Skyline at golden hour in Turkey

South-Eastern Europe Economic Forecast

South-Eastern Europe Economic Outlook

GDP will expand at a weaker pace this year. A slowdown in the Euro area economy, above-target inflation and tighter financing conditions will weigh on household spending, industry and the external sector. Tighter financing conditions will further hit domestic demand. Turkey’s elections and the performance of the Eurozone economy are key factors to watch.

South-Eastern Europe Inflation

Regional inflation declined to 31.4% in March from 34.5% in February. Price pressures fell in all countries except for Serbia. The sharpest decrease was recorded in Turkey on a high base effect. Regional inflation will ease further ahead thanks to stabilizing commodity prices and easing supply chain pressures. Falling inflation in heavyweight Turkey will be key.

This chart displays Economic Growth (GDP, ann. var. %) for South-Eastern Europe from 2010 to 2021.

2017 2018 2019 2020 2021
Economic Growth (GDP, ann. var. %) 6.1 3.4 2.0 -1.7 9.5
Private Consumption (ann. var. %) 5.8 2.6 2.3 -0.5 11.5
Fixed Investment (ann. var. %) 7.5 0.3 -3.3 3.8 7.3
Industrial Production (ann. var. %) 7.4 1.9 -1.1 -1.5 12.4
Unemployment (% of active population, aop) 12.2 11.6 12.5 12.2 11.2
Fiscal Balance (% of GDP) -1.0 -1.3 -2.0 -5.8 -4.1
Public Debt (% of GDP) 53.2 56.9 56.7 66.7 65.8
Inflation (CPI, ann. var. %, aop) 7.0 9.7 8.8 6.6 11.3
Policy Rate (%, eop) 6.22 16.69 8.54 11.31 9.37
Exchange Rate (LCU per USD, eop) 7.5 9.2 9.7 10.2 13.8

Free Sample Report

Interested in South-Eastern Europe economic reports, analysis and data? FocusEconomics provides data, forecasts and analysis for hundreds of countries and commodities. Request your free sample report now.

Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest