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GLOBAL & REGIONAL DAILY (Thursday 15 October, 2020)
GLOBAL & REGIONAL DAILY
HIGHLIGHTS
October 15 2020
Global Markets
Market focus is on the two-day EU Council meeting which begins today, with UK PM Boris Johnson awaiting its outcome to decide whether to continue trade talks with the EU or walk away without a deal. Meanwhile, Covid-19 cases are rising across Europe, with France’s PM Emmanuel Macron announcing a 9pm-6am curfew in Paris and eight other large cities. Demand for fixed income remains strong.
Greece
In its Fiscal Monitor Report (October 2020) released yesterday, the IMF foresees primary deficit of -6%-of-GDP in 2020, followed by a primary balance of 0%-of-GDP in 2021 and a primary surplus of 1.4%-of-GDP in 2022. On the pandemic front, the average daily cases for the week ended yesterday stood at 365, against 354 in the previous week.
CESEE
In the latest World Economic Outlook (WEO) released on Tuesday, the IMF kept its 2020 GDP forecast for Bulgaria at -4.0% revised upwards its 2020 GDP forecast for Serbia, expecting the economy to contract by -2.5%, against a -3.0% fall in April.
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