The current account data released across the region over the past week show that external positions have continued to improve in some countries (notably Turkey), while in others they are deteriorating and (in Romania’s case) look increasingly worrying. Otherwise, Turkey is a potential candidate to join the BRICS group, which holds its annual meeting next week. But we don’t think membership would provide significant economic benefits. Finally, we will be watching closely to see if there is any shift in Gaza ceasefire talks following Israel's killing of the Hamas political leader Yahya Sinwar.
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