In Poland costs of raising children are increasing

(Tetyana Pryymak, CC BY-ND)

MKB Bank goes to Lorinc Meszaros

Czech Republic the most competitive in the CEE

Poland

The Polish Radio reports, after the Adam Smith Centre, about costs of raising children. In 2017 the total costs of raising a child in Poland, from its birth to the age of 18, reach up to PLN200,000 (EUR48,000). It’s up 5 per cent compared with 2015. The Centre also estimates the total cost of raising 3 children amounts to PLN422,000 (EUR101,442).

The Polish Radio quotes the President of the Adam Smith Centre Andrzej Sadowski saying: “the rising costs of living are pushing up the cost of raising children”.

In the EU the costs of raising a child are the highest in the UK. As reported, in 2016 the average family had to earmark £231,843 (EUR264,000) to raise a child.

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Hungary

As Reuters informs Hungarian MKB Bank will be controlled by a holding linked to Lorinc Meszaros, an ally of Prime Minister Victor Orbán. Konzum Holding, in which Meszaros controls 19.6 per cent of stake, took over a private equity fund Metis (previously belonging to a private equity investor Minerva), and became the owner of 45 per cent stake in MKB Bank. Now, Konzum has informed it plans to buy further 4 per cent stake in MKB.

MKB Bank is a retail bank established in 1950. It is one of the top five biggest commercial banks in Hungary. It’s privatization has started in 1994.

In 2010-2014 the bank posted steep losses, in 2015 Hungarian government decided to sell it. In June 2016 the bank was acquired by a consortium of two private equity funds: Blue Robin Investments S.C.A. and METIS Private Capital Fund, for HUR37bn (EUR120,3m).

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Czech Republic

Czech Republic is the most competitive country in the Central and Southeast Europe. Hungary is the least competitive–the data from “IMD World Competitiveness Yearbook” shows. Czech Republic and Estonia are the only countries of the CSE that got into the top 30 of the ranking. The countries are ranked – respectively – as 28th and 30th. However, Estonia has improved its last year’s result (upgrading from the place 31st to 30th) and the Czech Republic’s dropped from 27th to 28th place. Lithuania, Poland and Latvia are – respectively – 33rd, 38th and 40th place, and also dropped (Lithuania from the 30th place, Poland from 33rd, and Latvia from 37th).

Slovenia is ranked as 43rd, Bulgaria 49th,Romania 50th, Slovakia 51st, and Hungary 52nd.

The annual report “IMD World Competitiveness Yearbook” has been published since 1989. It compares and evaluates some 340 criteria and includes 63 countries.

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What’s up in indexes

No trading at Bucharest’s bourse on June 1st. BET (of Bucharest) closed at 8,769.41 index points Wednesday, May 31st. It’s 37.94 per cent y/y.

BUX (of Budapest) increased from 34,551.90 index points Wednesday, May 31st to 34,762.46 index points Thursday, June 1st. It’s up 0.61 per cent d/d and up 28.80 per cent y/y.

CROBEX (of Zagreb) decreased from 1,864.17 index points Wednesday, May 31st to 1,842.42 index points Thursday, June 1st. It’s down 0.84 per cent d/d and up 11.26 per cent y/y.

OMXR (of Riga) increased from 851.43 index points Wednesday, May 31st to 855.33 index points Thursday, June 1st. It’s up 0.46 per cent d/d and up 34.35 per cent y/y.

OMXT (of Tallinn) increased from 1,116.57 index points Wednesday, May 31st to 1,122.70 index points Thursday, June 1st. It’s up 0.55 per cent d/d and up 13.25 per cent y/y.

OMXV (of Vilnius) decreased from 592.11 index points Wednesday, May 31st to 591.95 index points Thursday, June 1st. It’s down 0.03 per cent d/d and up 15.17 per cent y/y.

PX (of Prague) increased from 1,002.38 index points Wednesday, May 31st to 1,006.08 index points Thursday, June 1st. It’s up 0.37 per cent d/d and up 13.27 per cent y/y.

SAX (of Bratislava) increased from 304.13 index points index points Wednesday, May 31st to 306.92 index points Thursday, June 1st. It’s up 0.92 per cent d/d and down 3.77 per cent y/y.

SOFIX (of Sofia) increased from 661.23 index points Wednesday, May 31st to 664.08 index points Thursday, June 1st. It’s up 0.43 per cent d/d and up 49.87 per cent y/y.

UX (of Kyiv) decreased from 1,004.40 index points Wednesday, May 31st to 1,001.55 index points Thursday, June 1st. It’s down 0.28 per cent d/d and up 60.22 per cent y/y.

WIG20 (of Warsaw) decreased from 2,281.18 index points Wednesday, May 31st to 2,278.26 index points Thursday, June 1st. It’s down 0.13 per cent d/d and up 29.48 per cent y/y.

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