Economic Snapshot for South-Eastern Europe
September 7, 2022
Economic Growth
Regional economic growth is expected to slow this year as the Ukraine crisis takes its toll. The war is increasing inflation, disrupting supply networks and harming sentiment. Moreover, international sanctions imposed on Russia will have a negative impact on tourism and trade. However, lower unemployment and the relaxation of Covid-19 restrictions should provide some relief.
Inflationary Outlook
Regional inflation rose to a record-high of 45.6% in July, from 45.1% in June. All countries bar Greece experienced greater price pressures in the month, with Turkey the front runner by some distance. Higher prices for food and energy have fueled inflation, which will moderate from current highs by year-end but remain elevated.
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5 years of South-Eastern Europe economic forecasts for more than 30 economic indicators.
South-Eastern Europe Economic News
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Turkey: Business sentiment sours in September
September 26, 2022
Business confidence turned into pessimism at the close of the third quarter, with Real Sector Confidence Index falling to 99.9 in September from 102.1 in August.
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Turkey: Consumer sentiment remains in negative territory in September, despite ticking up
September 22, 2022
Consumer confidence rose to 72.4 in September, up from August's 72.2.
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Turkey: TCMB continues to prioritize economic growth over price stability, lowers rate in September
September 22, 2022
The Central Bank of the Republic of Turkey (TCMB) delivered another surprise rate cut at its 22 September meeting, despite red-hot inflation.
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Cyprus: Harmonized inflation decreases in August
September 16, 2022
Harmonized inflation came in at 9.6% in August, down from July’s 10.6%.
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Croatia: Inflation remains stable in August
September 16, 2022
Inflation came in at 12.3% in August, matching July’s result.
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