Southeast Europe / Data
Moody’s upgrades Turkey to three notches below investment grade
Though substantially rebuilt, net FX reserves still 25% lower than in mid-March, when market turbulence followed the jailing of Istanbul mayor Ekrem Imamoglu.
Serbia to repatriate entire gold reserve amid global uncertainty
Serbia’s central bank plans to repatriate the country’s entire gold reserves from abroad, becoming the first Eastern European country to hold all of its bullion domestically.
Turkey revives monetary easing cycle with 300bp rate cut
Finance industry has indicated Turkish markets will remain calm at least until big mid-September trial concerning opposition figures.
Serbia’s FDI falls nearly 70% in first five months of 2025
Slump in FDI raises concerns over Serbia’s economic trajectory, as foreign investment has been a key engine of growth, job creation and export expansion.
Moldova’s manufacturing sector posts strongest growth in 10 months in May
The May results show a significant recovery for the sector, which contracted sharply in late 2024
3,233% inflation seen in Turkey’s chicken Burger King menu demonstrates enduring economic pain
Grumbling, meanwhile, emerges from lira investors under pressure from officials to share their profits.
Serbia among top global gold buyers in 2025
The National Bank of Serbia now holds 50.5 tonnes of gold, said governor Jorgovanka Tabakovic.
Subdued demand in EU and weak crops weigh on Moldova’s exports
Moldova’s exports fell by 11.1% y/y in May and by 10.8% to €3.1bn in the 12 months to May 2025.
Romania’s industrial output rebounds in May on low base
Romania’s industrial production posted a sharp year-on-year increase of 7.1% in May.
Romania’s inflation rises to 5.66% in June ahead of anticipated price pressures
Electricity market liberalisation and a VAT hike in August are expected to put upward pressure on prices.
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Romania’s revised Q1 GDP shows slower consumption growth
Data confirms Romania’s GDP continued its five-quarter quasi-stagnation in Q1.
Kosovo’s annual inflation speeds up to 4.3% in June
Steepest annual price rises for categories including food products, transport and package holidays.
Which countries have received Trump's tariff letters? – Statista
US President Donald Trump has delayed his so-called “reciprocal” tariffs once more, with the new deadline set for August 1, Statista reports.
EY estimates Romania's M&A market rose 45% y/y to $4.1bn in H1 2025
EY says Romania's M&A market "demonstrated resilience", buoyed by large strategic transactions.
Global and domestic uncertainty drag down Serbia's GDP growth
GDP expands by just 2.2% in 5M25 amid weakening demand from major European trade partners and declining inflows of capital and foreign direct investment.
Turkey releases official June inflation at 35% y/y
Turkey’s consumer price index (CPI) inflation officially stood at 35.05% y/y in June versus 35.41% y/y in May and 44% y/y at end-2024.
Istanbul-listed Isbank’s CEO expects 350bp rate cut on July 24
Head of Turkey's government-run Ziraat Bank is also anticipating a significant downward move in the benchmark.
Turks back in the game tapping eurobond market
Four Turkish issuers raise combined $3.85bn in three days.
Moldova’s economy minister attributes Q1 GDP contraction to export decline
Doina Nistor says growth in services exports failed to offset decline in exports of goods.
Spare my blushes – Spanish asset manager discusses Turkey’s 0% weight in portfolios
To the MSCI EM Index, country remains a rounding error. Will the Israel-Iran clash blow it and the world further off course?