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Inflation in Eastern Europe will slow monetary easing

Location:

EASTERN EUROPE

The unexpected decision adds significant momentum to Central Europe’s monetary easing campaign, which began in May when Hungary’s National Bank (MNB) reduced its benchmark rate…

Sanctions will reduce Russia’s oil exports eventually

Location:

RUSSIA

In June 2022, Russia booked almost twice the revenue (USD20.4bn) from such exports. Declining oil income poses a serious challenge to the administration of President Vladimir…

Egypt's economy will stand on firmer ground

Location:

EGYPT

Its actions included floating the currency, which triggered a major devaluation, and a 600-basis point increase in its benchmark interest rate to 27.75%. Meanwhile, the government…

China’s economic model will evolve

Location:

CHINA

President Xi Jinping first used the concept on an inspection visit in Heilongjiang province in September 2023. The NPF concept recognises that China's existing growth model cannot…

Polish banks to stay stable despite Swiss-franc ruling

Location:

POLAND

Banks had hoped to share with borrowers the at-least USD5bn cost of making provision for Swiss franc mortgages. These mortgages were common prior to 2008, due to low interest…

Russia’s budget deficit may exceed official target

Location:

RUSSIA

The federal budget deficit target for 2023, set at RUB2.9tn (USD35.8bn), is likely to be exceeded for the second year in a row. Federal expenditure is showing no signs of slowing…

Pakistan faces long struggle to strengthen economy

Location:

PAKISTAN

The staff-level agreement on the package was announced on June 29, the day before an Extended Fund Facility (EFF) arrangement which Pakistan had with the IMF expired with around…

EU fiscal rule reform will raise member-state tensions

Location:

EU

Debt and deficit rules have failed. Fiscal policy has become a matter of negotiation between the Commission and EU countries, with the former's judgement mattering more than…

Green bond issuance will gradually grow in the Gulf

Location:

GULF STATES

Meanwhile, in the United Arab Emirates (UAE), a surge in green issuance from Emirati banks highlights the growth in a debt market that can help fund efforts to mitigate and adapt…

EU fiscal reforms will reinforce regional divergence

Location:

EU

Though parameters have changed and national starting positions are recognised more, the reforms are not extensive. Debt and deficit targets remain. Indebted countries, principally…