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The Russian economy is showing signs of recovery in the first quarter of this year, as the rate of decline in industrial production slows, according to Rosstat data released on March 29.
Eurostat report shows Romania experienced four years of industrial decline after COVID-19 pandemic struck, following years of sluggish growth.
The Eurasian Development Bank (EDB) plans to invest at least $400mn in water and energy infrastructure in Central Asia over the next three years in an effort to boost economic growth and improve food security.
Monetary Council keeps base rate on hold at 13.00%.
Foreign companies that want to exit Russia will have to pay 5%-10% of their value to the state budget as a form of “exit tax,” said MinFin, as the share of foreigner holding of federal treasury bonds has fallen by over RUB1 trillion.
Russian investment bank BCS has upgraded the Russian equity market to a “buy” with a 45% upside for 2023, the bank said in a note on March 27.
Russia’s federal budget deficit for the first ten days of March has already exceeded the planned RUB2.9bn for the entire year of 2023, Russian Prime Minister Mikhail Mishustin admitted on March 24.
Romania’s GDP per capita soars to 77% of EU average, up from just 57% in 2012.
South Africa declares a state of disaster as it grapples with a severe energy crisis that has far-reaching impacts on its economy and society. The country's coal-fired power plants, which generate 95% of its electricity, fail to provide enough power.
Country’s banking system assessed as in strongest position it has been in for many years, but vulnerabilities “could be exposed if concerns about the global banking system were to escalate”.
Chinese President Xi Jinping took his leave of Russian President Vladimir Putin from a two-day visit to Moscow with a smile on his face. But despite the important show of solidarity, Putin got little in concrete terms from the Chinese leader.
The Georgian economy has bounced back fast from the series of sharp shocks of recent years, and rather than being dragged down by the polycrisis that has been unfolding.
For the past six months, the US Fed has been fighting inflation by jacking up interest rates and tightening money supply to fight inflation. This author, and others, predicted that “something will break”. Something did break: SVB
PM Ana Brnabic says Serbia must become a leader in AI to achieve fast and dynamic economic growth in future.
Fall deepens dramatically after a decline of 0.3% y/y the preceding month.
Putin took time out from meetings with Chinese President Xi Jinping who had just arrived in Moscow for a three-day state visit to speak to lawmakers from more than 40 African countries and woo them with generous promises of economic and military aid
Consumer price inflation dropped from nearly 35% y/y in October to under 25% y/y in February and the BNM expects it to drop down to 6.6% by the end of the year.
Romania’s fiscal policy continues to consolidate and borrowing needs are at a record high due to the heavy maturity calendar. However, net issuance of ROMGBs is almost the same as last year. Romania is the region's leader with 44% of planned bonds.
The February fall is the first since May 2020 and was more than 2pp below the consensus line.