Poland lacks IT specialists

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Hungary with trade surplus lower than expected

Latvia: Natural gas and electricity prices to drop

Poland

The Polish Radio informs, after Rzeczpospolita daily, that Poland lacks IT specialists. As reported, Poland’s IT market needs 30,000-50,000 IT specialists more, and the shortage of coders, developers and analysts “has prompted many companies to organize training sessions for new recruits but also to outsource employees from across the eastern border.”

Some IT specialists come from Ukraine where professionals have the same expertise and experience like their Polish colleagues, but often a bit lower financial expectations.

As Rzeczpospolita points out, the lack of IT specialists is a broader European problem. European companies have vacancies for up to 500,000 professionals.

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Hungary

In July 2017, the Hungarian trade surplus was lower than expected, reaching EUR322m – the data from the Central Statistical Office (KSH) shows. As reported, it was down EUR359m y/y. Exports grew by 5.2 per cent y/y (to EUR7,605bn) and imports were up 11.3 per cent y/y (to EUR7.282bn).

This is mostly due to stagnating performance of the automotive industry. The BBJ quotes Gergely Suppán, an analyst from Takarekbank, explaining that “export was influenced by weaker than expected industrial output while imports rose on higher domestic demand. As oil prices are lower than expected, they do not impact the terms of trade as negatively as was forecasted.” Suppán assessed that in 2017 the foreign trade surplus could fall to EUR8.7bn from EUR9.725bn.

79 per cent of Hungary’s exports destinations are the member states of the European Union. Also some 78 per cent of imports come from the EU countries.

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Latvia

Latvian Minister of Economy, Arvils Aseradens has informed that natural gas and electricity prices should decline in the coming years. Natural gas prices in Latvia should converge the prices in Central Europe (where they are lower than in Latvia) within 2-3 years.

“We are going in the direction where electricity prices should decline every year” the minister said in a TV interview.  As reported it will happen thanks to “the competition mechanisms [that] have been developed”.

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What’s up in indexes

BET (of Bucharest) decreased from 7,979.17 index points Thursday, September 7th to 7,855.82 index points Friday, September 8th. It’s down 1.54 per cent d/d and up 11.26 per cent y/y.

BUX (of Budapest) decreased from 37,783.51 index points Thursday, September 7th to 37,596.75 index points Friday, September 8th. It’s down 0.49 per cent d/d and up 31.89 per cent y/y.

CROBEX (of Zagreb) decreased from 1,883.67 index points Thursday, September 7th to 1,882.72 index points Friday, September 8th. It’s down 0.05 per cent and up 1.7 per cent y/y.

OMXR (of Riga) decreased from 996.18 index points Thursday, September 7th to 993.35 index points Friday, September 8th. It’s down 0.28 per cent d/d and up 46.25 per cent y/y.

OMXT (of Tallinn) decreased from 1,265.96 index points Thursday, September 7th to 1,262.44 index points Friday, September 8th. It’s down 0.28 per cent d/d and up 26.44 per cent y/y.

OMXV (of Vilnius) decreased from 647.29 index points Thursday, September 7th to 646.51 index points Friday, September 8th. It’s down 0.12 per cent d/d and up 20.11 per cent y/y.

PX (of Prague) increased from 1,019.15 index points Thursday, September 7th to 1,021.07 index points Friday, September 8th. It’s up 0.19 per cent d/d and up 15.40 per cent y/y.

SAX (of Bratislava) closed at 332.55 index points Friday, September 8th. It’s 0 per cent change d/d. It’s up 3.12 per cent y/y.

SOFIX (of Sofia) decreased from 705.87 index points Thursday, September 7th to 705.51 index points Friday, September 8th. It’s down 0.05 per cent d/d and up 50.52 per cent y/y.

UX (of Kyiv) decreased from 1,137.57 index points Thursday, September 7th to 1,136.47 index points Friday, September 8th. It’s down 0.10 per cent d/d and up 51.17 per cent y/y.

WIG20 (of Warsaw) decreased from 2,491.79 index points Thursday, September 7th to 2,483.58 index points Friday, September 8th. It’s down 0.33 per cent d/d and up 38.48 per cent y/y.

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