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Economic Indicators Bulletin for SEE - July 2015

  • In Albania, economic activity picked up in 2015Q1 as real GDP increased to 2.8% from 2.4% in 2014Q4 and 0.7% in 2014Q1. The main sectors that positively contributed to economic activity are investments and exports.
  • In Bulgaria, non-performing loans as a share of total loans increased to 18.7% in June compared to 17.6% in the same month last year.
  • In Cyprus, non-performing loans as a share of total loans were 45.76% in May compared to 46.57% in April and 47.49% in 2014, with the levels of NPLs in firms and households being particularly high.
  • In Romania, non-performing loans as a share of total loans declined to 13.65% in May from 14.51% in the same month last year.
  • In July, S&P and Fitch Ratings affirmed Serbia’s rating at BB- and B+ respectively. The main factors driving the affirmation were the successful on-going fiscal consolidation and structural reforms, as well as the expectation of a further FDI increase.

        

Ilias Lekkos

Group Chief Economist

                                                                                                                   

Dimitria Rotsika

Economist