarks stayed in the red.

Romania and Slovenia show EMEA's strongest hiring confidence for 4Q

bne IntelliNews September 12, 2018

Employers in two Southeast European economies report robust hiring intentions, as global picture remains positive despite looming trade wars and Brexit uncertainty, ManpowerGroup survey shows.

IBM report reveals small CEE/SEE nations’ success in attracting FDI to create jobs

bne IntelliNews September 5, 2018

Serbia holds top spot worldwide in terms of jobs created by foreign direct investors relative to its population size, with fellow Central and Southeast European countries dominating the top 10 locations, IBM's Global Location Trends report shows.

Romanian banks post stellar profits in H1 while NPL ratio drops

Iulian Ernst in Bucharest September 3, 2018

Causes of the high profitability include banks cleaning up their portfolios, the rise in interest rates and consolidation within the sector.

Turkey confirms contraction in July foreign trade gap at 33% y/y

bne IntelliNews August 30, 2018

Data underlines acceleration in the pace of the rebalancing seen in the crisis-hit Turkish economy.

Turkey’s economic confidence index dives 9% m/m to lowest level since 2009

bne IntelliNews August 30, 2018

"Remarkable and simply dreadful print. Clear evidence now of a very hard landing in Turkey," says analyst.