HIGHLIGHTS
August 21 2023
Global Markets
Ahead of the Fed Chair Powell’s speech at the Jackson Hole symposium on Friday, global risk-off sentiment prevailed earlier today, 10-yr UST yields opened higher, standing, though, still below last Thursday’s ten-month highs and oil prices were firmer, recovering part of losses recorded late last week amid growth concerns over China.
Greece
According to the Jan-Jul-23 State Budget Execution preliminary data, the overall fiscal balance posted a deficit of €1.44bn, improved by 38.0% compared to the respective 2023 Budget monthly target. The primary fiscal balance recorded a surplus of €3.56bn, improved by 94.3% compared to the target.
CESEE
Inflation in Bulgaria continues to move on a downward trend, following the latest July’s print. CPI came in at 8.5%YoY from 8.7%YoY in June. Modest optimism is also spurred from the Q2 flash GDP as it expanded by 0.4%QoQ in seasonally adjusted terms, the same pace with Q1.
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