Romania: Fiscal consolidation and diversification of sources
Gross borrowing needs are rising modestly, with lower net ROMGB issuance and strong retail bond demand helping ease pressure on local markets
Turkey: More reliance on local funding
With rate cuts from the Central Bank of Turkey and the maturity calendar, we expect issuance to be concentrated in the middle of the year
Credit Supply Outlook 2025: Our forecasts
Our 2025 supply forecasts are certainly a mixed bag, but it is clear there is mostly a trend towards higher supply
