Data
Ukraine's international reserves rose to $28.8bn in July
In July 2020, Ukraine's international reserves increased by 1.0% to $28.802bn (in equivalent), the National Bank of Ukraine (NBU) announced on August 7.
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Ukraine GDP dropped 6.5% y/y in 1H20, ministry estimates
Ukraine’s real GDP dropped 6.5% y/y in 1H20, deepening from estimated 5.9% y/y decline in 5M20, according to an estimate published on Aug. 6 in the report of the Ministry of Economic Development. In 2Q20, GDP collapsed 11.0% y/y
Rosstat reported that CPI grew 0.4% m/m in July, bringing the annualized inflation rate to 3.4% y/y.
Rosstat reported that CPI grew 0.4% m/m in July, bringing the annualized inflation rate to 3.4% y/y.
Turkish manufacturing saw sharp expansion in output and new orders July PMI data shows
The growth “will help to claw back some of the output lost” during the pandemic-triggered downturn “but will have to be sustained for a longer period for a full recovery to be secured”, says IHS Markit.
Moscow’s Watcom shopping index almost back to normal as shoppers return to Moscow's malls
Moscow’s Watcom shopping index has recovered almost all of the ground lost during the lockdown in spring as Russian consumers have returned to the top malls in the capital.
Russian manufacturing PMI remains under pressure in July
The headline seasonally adjusted IHS Markit Russia Manufacturing PMI (Purchasing Managers Index) has remained under pressure in July, posting 48.4, down from the 49.4 seen in June, IHS Markit reported on August 3.
Croatia’s retail trade revives in June as restrictions lifted
Trade in non-food products grew by 11.9% compared to May, despite a slump in the value of automotive fuels and lubricants sales.
Slovenia reports population increase in 3M20 driven by immigration
Slovenia’s population reached 2,097,195 as of April 1, up by 1,300 compared to three months earlier.
Romania’s budget deficit hits 4.2% of GDP in H1
Deficit soared by 126% y/y to €9.4bn, but Finance Minister Florin Citu says Romania won't need IMF support.
Croatian tourist arrivals pass 2mn mark in July
Visitor numbers from Germany, Slovenia, Poland and the Czech Republic nearly as high as last year, raising hopes of a respectable tourist season despite the pandemic.
Russian President Vladimir Putin has regained his lead in the popularity rankings over Russia’s regional governors
In March the governors overtook Putin in the popularity stakes with an approval rating of 65 vs Putin’s 63, but since then they have seen their popularity fall by 7pp
Russian consumer confidence crashed in 2Q20, business confidence starts to recover
Consumer confidence crashed in the second quarter of this year, while business confidence has started to recover after its nadir in May.
One in three Russian companies lost money over the first four months of this year
The share of unprofitable organisations in Russia in January-May 2020 amounted to 36%. At the same time, the profit of Russian enterprises fell by more than two times, according to Rosstat data.
Fat cats: new study shows corruption can be measured in kilos
A new study finds that the more overweight the politicians in a government from the former Soviet Union are, the more likely that government is to be corrupt.
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Turkey’s policy rate held again as central bank weighs risk of inflation overshooting
Analyst concludes: “We think rates will now be left on hold for the next couple of years. But given high rates of inflation as well as the lingering threat of renewed falls in the lira, the risks are skewed towards tighter policy.”
Russian M&A market down to nine-year low in 1H20
M&A volume in 1H20 was only boosted by the finance ministry's purchase of 50% of Russia's largest bank Sberbank from the Central Bank of Russia for $33.9bn.
Moldova’s industry recovers in May
Moldovan companies received modest public support during the coronacrisis and avoided suspending operations, but this had a negative impact on the epidemiological situation in the country.
Polish retail sales reduce fall margin to just 1.3% y/y in June
A larger reduction in shops’ turnover had been expected but it appears that the positive effect of accumulated demand played a role in reducing the fall rate.
Contraction of tourism sector drags down employment in Croatia
The sharpest y/y drop in employment was in the accommodation and food service sector, even though Zagreb has encouraged tourist visits post-lockdown.
Polish industrial production records first expansion since COVID-19 outbreak
Industrial production growth in June brought a major positive surprise, supported by the positive calendar effect as well as the base effect, as the industrial sector contracted in June last year.