HIGHLIGHTS
January 24 2023
Global Markets
In spite of mounting worries over a potential US recession by the middle of the year, risk sentiment remains buoyant. Elsewhere, Brent crude oil closed above $88/bbl yesterday for the first time so far this year amid continued optimism surrounding China’s reopening.
Greece
The tourist sector, after the pandemic shock in 2020 and its partial rebound in 2021, supported strongly employment and incomes in 2022. According to the BoG, in Jan-22 to Nov-22, travel receipts -a major component of foreign demand for domestically produced services- reached 97.2% of their respective Jan-19 to Nov-19 level.
CESEE
Following Serbia’s markets tapping in the previous week, the Ministry of Finance proceeded yesterday with an additional issuance of 2-year bonds, raising RSD27.2bn. In Bulgaria, fears over delay of the euro adoption, caused by the lingering political crisis, were officially admitted.
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