WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: The ECB meets today with the majority of market participants expecting the Central Bank to stay put on interest rates and keep QE operational modalities unchanged. Focus will be on the post-meeting press conference where President Mario Draghi is anticipated to adopt once again a dovish tone.
GREECE: Discussions between the Greek government and the heads of inspector teams representing Greece’s official lenders will continue today for the second session in a row focusing on the pending prior actions required for the release of the next ESM loan disbursement (€2bn)./ The current account balance recorded a surplus of €2, 090.7mn in August 2015 marking an improvement by €248.6mn on an annual basis due to an increase in the goods, income and current transfers balance by €381.1mn, €95.6mn and €11.4mn respectively.
SOUTH EASTERN EUROPE
BULGARIA: According to the final data released by the NSI, the general government deficit in ESA 2010 terms was revised heavily upwards by BGN2.5bn or 3.1% of GDP in 2014. As a result, the general government deficit now stands at 5.8% of GDP in 2014 up from 0.8% in 2013.
ROMANIA: The finance ministry sold at an auction on Wednesday a €2bn dual tranche of 10- and 20-year Eurobonds, meeting the government’s external debt target issuance for 2015.
SERBIA: The Ministry of Finance sold at an auction on Wednesday ca RSD 7.072bn (~€59mn) worth of 2-year floating rate notes.
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