Unicredit expects 2.6 per cent growth for Slovenia

Ljubljana, Slovenia (Gilad Rom, CC BY-NC)

Today in Davos – the last day of the World Economic Forum

EBRD ready to help Kyiv to build ring road

Slovenia

Slovenia’s economy will grow 2.6 per cent in 2017, Unicredit bank forecasts. The estimate is in line with projections by other international forecasters expecting 2.3-2.9 per cent growth this year, writes Slovenia Times.

The growth of Slovenia’s economy should be driven by consumption. In 2016 it exceeded anticipations, so Unicredit upgraded its forecast for the last year’s growth from 1.9 per cent to 2.4 per cent.

Unicredit also expects both state and private investments to go up. The former due to more drawing of EU funds and the latter due to favorable financing conditions and better business results.

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Switzerland

This is the last day of the World Economic Forum in Davos. Today’s main session is the Global Economic Outlook. The International Monetary Fund expects faster global growth this year – 3.4 per cent against 2016’s 3.1 per cent. And it forecasts a further rise to 3.6 per cent by 2018. But IMF also warns that there are a large number of risks that could derail that recovery.

In 2016, the EU economy probably grew by 1.8 per cent. Much higher than the average from 2008-2015 but, according to IMF, still too weak to make much of a dent in unemployment.

Also today the participants will discussed the new vision for the UK and Europe following Brexit, with British Finance Minister Philip Hammond. Another topic is the cyber war and global science outlook.

After yesterday’s address by Theresa May, Prime Minister of the United Kingdom, in which she confirmed the ‘hard’ Brexit, Polish Deputy Prime Minister Mateusz Morawiecki said, quoted by the Polish state television TVP, that HSBC and UBS are considering relocating some of their operations. Morawiecki revealed that he proposed moving the middle office of HSBC to Poland.

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Ukraine 

The European Bank for Reconstruction and Development (EBRD) is ready to help Kyiv City to implement the bid on the construction project of a ring road. Quoted by Interfax, Kyiv City Mayor Vitali Klitschko said in Davos, that “One of the key tasks we see for ourselves is building the ring road that could lift the environment situation and unload transport infrastructure.”

Klitschko said that the second round of talks with the EBRD on the project would be held in Kyiv and added that it is too early to speak about details of the future ring road.

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What’s up in indexes

BUX (of Budapest) decreased from 32,841.00 index points Wednesday, January 18th to 32,709.00 index points Thursday, January 19th. It was down 0.40 per cent d/d and up 40.90 per cent y/y.

BET (of Bucharest) increased from 7,178.34 index points Wednesday, January 18th to 7,216.15 index points Thursday, January 19th. It was up 0.57 per cent d/d and up 16.74 per cent y/y.

PX (of Prague) increased from 925.93 index points Wednesday, January 18th to 928.71 index points Thursday, January 19th. It was up 0.30 per cent d/d and up 6.26 per cent y/y.

WIG20 (of Warsaw) increased from 2,005.65 index points Wednesday, January 18th to 2,015.47 index points Thursday, January 19th. It was up 0.49 per cent d/d and up 19.08 per cent y/y.

OMXT (of Tallinn) increased from 1,088.09 index points Wednesday, January 18th to 1,092.13 index points Thursday, January 19th. It was up 0.37 per cent d/d and up 24.09 per cent y/y.

OMXR (of Riga) increased from 743.26 index points Wednesday, January 18th to 743.98 index points Thursday, January 19th. It was up 0.10 per cent d/d and up 25.21 per cent y/y.

OMXV (of Vilnius) increased from 563.20 index points Wednesday, January 18th to 564.52 index points Thursday, January 19th. It was up 0.23 per cent d/d and up 16.72 per cent y/y.

SAX (of Bratislava) increased from 315.70 index points Wednesday, January 18th to 316.24 index points Thursday, January 19th.  It was up 0.17 per cent d/d and up 4.29 per cent y/y.

SOFIX (of Sofia) decreased from 606.42 index points Wednesday, January 18th to 605.09 index points Thursday, January 19th. It was down 0.22 per cent d/d and up 35.73 per cent y/y.

UX (of Kiev) increased from 857.39 index points Wednesday, January 18th to 860.84 index points Thursday, January 19th. It was up 0.40 per cent d/d and up 32.64 per cent y/y/.

CROBEX (of Zagreb) increased from 2,079.52 index points Wednesday, January 18th to 2,083.84 index points Thursday, January 19th. It was up 0.21 per cent d/d and up 30.77 per cent y/y.

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