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Economic Indicators Bulletin for Southeastern Europe - January 2016

In Albania, credit expansion in November contracted by 2.4% YoY compared to an increase of 3.5% in November 2014, while deposits increased by 1.8% YoY from 0.4% for the same months.

In Bulgaria, credit expansion in 2015 contracted at a slower rate of 1.6% of GDP compared to -8.2% in 2014, whereas deposits recovered, posting an increase of 7.4% YoY from 0.4% for the same years.

In Cyprus, credit expansion contracted by 3.2% YoY in 2015 compared to a decrease of 2.0% in 2014, whereas deposits improved significantly as the annual growth rate posted a positive figure of 0.2% from -4.1% for the same years.

In Romania, credit expansion improved significantly recording an increase of 3.0% YoY in 2015 compared to a contraction of 3.3% YoY in 2014, while deposits increased marginally to 8.6% from 8.2% for the same years.

In Serbia, credit expansion improved in 2015 as the annual growth rate reached 3.2% compared to 0.6% in 2014, whereas deposits decelerated to 6.7% YoY from 9.5% in the same years.



Ilias Lekkos
Chief Economist
Dimitria Rotsika
Economist