Romania may set a goal of joining the eurozone in 2032, provided that public finances stabilize and the country meets the criteria for the monetary union, said Dragos Pislaru, the country’s acting minister of investment and European projects.
The statement was made in an interview with the Romanian television channel TVR Info. However, 2032 is not yet an officially approved date for Romania’s transition to the euro, but is viewed by Pislaru as a possible target.
According to the minister, the country’s top priority should be fiscal and budgetary consolidation and bringing public finances to a stable state by 2030.
“The goal is to put our finances in order by 2030. Therefore, I see an opportunity to align several objectives: fiscal and budgetary consolidation and the adoption of a coordinated national development plan for 2028–2034,” Pislaru stated.
He also emphasized the need for political stability, which would allow the government to consistently implement such a plan. Once Romania has achieved the necessary macroeconomic indicators, it will need to go through the phase of participating in the European Exchange Rate Mechanism II (ERM II).
“Romania could, say, join in 2030 plus two years, because two years must be spent in the waiting room. This is a monitoring period. The year 2032 could be an important target for joining the eurozone,” the minister noted.
Currently, Romania does not yet meet the key criteria for adopting the euro. According to the European Central Bank’s convergence report published in June 2026, the country is not participating in ERM II. To meet the exchange rate criterion, a country must remain in this mechanism for at least two years without significant fluctuations or devaluation of its currency against the euro.
Inflation also remains a significant problem. The 12-month average harmonized inflation rate in Romania as of May 2026 stood at 8.4%, while the reference level for joining the eurozone was 2.7%. The average long-term interest rate was 6.7%, compared to the maximum permissible level of 5.1% for this criterion.
In addition, Romania is continuing the process of reducing its excessive budget deficit. The EU has set a trajectory for Bucharest that should allow it to eliminate the excessive deficit by 2030. The European Commission projected that the deficit would be reduced to 6.2% of GDP in 2026 and 5.8% in 2027. Public debt, on the other hand, is projected to rise to 63.4% of GDP in 2027.
Thus, the scenario for adopting the euro in 2032 envisages a significant reduction in the budget deficit and inflation, stabilization of public debt, entry into ERM II, and at least a two-year stay in this mechanism before final accession to the eurozone.
Prices for housing in Turkey in July 2026 rose by an average of 23.3% in local currency compared to last year; however, high inflation completely offset this increase: in real terms, real estate prices fell by 6.6%, according to the July market review by the platforms Emlakjet and Endeksa. The data was published on August 14.
The average price per square meter of housing nationwide reached 41,700 Turkish lira, or approximately $871, while the average price of a property sold was 5.21 million lira, which corresponds to approximately $109,000.
At the same time, July saw the first small positive sign in short-term trends: prices rose by 1.9% in nominal terms over the month and by approximately 0.5% when adjusted for inflation. However, one month is not yet enough to speak of a sustained recovery in the real value of Turkish housing.
Ankara’s Prices Are Rising Faster Than Istanbul’s and Antalya’s
Among the 30 provinces with the highest number of transactions, the most notable growth was recorded in Ordu—32.4% over the year. This is the only province among those analyzed where growth was positive even after adjusting for inflation—about 0.4%.
Ankara ranks second with a nominal increase of 28.7%, although in real terms, housing in the capital became approximately 2.5% cheaper. Next are Kocaeli—up 28.5%, Denizli—27.1%, and Elazığ—26.9%.
In Istanbul, a square meter of housing cost an average of 65,100 liras in July, and the average price of a property was about 7.16 million liras, or $149,500.
In Antalya, one of the main markets for foreign buyers, the average price per square meter reached 55,500 lira, and the average price per property was about 6.1 million lira, or $127,500. In Izmir, the average price was about 54,000 lira per square meter and 6.48 million lira per property.
Muğla remains Turkey’s most expensive province, home to resort centers such as Bodrum and Marmaris. Here, the average price per square meter reached 87,200 lira, and the average price per property was 11.34 million lira, or nearly $237,000. This is more than double the national average.
Housing sales have fallen sharply
The rise in prices is occurring against the backdrop of a significant decline in the number of transactions. According to the Turkish Statistical Institute (TÜİK), statistics on residential and commercial real estate sales for July were published on August 13, 2026. A total of 123,603 residential properties were sold nationwide during the month, which is approximately 17% less than a year earlier.
