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Industrial price inflation peaked at over 50% y/y in July-August then fell as prices of energy and food moderated.
Romanian construction companies’ gross output surged by nearly 22% y/y in the last quarter of 2022.
Industrial activity was particularly subdued in energy-intensive sectors such as metals and chemicals.
Central bank expects further disinflation this year with the inflation rate set to return to the target band in Q2 2024.
The National Bank of Moldova slashed by 3pp to 17% the monetary policy rate, announcing expectations for quick disinflation throughout this year and hopes for the annual inflation to enter the target band (5% +/-1.5pp) in the second quarter of 2024.
The downward trend is the result of low value-added activities outsourced by foreign industrial groups combined with the lowest innovation in Europe among local enterprises.
The central bank expects the annual inflation to ease slightly during the first quarter of this year.
Romania’s foreign trade deficit rose by 21% y/y to €2.59bn in November, bringing the trade gap in the previous 12 months to €33.3bn or 12.1% of GDP.
Retail sales increased by 4.5% y/y in October, but the growth was mainly driven by the 15.6% y/y surge in fuel sales.
Multiple uncertainties related to the war in Ukraine, inflation, energy supply and the prospects of EU accession have created frustration among Moldova's population.
Moldova’s trade balance came under strong pressure from high energy prices and the poor harvest.
The number of passengers Turkish Airlines (THY) carried in June rose by 13% y/y to 5.72mn, following the 8% annual growth experienced in April and 5% in May
The level of footfall in Russian shopping malls has continued its 2016 recovery, with volumes of mall visits in all but four weeks of this year marking a year-on-year increase in comparison to 2015.
Igor Kim, CEO of Expobank, does not expect Russian retail banking to be profitable for another two years, but is interested in buying up more banking assets in the meantime.
The importance of religious faith among Russians has grown significantly since the collapse of the Soviet Union, a poll by Moscow-based WCIOM has found.
Of the eight European countries above the EU threshold for unsustainable debt of 90% of GDP in 2015, not one was an emerging economy.
Falling inflation has lifted Russian real incomes back into the black, coupled with high interest rates, that has lead more Russians to pay off their debts early. Russian consumers are rapidly deleveraging and that will be good for growth this year.
A report by the Paris-based Reporters Without Borders (RSF) has shown that press freedom in Central and Eastern Europe and the Commonwealth of Independent States (CEE/CIS) has mostly deteriorated in the last 12 months.
A fivefold decrease in capital outflows has eased the pressure on Russia's balance of payments.