Southeastern Europe & Mediterranean Emerging Market Economies: Bi-Weekly Report 23 August - 5 September 2022

TÜRKIYE
GDP growth remained resilient in Q2:22 (up 7.6% y-o-y), thanks to strong monetary policy support
The outlook for the remainder of the year appears bleak, reflecting the implications of weakening TRY and skyrocketing inflation


BULGARIA
Higher global energy prices have kept the current account deficit under pressure since the beginning of the year
Tourism activity has rebounded so far in 2022, yet remaining below its pre-COVID-19 level 


EGYPT
A sizeable FX financing gap points to further depreciation of the EGP    

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