Istanbul remained the largest market with 22,600 transactions, followed by Ankara with 9,640, Izmir—6,550, and Antalya—6,300.
At the same time, the sales breakdown sends mixed signals. The number of mortgage transactions rose by 23.7%, while sales of new homes fell by 8.6% and those of existing homes dropped by as much as 20.8%. This may indicate a gradual return to the market of some buyers who are able to take advantage of bank financing.
Thus, the rise in the value of Turkish real estate in lira remains, to a large extent, a consequence of inflation. For investors, it is more important to pay attention not only to nominal growth of 20–30%, but also to real price trends, exchange rates, and rental yields. As of the end of July, the average property in Turkey is nominally significantly more expensive than a year ago; however, its real value continues to decline.
Open4Business recently conducted a separate analysis of the composition of foreign buyers of Turkish real estate. As of June 2026, Russian citizens ranked first with 381 purchases, while Ukrainians acquired 170 properties and tied for second place with Iranian citizens. In total, foreigners purchased 2,015 residential properties in June. From January through June, foreign demand totaled 9,083 properties, down 9.2% from the previous year.
Ukrainians remain one of the largest groups of homebuyers in Turkey, even over the long term. In 2025, Ukrainian citizens purchased 1,541 properties and ranked third among foreign buyers, trailing only Russians and Iranians. Thus, the decline in real prices for Turkish housing is of direct interest to Ukrainian private investors, who continue to maintain an active presence in this market.
Pharmaceutical products, medical goods and equipment in Ukraine cost an average of 2.9% less in July 2026 than a year earlier, while outpatient medical services increased in price by 13.3%, according to data from the State Statistics Service.
Overall, the healthcare category rose in price by only 2.2% over the year, significantly slower than the general consumer inflation rate of 7.7%. Prices in this group increased by 0.6% in July.
Pharmaceutical products, medical goods and equipment became 0.9% cheaper from the beginning of 2026. In July, however, this category rose in price by 0.6% compared with June.
Outpatient services, by contrast, increased in price by 0.8% over the month, by 8.3% from the beginning of the year and by 13.3% year-on-year. On average, they cost 13.6% more in January–July than during the same period of 2025.
Thus, a noticeable gap can be observed within the medical segment between the price dynamics of medical goods and those of services themselves.
In July 2026, prices for clothing and footwear in Ukraine fell by 4.8% compared to June and by 5.6% compared to July of last year, according to data from the State Statistics Service. Clothing prices fell by 5.8% over the month and by 5.4% year-over-year. Footwear prices fell by 3.5% and 6.1%, respectively.
Compared to December 2025, the entire “clothing and footwear” category fell in price by 4.5%, including clothing by 6.5% and footwear by 2%.
In January–July 2026, prices for clothing and footwear were, on average, 5.5% lower than during the same period in 2025. At the same time, the overall consumer price index rose by 7.8% over these two periods.
Clothing and footwear thus remain one of the largest categories in the consumer basket where the State Statistics Service has recorded price declines amid overall inflation.
CLOTHING, footwear, INFLATION, PRICE, State Statistics Service
Transportation prices in Ukraine in July 2026 were 18.6% higher than a year earlier, according to data from the State Statistics Service. In just one month, transportation prices rose by 1.3%. The most significant increase was recorded in passenger road transportation—up 6% in July and 30.8% compared to July 2025.
Overall, transportation services rose in price by 28.9% over the year and by 25.7% since the beginning of 2026. Passenger rail transportation became 2.7% more expensive over the month and 15.5% more expensive over the year.
Another significant factor remains the cost of fuel. In July, fuel and lubricants became 0.1% cheaper compared to June; however, compared to July of last year, they were 28% more expensive, and since the beginning of the year—26.5% more expensive.
Thus, transportation costs are rising significantly faster than the overall consumer market: annual inflation in Ukraine stood at 7.7% in July, while transportation inflation was 18.6% and transportation services inflation was 28.9%.
According to Fixygen, the cryptocurrency market ended last week mostly on an uptrend: Bitcoin rebounded from its early August decline and once again tested the $65,000 mark, while Ethereum and most of the major altcoins also gained ground. The exception among the leading cryptocurrencies was XRP, which lost about 5% over the week.
