Economic Snapshot for South-Eastern Europe
January 10, 2023
Economic Growth
Regional growth will cool significantly this year. A weaker Euro Area economy, elevated inflation, geopolitical volatility and the war in Ukraine will restrain household spending, industrial production and exports. On top of this, tighter financing conditions should further subdue activity in most countries. Turkey should expand more robustly than its smaller regional peers.
Inflationary Outlook
Regional inflation declined to 48.4% in November from a serieshigh of 48.8% in October. Slightly lower inflation in Turkey drove the moderation. Inflation also decelerated in the Balkans, barring Croatia, Montenegro and Serbia. Regional inflation should ease this year, although it will remain elevated due to continued passthrough effects from high production costs.
Sample Report
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 confidence picks up and climbs into positive territory in January
January 25, 2023
Business confidence came in at 101.7 in January, up from December's 97.8.
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Turkey: Consumer confidence hits highest reading since September 2021 but remains pessimistic in January
January 23, 2023
Consumer confidence rose to 79.1 in January from December's 75.6.
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Turkey: TCMB holds again in January
January 19, 2023
On 19 January, the Central Bank of the Republic of Turkey (TCMB) fulfilled market expectations by once again keeping the one-week repo rate unchanged at 9.00%.
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Greece: Harmonized inflation drops to lowest level since February in December
January 18, 2023
Harmonized inflation came in at 7.6% in December, down from November’s 8.8%.
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Cyprus: Harmonized inflation plunges to lowest level since March in December
January 18, 2023
Harmonized inflation dropped to 7.6% in December, following November’s 8.1%.
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