CEE Market Insights Yields drifting up at the year-end

Erste Group
By January 10, 2020 10:03

CEE Market Insights Yields drifting up at the year-end

We wish all our readers Merry Christmas and a Happy New Year 2020. The next CEE Insights will be released on January 7. We now switch to holiday mood, as the macro release calendar will be pretty empty in the coming two weeks. On Sunday, the first round of the presidential election will take place in Croatia. As the race is tight, a second round will most likely take place. In Serbia and Croatia, industrial production and retail sales data for November are due before year-end. In Croatia, retail sales should maintain solid dynamics of around 3% y/y, while industrial production should continue its mild recovery. On the other hand, in Serbia strong wage growth, low inflation and favorable credit conditions support retail sales and we expect to see a double-digit growth figure. In Romania, the government approved next year’s budget act with a deficit of 3.6% of GDP. The budget act should be approved by the parliament by the end of the year, as the government has requested a fast processing track. However, as no strong consolidation measures were undertaken and the deficit will remain well above 3% in 2021, the EU is likely to put Romania under the Excessive Deficit Procedure in 2Q20. 

Erste Group
By January 10, 2020 10:03

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