As of the morning of August 10, Bitcoin was trading at around $65,200 and had risen by approximately 3.7% over the past seven days, according to CoinDesk data. On Monday, the price fell back below $65,000—to around $64,500–$64,700. As of August 7, BTC was up 3.1% for the week, heading toward its first weekly gain in three weeks.
Ethereum was trading around $1,900 at the start of the new week and also ended the week with gains. BNB and Solana were in positive territory, while XRP lagged behind the broader market recovery and lost about 5%.
One of the main supporting factors was the return of institutional demand. U.S. spot Bitcoin ETFs saw $853.54 million in net inflows last week, marking the strongest weekly result since mid-April. A significant portion of the funds went to BlackRock’s IBIT fund.
The combined net inflow into U.S. spot Bitcoin and Ethereum ETFs for the week is estimated at approximately $1.1 billion. Back in early August, the situation was the opposite: Bitcoin ETFs had ended the previous week with a small net outflow, so the return of major buyers became one of the key shifts in the market landscape.
U.S. macroeconomic data provided additional support for cryptocurrencies. Weak U.S. labor market data eased concerns about a possible further increase in the Fed’s interest rates and bolstered demand for risky assets. Following the release of the data, Bitcoin rose to $65,000, while U.S. stock indices finished the week on a strong note.
However, it is still too early to speak of a full-fledged return to a sustained bullish trend. Bitcoin remains near the $62,000–$65,000 range, where it has spent much of the past few weeks. Analysts note that a sustained market recovery would require a break above the $65,000 level.
Another sign of caution is the extremely low realized volatility. Last Saturday, BTC’s trading range was only about $350—the narrowest Saturday range since November 2023. At the same time, the options market continues to see elevated demand for downside protection around the $62,000–$63,000 range, indicating ongoing concerns among market participants.
News of the sale of bitcoins by Strategy, the largest corporate holder, also acted as a restraining factor. The company reported on August 10 that it had sold 1,690 BTC for approximately $108.6 million the previous week, using the proceeds, in part, to repurchase preferred shares. Its holdings have decreased to 840,447 BTC.
Regulatory factors, on the other hand, are likely to take a back seat by the end of August. The U.S. Senate failed to pass the CLARITY Act before Congress’s August recess began. Lawmakers are not expected to resume consideration of comprehensive regulations for the digital asset market until at least mid-September.
What Will Drive the Market Through the End of August
The first major test will be U.S. inflation data. The U.S. Consumer Price Index for July is scheduled for release on August 12, the Producer Price Index on August 13, and retail sales data on August 14. Following weak employment data, inflation figures could shape expectations regarding the Fed’s future policy and, consequently, the direction of Bitcoin and other risky assets.
The next key date will be August 19, when the Federal Reserve releases the minutes of the July 28–29 FOMC meeting. Investors will be looking for additional signals in the minutes regarding the extent to which the central bank is concerned about the combination of rising inflation and a softening labor market.
The last week of August will be even more eventful. On August 26, the U.S. will simultaneously release the second estimate of second-quarter GDP and July statistics on personal income and spending, including the PCE price index—one of the Fed’s key inflation benchmarks.
From August 27 to 29, the Kansas City Federal Reserve Bank will hold its annual symposium in Jackson Hole. In 2026, the symposium’s theme is directly related to financial markets: “Financial Innovation: Implications for Payments and Policy.” Therefore, statements by central bank leaders may be of particular significance for the cryptocurrency sector as well.
Two main scenarios can be identified for the market through the end of August. Assuming continued capital inflows into ETFs, more moderate inflation in the U.S., and sustained expectations of a neutral or more dovish Fed policy, Bitcoin will have the opportunity to consolidate above $65,000 and attempt to return to July’s levels above $66,000. This is a conclusion based on the current market structure, not a guaranteed price forecast.
The negative scenario is primarily linked to an unexpected acceleration of inflation in the U.S., rising bond yields, and a renewed escalation of geopolitical risks surrounding the Middle East and the Strait of Hormuz. In that case, market attention will shift back to the $62,000–$63,000 range, where options traders are currently actively hedging against a decline.
Thus, the crypto market is entering the second half of August in a stronger position than at the beginning of the month: institutional inflows have resumed, Bitcoin has recouped a significant portion of its recent losses, and most of the largest altcoins have turned bullish. However, low volatility and the concentration of several key macroeconomic events in the second half of the month set the stage for a noticeable increase in price fluctuations by the end of August.
