Daily Overview of Global Markets & the SEE Region (Wednesday, November 22, 2017)

Banking, Finance, Markets, News, Reports, Shipfinance, Statistics, Stock Markets — By on November 22, 2017 at 11:45 AM

Dr. Platon , Monokroussos, Chief Market Economist, Deputy General Manager, Eurobank Ergasias S.A.,

HIGHLIGHTS

WORLD ECONOMIC & MARKET DEVELOPMENTS

GREECE: The 2018 State Budget that was submitted yesterday to Parliament foresees GDP growth of +1.6% for 2017 and +2.5% for 2018, in alignment with the European Commission Autumn Forecast. The primary surplus is expected to reach in Financial Facility terms 2.44% of GDP in 2017 and 3.82% in 2018 against the targets of 1.75% and 3.5% respectively. General Government Gross Debt is forecast at 178.2% and 179.8% of GDP for 2017 and 2018 respectively. Revenues from the privatisations programme are expected to reach EUR1.54 billion in 2017 and EUR 1.11 billion in 2018. According to the Balance of Travel Services data released yesterday by the Bank of Greece, in September 2017 travel receipts increased by 15.5%yoy while in January – September 2017, travel receipts increased by 10.3%yoy.

SOUTH EASTERN EUROPE

CESEE MARKETS: The majority of emerging market assets firmed earlier on Wednesday as the US dollar gave back some of its recent gains and global stocks rallied on optimism over world growth and corporate profits outlook.

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