GlobalSource Partners | Country Insights

Following a short period of weakening on external factors, which we dealt with in our previous note two days ago, the forint gained strength again yesterday, after a 'rumour' reported by Bloomberg that afternoon. The news was that at the next rate-setting meeting on September 22, the Monetary Cou...

Economic growth remains sluggish in July

RUSSIA ECONOMICS · In Brief · 03 Sep 2026

Recent economic data came as no surprise. After Rosstat reported a 0.6% y-o-y GDP increase in 1H26, it noted that in July the combined output of the five basic sectors (industry, agriculture, construction, transportation, and trade) grew by 0.8% y-o-y, bringing growth for 7M26 to just 0.1% y-o-y....

Peso strengthens, amid solid growth, persistent inflation and tighter financial conditions

DOMINICAN REPUBLIC · Report · 03 Sep 2026

Economic activity remained resilient in July, expanding by 4.6% y/y and bringing cumulative January-July growth to 4.5%. But the policy environment has shifted considerably since 2025. Headline inflation eased to 5.47% in July, but remained above the Central Bank's target range, while core inflat...

August inflation: more of the same

TURKEY · Report · 03 Sep 2026

Consumer prices rose by 1.8% m/m in August, slightly below median expectations, with the annual CPI inflation edging down slightly to 31.5% from 31.8% in July. Domestic PPI increased by 2.6% m/m in August, raising the 12-month PPI inflation rate slightly to just under 30% (27.9%) from 27.8% in Ju...

Pressure on the STF continues to build, Alcolumbre will meet with party leaders to discuss impeachment requests against Justice de Moraes, and the government secured important advances in Congress

BRAZIL POLITICS · Report · 03 Sep 2026

New information about Brazil’s Supreme Federal Court (STF) has emerged, further increasing pressure on the Court. Justice André Mendonça, the justice overseeing the Banco Master case before the STF, met with Daniel Vorcaro without the Federal Police present. Today, Senate President Davi Alcolumbr...

Russia: a brief market watch

RUSSIA ECONOMICS · In Brief · 02 Sep 2026

The USD/RUB continued to slide in recent weeks, having surpassed the 87 mark and moving closer to 88. Generally the FX market entered a period of correction that followed months of an unhealthy appreciation of the currency amid increased oil prices and their high volatility The recent ruble depre...

New evidence from the Vorcaro case was presented by the Federal Police, the opposition filed impeachment requests against Justice Moraes, and the Joint Committee may vote on the so-called “blouse tax”

BRAZIL POLITICS · Report · 02 Sep 2026

Supreme Federal Court (STF) Justice André Mendonça, who is overseeing the investigations into fraud involving Banco Master, suggested in a decision released on Tuesday (September 1) that new evidence presented by the Federal Police (PF) in the case be reviewed by the full Court. Mendonça lifted t...

Fiscal predicament even worse than expected

COLOMBIA · Report · 02 Sep 2026 · 1 response

Finance Minister Miguel Gómez’s presentation of the 2027 budget has brought Colombia’s fiscal predicament into sharper focus. The budget confirms that the fiscal situation inherited from the Gustavo Petro administration was significantly worse than previously acknowledged. The NCG deficit is now ...

Seeking security!

CHILE · Report · 02 Sep 2026

Q2 national accounts reinforced the loss of momentum in activity so far in 2026. Both total and non-mining GDP remained broadly stagnant in H1. We have therefore revised our 2026 GDP growth forecast down to 0.5%. Nonetheless, we remain relatively optimistic about 2027. High copper prices conti...

Most recent forint weakening is entirely due to external factors

HUNGARY · In Brief · 02 Sep 2026

The forint's weakening against EUR and USD, seen so far this week, does not really point in the direction of another base rate cut in September. But it is important to know that it can be traced back entirely to external factors, such as Russia/Ukraine, the Middle East, global energy prices and a...

From refineries to airspace: Russia's war enters a new phase of escalation

UKRAINE · In Brief · 02 Sep 2026

The war is clearly entering a new phase of escalation. Widely discussed and widely expected, it is now unfolding in real time. Zelenskiy's statement on September 1 that Russian airspace will effectively be closing marks a new level of pressure on Moscow and St Petersburg — one that the Russian le...

Bank of Israel cuts rates to 3.25% in a somewhat unexpected move

ISRAEL · In Brief · 02 Sep 2026 · 1 response

The Bank of Israel cut its policy rate by 25bp to 3.25%, its third consecutive rate cut. The decision was somewhat surprising. As we noted ahead of the meeting, when the decision when the decision is not clear-cut, the Bank of Israel has generally tended to err on the side of caution. This time, ...

Essential CIS Politics: August 19 - September 1, 2026

CIS POLITICS · Report · 01 Sep 2026

Key stories: * Russia advanced about 200 square kilometers overall, but a Ukrainian counterattack near Slavyansk rolled back the northern flank. * Ukraine steps up forced mobilization: the Army still needs at least 30,000 recruits a month. * Ukrainian drones set fire to Ozon warehous...

Reality knocks at the door

BRAZIL ECONOMICS · Report · 01 Sep 2026

GDP grew 0.5% in the second quarter, well below the figure recorded in the first quarter of 2026, although slightly better than the average forecast of 0.4%, suggesting an economic slowdown, a theme to which we had drawn attention in our most recent reports. In recent quarters, the economy has...

The government 2027-2029 economic outlook and budget plan suggests steady GDP growth in the years ahead

KAZAKHSTAN · In Brief · 01 Sep 2026

The Kazakh government has released its macroeconomic forecast for 2027-2029, along with aggregate republican budget figures and some data tied to the consolidated budget. Overall, the outlook seems reasonable, though the baseline scenario may be a bit optimistic, projecting steady GDP growth of 5...