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As Russia's invasion of Ukraine is sending shock waves across Europe, Southeast Europe (SEE) is bracing up to bear the brunt of the economic, financial, and security consequences. The countries in the region are heavily reliant on Russian gas and for most of them Russia is a major trading partner and investor. For tourism-dependent Bulgaria, Croatia and Montenegro, it is also key feeder market. The sanctions on Russia and the indirect consequences of higher energy and raw material prices and supply chain disruptions are expected to impact businesses across the board, curbing production, further fuelling inflation and slowing down recovery. The onset of the Russian assault sent the regional stocks into a sharp fall, flights to and from Russia were discontinued, Moldova and Serbia suspended wheat exports, and Sberbank exited SEE. Stay with us for daily updates on how the war in Ukraine affects companies in SEE, how local markets react and what steps governments take to cushion the blow.
  TODAY'S HEADLINES  


EC makes available 1.43 bln euro to Romania, Croatia for green investments
BUCHAREST (Romania), June 8 (SeeNews) - The European Commission said on Wednesday it is granting 1.43 billion euro ($1.53 billion) to Romania and Croatia to help modernise their energy systems, cut greenhouse gas emissions and support them in meeting their 2030 climate and energy targets.    

Bulgaria's energy regulator cuts f'cast on avg heating price hike
SOFIA (Bulgaria), June 8 (SeeNews) - Bulgaria's energy regulator said that it expects the average price of heating energy for households to rise by 26% from July 1 instead of the 39.26% increase forecast last month, on the back of the government's package of anti-crisis measures planned as part of the upcoming budget revision.    

Erste lifts f'cast for Romania's 2022 GDP growth to 5.1%
BUCHAREST (Romania), June 8 (SeeNews) - Erste Group analysts said on Wednesday they are lifting their forecast for Romania's economic growth this year to 5.1%, from 2.8% estimated in March.    

Bulgaria gets first shipment of LNG from US - report
SOFIA (Bulgaria), June 8 (SeeNews) - The first tanker delivering liquefied natural gas (LNG) from the US to Bulgaria has arrived, the country's public TV broadcaster BNT reported.    

Bulgaria's GDP growth to slow down to 2.6% in 2022 - World Bank
SOFIA (Bulgaria), June 8 (SeeNews) - Bulgaria's real gross domestic product (GDP) is expected to expand by 2.6% in 2022, the World Bank said on Wednesday, revising downwards its January forecast by 1.2 percentage points in line with a more pessimistic view of the global economy as a consequence of the ongoing war in Ukraine.    
 
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