Economic Snapshot for South-Eastern Europe
October 6, 2021
Economic growth in South-Eastern Europe seen picking up this year
After bouncing back this year from 2020’s pandemic-induced contraction, regional growth is forecast to slow notably next year. However, this will be chiefly due to a less favorable base effect, and looser domestic and foreign restrictions should keep aggregate demand healthy. Elevated fiscal shortfalls and debt burdens in certain countries cloud the outlook, however.
Inflationary pressures continue to build in South-Eastern Europe
Regional inflation continued its upward trend in August, rising to an over two-and-a-half-year high of 11.4% from 11.0% in July, amid a deteriorating price outlook in Turkey. Higher commodity prices, particularly for energy, and material shortages have pushed price pressures up recently. After firming this year, regional inflation should ease somewhat next year.
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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: Industrial output growth improves in August
October 14, 2021
Industrial output expanded 13.8% compared to the same month of the previous year in August, which followed July's 9.7% increase.
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Serbia: Inflation increases in September
October 12, 2021
Consumer prices rose 0.78% in September over the previous month, slowing down from August's 0.88% rise.
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Cyprus: Inflation cools in September
October 7, 2021
Consumer prices slid 0.06% in September, contrasting August’s 1.55% rise and falling for the first time since January.
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Turkey: Inflation hits over two-year high in September
October 6, 2021
Consumer prices increased 1.25% in September over the previous month, accelerating from August's 1.12% increase.
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Turkey: Lira slides to new record low as Central Bank delivers unexpected rate cut
October 4, 2021
The Turkish lira tumbled drastically at the close of Q3, reaching a new all-time low of TRY 8.92 per USD on 29 September.
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