HIGHLIGHTS
November 24 2022
Global Markets
Risk-on sentiment prevailed and the USD was broadly weaker amid increased expectations of a less aggressive pace of Fed rate hikes ahead. Elsewhere, oil prices dropped on reports suggesting that the EU is discussing capping Russian oil at $65-70/bbl.
Greece
The tourism sector is one of the major contributors to the post pandemic economic recovery of Greece. Tourist receipts continued their steep upward trajectory in September 2022, registering a value of €2.9bn in current prices, higher by 35.1% compared to September 2021 and lower by just 1.1% relative to September 2019.
CESEE
In its recent Transition Report, the EBRD sees downside risks to the 2022-2023 economic outlook for certain CESEE countries (Bulgaria, Hungary). These stem from an expected slowdown in eurozone exports, the potential of inflation to rise further and country-specific factors (e.g. the lingering political uncertainty in Bulgaria).
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