WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: Taking their cue from weaker Asian bourses, European stock markets opened on the back foot on Friday as OPEC’s decision to stay put in production weighed down on oil-related shares. In the FX markets, the dollar regained ground on Friday, while the euro came under renewed pressure after consumer inflation for Eurozone eased back to a 5-year low in November.
SOUTH EASTERN EUROPE
SERBIA: Speaking to journalists on Thursday, Prime Minister Aleksandar Vučić said that the 2015 Budget Draft will be presented in the Parliament on December 10th, five days before the parliamentary approval deadline.
ROMANIA: The government ran a consolidated budget surplus of RON 2bn (or 0.3% of GDP) over the first ten months of the year, well above a deficit target of 2.2%-of-GDP for the whole of the year.
BULGARIA: According to the 2015 budget draft, the government pencils in a general government deficit of 3.0% of GDP next year, and respective shortfalls of 2.5% and 2.0% of GDP in in 2016 and 2017, vs. a revised deficit target of 3.7% of GDP this year.
CESEE MARKETS: Tracking losses in major European and Asian bourses on Friday, the majority of emerging stock markets fell, led by weaker energy shares. Separately, CESEE indices were little changed earlier on Friday. While in the local rates markets, government bonds were mixed.
Viewers can read the full report herebelow: