HIGHLIGHTS
April 24 2023
Global Markets
Firmer than expected Eurozone PMI data for April helped the EUR/USD reapproach 1.10 earlier today, but strong PMIs also in the US prevented a break above that level, ahead of Q1 GDP figures for the US (Thursday) and the Eurozone (Friday).
Greece
According to ELSTAT’s 1st Notification on fiscal data, the 2022 primary fiscal balance was at 0.1% of GDP, significantly improved compared to an earlier forecast of α primary deficit of 1.6% of GDP (2023 Budget, Nov-22). S&P kept Greece’s rating unchanged at BB+ but revised the country’s outlook from stable to positive. In other news, the national elections will take place on May 21, 2023.
CESEE
In line with market expectations, fiscal deficits narrowed in 2022 in all eight EU CEE countries but Poland, according to the official fiscal balance numbers released by Eurostat on Friday.
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