Data
Russia's CBR keeps interest flat on geopolitical tensions
The Board of the Central Bank of Russia has resolved to maintain the key interest rate flat at 4.25% in its policy meeting of September 18. The economy is doing well, but geopolitical tensions are rising
Hungary's domestic tourists save the day for embattled sector
Hungary’s tourism sector was on track for another record year in 2020 before the pandemic hit the country, plunging it into a critical situation overnight.
Romania’s construction sector shows strong growth in 7M20 despite pandemic
Construction, one of only two economic sectors in Romania that made a positive contribution to GDP growth in Q2, maintained a robust, double-digit annual growth rate in July.
Russia industrial production fall slows to -7.2% in August y/y
In August, Russian industrial production posted a 7.2% y/y decline. August brought the 8M20 dynamic to -4.5% y/y.
Moldova’s GDP shrinks by 14% y/y in Q2
Sharp contractions in both industry and services to households. No sector posted positive growth during the quarter.
Coronacrisis cost Serbia equivalent of 510,000 jobs
The COVID-19 pandemic led to a decline in working hours equivalent to 510,000 full-time jobs in the second half of 2020, finds a study by the EBRD and ILO.
Retail sales dropped 8.3% y/y in Albania in 2Q20
Albania was under a strict lockdown for the first month of the quarter, with many non-essential businesses closed, and restrictions were gradually lifted during May and June.
Romania’s current account gap narrows as an upside effect of crisis
Romania’s current account balance narrowed to €4.86bn in January-July, down 19.5% y/y. The correction is related to the effects of the crisis: fewer holidays abroad and lower dividends.
Turkey’s industrial production now stands only 1.6% below February peak
However, slowing of credit expansion necessitated by latest difficulties of lira may hinder recovery.
Croatian tourist activity just over half of 2019 level in July
Croatia recorded 2.2mn tourist arrivals and 14.7mn tourist nights — a better performance than expected when the pandemic hit but still considerably down on 2019 figures.
What Belarus’ neighbours think about the revolution
With Belarus in uproar a new front in the geopolitical showdown between east and west has been opened. But really it's the people who live next door to Belarus – Ukraine, Poland and Lithuania – that matter the most
Lithuania’s exports decreased by 8.2%, imports by 13.6% y/y in 1H20
Lithuania’s exports amounted to €2.33bn and imports to €2.50bn in July.
Ukraine's consumer inflation in August reaches 2.5% y/y
Ukraine’s consumer inflation increased to 2.5% year on year in August from 2.4% y/y in the prior month, the State Statistics Service reported on September 9.
Romania remains EU’s laggard by VAT gap
Romania posted the highest national relative VAT gap in the European Union in 2018, with 33.8% of its potential VAT revenues going missing.
Bulgaria’s industrial production falls 6% y/y in July
Poor performances in the mining, manufacturing and utilities sector all contributed to dragging down industrial production.
Half of Ukrainians want to restore relations with Donbas
Half of Ukrainians (53%) want relations with the Donbas restored and see the local population as victims, according to a poll conducted by KIIS.
Romania’s exports return to pre-crisis slow deceleration path
Romania's exports contracted by 5.1% y/y in July, to €5.55bn: the best performance since the coronavirus pandemic hit global trade in March. But the pre-crisis path was far from bullish.
Slovenia posts second highest monthly trade surplus in 10 years
Slovenia’s exports amounted to over €2.9bn in July, down 2.9% year on year while imports declined 10.9% y/y to €2.7bn.
Albania’s annual CPI inflation slows slightly to 1.3% in August
Central bank governor Gent Sejko says the current monetary conditions provide the necessary stimulus to encourage economic growth and for the return of inflation close to the target of 3% by 2022.
_Cropped_0.jpg)
Romania’s statistics office confirms 10.5% GDP decline in Q2
The decline was softer than expected, while sentiment: short term indicators such as industrial production and retail sales point to a quick resumption of activity while health risks remain high.