Russia’s CBR maintains key rate at 21% after putting brakes on lending
1 day ago
Romania’s economy expanded by 0.9% year on year in 2024 (chart), after posting a 0.7% y/y increase in Q4, according to a flash estimate from the national statistics office.
Seasonally and workday-adjusted GDP rose 0.8% quarter on quarter in Q4, the strongest quarterly growth since Q2 2023, marking a modest recovery after four years of near-stagnation.
The 2024 GDP estimate aligns with consensus expectations but falls far short of the 3.4% y/y growth initially projected by the government when drafting the 2024 budget. Weaker-than-expected economic performance partly contributed to the fiscal deficit widening to 8.65% of GDP, well above the 5% target, though the slippage was primarily due to higher public spending.
For 2025, the government forecasts 2.5% GDP growth, driven by all sectors, though industry is expected to contribute less. Gross fixed capital formation is projected to strengthen to +5.9% y/y (from +2.1% y/y in 2024), while private consumption is set to slow to +2.5% y/y, down from +5.4% y/y in Q4 2024.
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Russia’s CBR maintains key rate at 21% after putting brakes on lending
The board of the Central Bank of Russia (CBR) at the policy meeting of February 14 resolved to keep the key interest rate at 21%. As followed by bne IntelliNews, this is in line with expectations.
Romania’s industrial output contracts 1.6% y/y in 2024 despite Q4 rebound
Utilities sector weighed on overall performance, while food manufacturing, chemicals and oil refining bucked the negative trend.
Azerbaijan's energy production stable as investments in Shah Deniz and ACG continue
Azerbaijan's energy sector maintained steady production in 2024, with significant investments directed toward the Shah Deniz gas-condensate field and the Azeri-Chirag-Gunashli oil and gas block, according to BP report.
EU has continued to buy Russian fertilizer throughout war – Statista
The Center for European Policy Analysis (CEPA) has called for increased economic pressure on Russia as well as secondary sanctions on companies supporting its war efforts in a new report, released February 11.
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