HIGHLIGHTS
July 06 2022
Global Markets
The EUR weakened sharply against most of its major currency peers on the back of mounting worries over the risk of the Eurozone sliding into a recession.
Greece
According to the Economist Intelligence Unit, the real GDP growth rate for Greece in 2022 is expected at 4.0% (Eurozone: 2.2%) mainly as a result of the increased tourism revenues and the investments originating from the EU Recovery Funds and despite the inflationary pressures from food and energy prices.
CESEE
In Cyprus, the recovery in real estate prices continued in Q1 2022, driven mainly by domestic demand. More specifically, the residential property price index expanded by 1.1% QoQ / 3.2% YoY compared to 1.3% QoQ / 2.6% YoY in Q4 2021 and 0.6% QoQ / 1.2% YoY in Q3 2021.
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