Southeastern Europe & Mediterranean Emerging Market Economies: Bi-Weekly Report 10 December 2024 - 6 January 2025

TÜRKIYE
Tight financing conditions and (still) high inflation lead to a  marginal contraction in economic activity for a 2nd consecutive quarter in Q3:24
Economic momentum is set to remain weak until mid-2025

NORTH MACEDONIA
Higher public consumption in the run-up and after the May Parliamentary election, together with reviving private consumption and the halt in the decline of gross capital formation, pushed GDP growth higher in 2024
Economic growth is set to firm to 3.1% in 2025, on stronger, more balanced, domestic demand 

CYPRUS
Real estate market continues to overperform, on the back of strong (mainly resident) demand
The residential market should eventually cool down, albeit moderately, in the medium-term, due to easing demand (mostly by foreigners), on the one hand, and increased supply, on the other hand 


APPENDIX:
DETAILED MACROECONOMIC DATA
REGIONAL SNAPSHOT:  
        MACROECONOMIC INDICATORS
        FINANCIAL MARKETS