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The Regions This Week
June 9, 2017 www.intellinews.com I Page 7
Southeast Europe
The EBRD approved a new strategy for Croatia,
setting out investment priorities for 2017-2021. The bank aims to support Croatia in achieving sustainable growth via support for private sector competitiveness, deepening financial markets and promoting commercialisation of public companies.
Macedonia recorded zero GDP growth in the first quarter. The figure was expected bearing in mind the lengthy political crisis in the country, but growth is expected to revive later in the year following the appointment of a new government.
Turkey will deploy additional troops to Qatar
under legislation ratified by President Recep Tayyip Erdogan. Turkey’s parliament swiftly passed the bill on June 7 after Erdogan criticised the move by several Arab nations to isolate Qatar, with which the Ankara government has good relations.
Kosovans will go to the polls on June 11 in an election that pits three parties headed by former KLA leaders – the PDK-AAK-Nisma coalition – against Prime Minister Isa Mustafa’s LDK and its coalition partners. Polls indicate PDK-AAK-Nisma will win by a significant margin.
Croatia’s Agrokor has secured €480mn worth of fresh financing from bondholders led by Knight- head Capital Management and domestic banks. Sberbank, the struggling retail and food giant’s largest creditor, previously attempted to block the new loan deal by filing a lawsuit with a Zagreb court but this was rejected.
Foreign investment in Serbia exceeded €1.9bn in 2016, Minister of Economy Goran Knezevic said. The government hopes to attract more investors by continuing to offer subsidies and providing a safe business environment.
The growth of Bulgarian retail sales decelerated sharply in April, slowing to 2.1% y/y from a 6.0%
y/y rise in March. The slowdown in growth was seen across the board in sales of food, non-food and fuel.
President Igor Dodon plans to ignore criticism of Moldova’s ongoing electoral reforms from the Venice Commission. The reforms are expected
to benefit Dodon’s Socialist Party and the ruling Democratic Party.
The High Court in Podgorica confirmed the indict- ments of two Montenegrin opposition leaders and several others suspected of plotting a coup aimed at seizing power after the October 2016 general election. Two Russians have been ac- cused of masterminding the plot.
The Croatian People’s Party is in coalition talks with the ruling Croatian Democratic Union (HDZ) after a spectacular U-turn. The liberal party’s presidency previously rejected plans for a coalition, prompting its leader Ivan Vrdoljak to stand down.
The biggest pharmacy chain in the Czech Republic and Slovakia, Dr. Max, is entering the Romanian market by acquiring Arta pharmacy chain and a drugs distributor. Currently the fast-expanding Romanian market is dominated by the Catena, Sensiblu and Dona pharmacy chains.
Lavdrim Muhaxheri, leader of the Kosovan Islamic State fighters, was killed in a US drone strike in Syria. About 300 Kosovo Albanians have joined IS since 2011, which is the highest number in per capita terms across Europe.
Turkey's calendar-adjusted retail sales volume index fell by 0.1% y/y in April after declining a revised 0.5% in March. The Turkish retail sales figures have delivered annual contractions for seven consecutive months since October despite the government introducing stimuli in the run-up to the April 16 referendum.