Southeast Europe / Data

Easing of lockdowns offers hope to emerging Europe’s COVID-struck economies

bne IntelliNews June 2, 2020

Governments continue to lift restrictions but there are warnings over a surge in new infections in Armenia, Iran and North Macedonia.

Romanian banks post 9% y/y smaller profit in Q1

bne IntelIiNews June 2, 2020

The coronavirus pandemic drove down the local banks' profits as several lenders set aside provisions to mitigate the higher risks generated by the COVID-19 crisis.

Serbia posts strong GDP growth of 5% in 1Q20 despite coronavirus

bne IntelliNews June 1, 2020

Although Serbia posted strong GDP growth in the first quarter of 2020, it is expected to fall into recession this year due to the coronavirus pandemic.

May PMI shows Turkish manufacturing buffeted again but signposts road to recovery

bne IntelIiNews June 1, 2020

Reading improves to 40.9 from 33.4 in April. Move to growth should follow as long as COVID-19 continues to be brought under control, says IHS Markit.

No cause to party in Turkey with Q1 growth of 4.5% y/y overshadowed by “ominous” outlook for Q2

bne IntelIiNews May 31, 2020

Capital Economics pencils in second-quarter contraction of around 15% q/q on pandemic impacts.

New coronavirus cases decline across emerging Europe but the epidemic’s not over yet

bne IntelliNews May 29, 2020

Steady growth in new cases in several countries despite easing of lockdowns, numbers pushed up by outbreaks at industrial plants.

Russa’s coronavirus cases close to 300,000 but PM says growth in new cases has halted

bne IntelliNews May 19, 2020

Slowdown in new cases in Eastern Europe, while lockdowns already being lifted in Central and Southeast Europe.

Most Central, Southeast Europe economies contract in Q1 but outperform eurozone average

bne IntelliNews May 18, 2020

Performance ranges from a contraction of 5.4% q/q in Slovakia to growth of 0.3% q/q in Bulgaria and Romania.

Construction to support recovery in Romania after robust Q1 growth

bne IntelliNews May 18, 2020

The construction works volume index increased by 32.6% y/y in Q1 and by nearly 30% y/y in March alone.

Romania’s FDI turns negative in Q1

bne IntelliNews May 15, 2020

Multinationals halted their equity investments and asked their local subsidiaries to pay back their loans, central bank data showed.

Croatia air passenger numbers drop 61.5% y/y in March

bne IntelliNews May 14, 2020

Plunge in passenger numbers expected after coronavirus lockdown and travel restrictions imposed during the month, bringing a halt to tourist travel.

Negative surprise as Turkey posts March industrial production decline of 2% y/y and 7% m/m

bne IntelIiNews May 14, 2020

Despite onset of pandemic and lockdowns market was expecting some growth.

Illegal border crossings to EU via Western Balkans increase 60% in January-April

bne IntelliNews May 13, 2020

More migrants risked the Balkan route in January-March, but almost no illegal border crossings during coronavirus lockdowns in April, says Frontex.

Pandemic causes 76.8% slump in Croatia’s tourist arrivals in March

bne IntelliNews May 11, 2020

Croatia’s large tourism sector is expected to suffer further due to the pandemic, with government estimates of the decline in revenues this year ranging from 60% to 90%.

New daily coronavirus cases in Russia top 10,000 again, down to single figures in much of CEE

bne IntelliNews May 5, 2020

Russia now has the world’s second-fasted growth of COVID-19 cases after the US, with Moscow at the epicentre of the outbreak.

Analysts caution against Turkish rate cuts despite fall in inflation to below 11% in April

bne IntelIiNews May 4, 2020

With lira precariously weak, more monetary easing could pave way to repeat of 2018 currency crisis they warn.

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