Southeast Europe / Data
North Macedonia’s central bank maintains key interest rate at 5.35%
Central bank says global geopolitical uncertainties and rising protectionist policies have reinforced the need for prudence.
Moldova’s inflation eases to 8.6% y/y in February as government subsidises electricity prices
Moldova's government announced subsidies after Gazprom cut off gas supplies previously used to generate electricity.
North Macedonia’s FX reserves up 11.8% y/y at end-February
North Macedonia’s gross international reserves reach €4.861bn at end-February.
Private consumption fuelled Romania's modest 2024 GDP growth
Romania's GDP grew by just 0.9% in 2024 as agriculture and consumption sectors shrank while industry stagnated.
Romania’s retail sales show signs of fatigue in January
Retail sales volume in Romania increased by 4.1% y/y in January, half the 8.6% y/y advance in 2024 and 9.2% y/y in Q4 2024, according to data published by the statistics office.
Romania’s PMI inches up in February from record low in January
The Manufacturing PMI in Romania inched up in February to 48.3 from the record low of 46.1 in January, remaining significantly below the 50 neutral mark for the eighth consecutive month, according to BCR Romania.
Turkey delivers third consecutive 250-bp rate cut in line with expectations
Policy rate now stands at 42.5% versus official inflation of 39%.
PMI shows Turkish manufacturing endured another tough month in February
Manufacturers proved reluctant to take on staff or invest in buying in new materials. Headwinds around inflation continued to build.
Serbia reports 16% growth in foreign tourist numbers
Largest numbers of tourists recorded from neighbouring countries, plus Russia and Turkey.
Turkey's official inflation edges below 40% in February
ENAG research group of economists contends rate actually stands at 80%.
Turkey releases official GDP growth of 3.2% for 2024
The finance industry sought a technical recession and got one. That has now been exited.
Emirates NBD intermediates 26 eurobond sales by Turkish issuers in 2024
Turkey's eurobond sellers last year raised $33bn from 46 papers, setting an annual record, while redeeming $16bn on 19 papers.
Romania’s CFA Society confidence index improves but outlook remains bleak
Romania’s macroeconomic confidence index (chart), compiled by CFA Society Romania, increased by 2.3 points month on month to 40.4 in January. Despite this improvement, it remained below the neutral 50-point threshold.
Borsa Istanbul extends short selling restriction to avoid collapse
Local investors, who dominate the highly manipulated market, have turned to deposits and money market funds. There are no IPOs in the pipeline.
Turkey confirms it expects 1.3 bcm of Turkmen gas flows by end-2025
Country continues to push its ambition to become a gas re-export hub, but if sanctions on Russia are lifted amid a deal on Ukraine, that hope could fall apart.
North Macedonia surpasses €1bn in FDI for the first time
Increase reflects North Macedonia’s growing appeal as a destination for high-tech manufacturing and sustainable energy solutions.
Serbia's central bank forecasts 4.5% GDP growth in 2025
Automotive sector to buoy economy in 2025 after Serbia achieved one of the fastest growth rates in Europe last year.
Every third citizen in North Macedonia considering emigration
Survey by Skopje-based Institute for Political Research finds low salaries are the primary motivating force for emigration.
Romania’s GDP grows 0.9% in 2024, flash estimate shows
Romania’s economy expanded by 0.9% year on year in 2024 (chart), after posting a 0.7% y/y increase in Q4, according to a flash estimate from the national statistics office.
Romania’s industrial output contracts 1.6% y/y in 2024 despite Q4 rebound
Utilities sector weighed on overall performance, while food manufacturing, chemicals and oil refining bucked the negative trend.