ALBANIA
Although it has lost steam, economic activity in Albania should continue to grow at a healthy pace over the next quarters, thanks to resilient private consumption and robust tourism activity
The high manufacturing capacity utilization rate bodes well for a rebound in investment as soon as macroeconomic conditions allow
The (albeit distant) prospect of EU membership should help strengthen the reform drive
EGYPT
Egypt’s downgrade by S&P and Moody’s corroborate the view that time is running out for authorities to enact necessary -- yet painful -- structural reforms
However, authorities will most likely delay any adjustment until after the December Presidential election
Risks to the economic outlook are further exacerbated by the uncertain geopolitical backdrop
APPENDIX:
DETAILED MACROECONOMIC DATA
REGIONAL SNAPSHOT: MACROECONOMIC INDICATORS & FINANCIAL MARKETS