Annual net wages in CSE are well below EU average

Tallinn, Estonia (Troy David Johnston, CC BY-NC 2.0)

Serbia, North Macedonia and Greece to discuss railway project

Production of new Renault Clio 5 launched in Slovenia

Estonia

Estonia had by far the highest annual average net wages in the CSE in 2018. It’s EUR18,543, Eurostat informed. Slovenia was ranked the second with EUR12,960, the Czech Republic came the third with EUR11,266, Poland the fourth with EUR9,512 and Hungary the eight with EUR8,630.

Only three countries in the EU have net annual wages lower than in Hungary: Latvia (EUR8,508), Romania (EUR5,874), and Bulgaria (EUR5,512).The EU’s average annual wage is EUR24,700.

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Serbia

The Serbian government plans to start discussions with North Macedonia and Greece on a railway project that will connect Budapest with Greece via Serbian territory, which will be financed by China, Infrastructure Minister Zorana Mihajlovic informed. “We will talk with North Macedonia and Greece to see if they will join this corridor, because it is not enough to have just a modernized line from Belgrade to Budapest,” Mr. Mihajlovic said.

In July 2018, Serbia signed a EUR943m deal with China Railway International and China Communications Construction Company for the 108 km long railway connecting with Budapest.

The Budapest – Belgrade – Skopje – Athens railway, project of Beijing’s One Belt One Road initiative, is a planned high-speed railway between Budapest (Hungary), Belgrade (Serbia), Skopje (North Macedonia), Athens and port of Pireus (Greece).

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Slovenia

Slovenian car maker Revoz, a unit of France’s Renault, launched production of the new Clio 5 model following a EUR90m investment, the government in Ljubljana informed. Factory in Novo Mesto will produce up to 80,000 cars annually and up to 600 daily. Next year, it will also start manufacturing small numbers of the hybrid Clio 5.

The government has contributed EUR6m to the project. “The Slovenian car industry boasted 284 companies, which generated 10 per cent of the gross domestic product and more than 20 per cent of exports, while employing more than 16,000 people,” Economy Minister Zdravko Počivalšek said.

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What’s up in indexes

BET (of Bucharest) increased from 8834.00 index points Wednesday, July 3rd to 8913.47 index points Thursday, July 4th. It’s up 0.74 per cent d/d and up 12.8 per cent y/y.

BUX (of Budapest) decreased from 40985.00 index points Wednesday, July 3rd to 40936.00 index points Thursday, July 4th. It’s down 0.74 per cent d/d and up 11.8 per cent y/y.

OMXR (of Riga) decreased from 1030.16 index points Wednesday, July 3rd to 1008.25 index points Thursday, July 4th. It’s down 2.13 per cent d/d and down 2.80 per cent y/y.

OMXT (of Tallinn) decreased from 1259.89 index points Wednesday, July 3rd to 1259.43 index points Thursday, July 4th. It’s down 0.04 per cent d/d and down 0.15 per cent y/y.

OMXV (of Vilnius) increased from 668.68 index points Wednesday, July 3rd to 671.78 index points Thursday, July 4th. It’s up 0.46 per cent d/d and down 5.19 per cent y/y.

PX (of Prague) increased from 1049.29 index points Wednesday, July 3rd to 1052.10 index points Thursday, July 4th. It’s up 0.27 per cent d/d and down 2.36 per cent y/y.

RTS (of Moscow) increased from 1401.52 index points Wednesday, July 3rd to 1409.23 index points Thursday, July 4th. It’s up 0.55 per cent d/d and up 22.8 per cent y/y.

SAX (of Bratislava) increased from 337.84 index points Wednesday, July 3rd to 347.09 index points Thursday, July 4th. It’s up 2.74 per cent d/d and up 5.07 per cent y/y.

SOFIX (of Sofia) increased from 581.70 index points Wednesday, July 3rd to 582.20 index points Thursday, July 4th. It’ up 0.12 per cent d/d and down 7.64 per cent y/y.

UX (of Kyiv) closed at 1627.73 index points Thursday, July 4th. It’s the same result as Wednesday’s. It’s 0 per cent change d/d and up 1.57 per cent y/y.

WIG20 (of Warsaw) increased from 2345.56 index points Wednesday, July 3rd to 2354.57 index points Thursday, July 4th. It’s up 0.38 per cent d/d and up 7.88 per cent y/y.

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