Romanian government debt to GDP ratio decreased
Fitch affirms Latvia’s long-term local currency at A-
In May 2016 retail sales in Hungary is up 6.8 per cent y/y
Bosnia fails to exploit biomass potential
The unemployment rate in June 2016 dropped to 8.8 per cent – according to the Poland’s Central Statistical Office (GUS). There were 1,392,500 people registered as unemployed in labor offices. It’s the lowest level in 25 years the Polish Radio reports.
In May 2016 it was 9.1 per cent (1,456,900 people registered as unemployed).
“The latest figures which are in line with previous estimates by the Labor Ministry, indicate that the situation on the Polish labor market is improving from month to month. The fall reflects a boost from seasonal work as well as an increase in demand for labor amid steady economic growth,” writes the Polish Radio.
Romania’s government debt amounted to EUR60.6bn or 37.6 per cent of the country’s GDP, at the end of Q2’16. So it’s down 0.8 percentage points (pp) compared to the end of Q1’16.
The EU’s statistical office Eurostat reported Romania has the fourth-lowest government debt to GDP ratio in the EU, after Estonia, Luxembourg and Bulgaria.
According to the latest numbers, as many as sixteen EU member states recorded an increase in the government debt as percentage of the GDP in the first three months of 2016 (as compared to Q4 2015).
Eleven member states, including Romania, reduced the debt level. In the European Union, the level of government debt dropped from 85.3 per cent of the GDP in the last quarter of 2015 to 84.8 per cent of the GDP in the first three months of this year. In the Eurozone, the debt rose to 91.7 per cent of the GDP in the first quarter of this year from 90.7 per cent in Q4’15.
Romania has the fifth lowest public debt in the EU.
Latvian Treasury informed that Fitch Ratings has affirmed Latvia’s long-term local currency rating at A-, with a stable outlook. The short-term foreign and local currency rating has been affirmed at F1.
As Baltic Course informs – credit rating was revised due to changes in valuation methodology by the credit rating agency Fitch Ratings. The next scheduled review for sovereign rating will take place in November 4, 2016.
The Central Statistics Agency (KSH) of Hungary informed the volume of sales in retail shops in May 2016 increased (compared with May 2015) by 6.8 per cent according to raw data and by 5.7 per cent adjusted for calendar effects.
Portfolio.hu informs that adjusted for calendar effects, the volume of sales grew by 4.4 per cent in specialized and non-specialized food shops, by 6.8 per cent in non-food retail shops and by 9 per cent in automotive fuel retailing. In January-May 2016, the volume of sales was 5.1 per cent higher than a year earlier.
In May 2016, total sales reached HUF782bn at current prices (EUR2.5bn). Food, drinks and tobacco stores accounted for 47 per cent of all retail sales, non-food retail shops 37 per cent, and the network of petrol stations 16 per cent.
Bosnia and Herzegovina
“Bosnia could exploit clean biomass energy to cover a significant share of its total electric needs,” Balkan Insight quotes experts. Fahrudin Kulic, an expert on biomass working with USAID, claims the country’s potential in this area is not being completely unexploited and that about 7 per cent of the total electricity demand of Bosnia could be covered by fully exploiting biomass.
The major reasons are:
- Business is not familiar with technologies;
- Difficulties in obtaining permissions for operating in the sector;
- High costs of plant building.
Biomass refers to biological material which can be used to produce energy, most commonly wood or biological waste.
What’s up in indexes
BUX (of Budapest) was up 0.35 per cent – increasing from 27851.63 index points Friday, July 22nd to 27950.24 index points Monday, July 25th. From year-end it’s up 16.85 per cent.
BET (of Bucharest Stock Exchange) grew by 0.08 per cent – increasing from 6638.03 index points Friday, July 22nd to 6659.81 index points Monday, July 25th. From year-end it dropped by 4.92 per cent.
PX (of Prague Stock Exchange) was up 0.12 per cent d/d – increasing from 891.37 index points Friday, July 22nd to 892.44 index points Monday, July 25th. From year-end it lost 6.68 per cent.
WIG20 (of Warsaw) was up 1.21 per cent – increasing from 1792.97 index points Friday, July 22nd to 1814.75 index points Monday, July 25th. From year-end it lost 2.39 per cent.
OMXT (of Tallinn) dropped by 0.30 per cent d/d – falling from 1021.21 index points Friday, July 22nd to 1018.11 index points Monday, July 25th. From year-end it’s up 13.25 per cent.
OMXR (of Riga) was up 0.15 per cent d/d and up 8.04 per cent from year-end. The index increased from 641.18 index points Friday, July 22nd to 642.12 index points Monday, July 25th.
OMXV (of Vilnius) dropped by 0.13 per cent d/d, decreasing from 545.26 index points Friday, July 22nd to 544.57 index points Monday, July 25th. From year-end it’s up 12.05 per cent.
SAX (of Bratislava) dropped by 0.76 per cent d/d falling from 312.39 index points Friday, July 22nd to 310.02 index points Monday, July 25th. From year-end it’s up 6.04 per cent.
SOFIX (of Sofia) increased from 454.25 index points Friday, July 22nd to 455.75 index points Monday, July 25th. So it’s up 0.33 per cent d/d. From year-end it dropped by 1.12 per cent.
UX (of Kyiv) increased from 711.60 index points Friday, July 22nd to 720.74 index points Monday, July 25th. So it’s up 1.28 per cent d/d. From year-end it’s up 5.09 per cent.
CROBEX (of Zagreb Stock Exchange) increased from 1749.83 index points Friday, July 22nd to 1752.37 index points Monday, July 25th. So it’s up 0.15 per cent d/d. From year-end it’s up 3.71 per cent.