Bosnia’s GDP growth slows to 1.7% y/y in 4Q23

bne IntelliNews April 1, 2024

World Bank expects annual growth of 2.5% this year, down from 4% in 2023.

Ukraine's banking sector to have another strong year

Ben Aris in Berlin April 1, 2024

Ukraine’s banking sector had a strong year in 2023, ending with a cumulative UAH85.5bn profit, despite taking a UAH44bn hit in December when the banks were forced to pay a 50% one-off tax on profits.

Russian patriotism reaches an all time high – poll

bne IntelliNews March 31, 2024

Patriotism in Russia is at an all-time high, according to a recent poll conducted by the Russian Public Opinion Research Center (VTsIOM) published on March 29. An overwhelming majority (94%) of Russians identify themselves as “patriots.

Non-resident holders of Russian OFZ fall to 7.2% as state-owned banks take up more slack

Ben Aris in Berlin March 31, 2024

The share of non-resident holders of Russian Finance Ministry’s OFZ treasury bills fell again in February to 7.2%, or RUB1.4 trillion, of the total outstanding bonds worth RUB20.1 trillion ($217bn), as Russia’s state-owned banks take up the slack.

Russia could pay off its entire external debt tomorrow, in cash

Ben Aris in Berlin March 30, 2024

Russia external debt has been falling steadily and reached $326.6bn in December 2023, compared with $322.3bn in the previous quarter and $383.6bn at the end of 2022. It could pay the entire amount off tomorrow – in cash.

Polish chocolate exports third largest in EU last year

bne IntelliNews March 29, 2024

Poland exported 115,000 tonnes or 13% of the EU’s total chocolate exports in 2023.

Revised data show Czech GDP dropped in 2023 by 0.2%

bne IntelliNews March 29, 2024

Czech GDP increased in the fourth quarter by 0.4% quarter on quarter and by 0.2% year on year following a revision by the Czech Statistical Office.

Russian industrial production growth surged in February to 8.5%, easily outstripping analysts’ expectations.

bne IntelliNews March 28, 2024

Russian industrial production growth surged in February to 8.5% y/y, easily outstripping analysts' expectations.

Labour costs in Western Europe still four times higher than in Romania and Bulgaria

Iulian Ernst in Bucharest March 28, 2024

Bulgaria has the EU's lowest labour cost, while Romania still lags well behind Poland and Hungary.

Bank lending loses steam in Romania

Iulian Ernst in Bucharest March 27, 2024

The annual increase of the stock of bank loans in Romania has eased gradually from 6.4% y/y in December to 5.7% y/y in January and 4.9% y/y in February.

Romania's GDP per capita surpassed Hungary's in 2023

bne IntelliNews March 27, 2024

Romania has been catching up with the EU average faster than Hungary, which fell into recession in 2023.

Hungarian central bank cuts base rate by 75bp to 8.25%

bne IntelliNews March 27, 2024

Policymakers had discussed three options, a 50bp, 75bp and 100bp cut, and decided unanimously on the 75bp one, deputy governor Barnabas Virag said after the rate decision.

Where water stress will be highest by 2050

Martin Armstrong for Statista March 24, 2024

Water is not only the basis of life for animals and plants but is also likely to become a contested resource in parts of the world in the coming decades, reports Statista.

China remains Uzbekistan top trade partners with $2.1bn in 2023

Ben Aris in Berlin March 24, 2024

China remained Uzbekistan top trade partner in the first two months of this year with a mutual trade turnover of $2.1bn, according to preliminary data from the Statistics Agency, Daryo reported on March 21.

Russia's CBR keeps rates on hold at 16%, but inflation expectations starting to fall

bne IntelliNews March 22, 2024

Russia’s Central Bank of Russia (CBR) kept rates on hold at 16% as expected at its monetary policy meeting on March 22, despite slowing inflation and falling inflation expectations amongst the population.

Polish retail sales jump 6.1% y/y in February

Wojiech Kosc in Warsaw March 22, 2024

Consumption is expected to drive Polish economic growth in 2024 to 3%-4% after an expansion of just 0.2% last year.

Moldova’s central bank cuts policy rate by 50bp

Iulian Ernst in Bucharest March 22, 2024

National Bank of Moldova said decision aims “to slow down the decrease in inflation”.

Turkey dazzles market with additional 500bp rate hike to 50%

bne IntelliNews March 21, 2024

Central bank also widens spread in overnight lending channel. Authority has been pushing local banks to borrow from the funding facility.

Polish PPI deflation eases slightly in February

Wojciech Kosc in Warsaw March 21, 2024

Poland's producer price index declined 10.1% year on year in February, following a revised fall of 10.4% y/y in January.

Romania’s construction index plunges by 14.8% y/y in January

bne IntelliNews March 21, 2024

Slump was deepest for residential construction segment.