Battle over Czech budget

Andrej Babis (CC BY Bundesministerium fur Europa)

How much is Poroshenko paid?

The budget deficit in Hungary above the target.

Average wage in Bulgaria between EUR303 and EUR609.

Czech Republic

Czech government is heading to third and the final reading of the 2016 budget. The government, Prime Minister Bohuslav Sobotka and Finance Minister Andrej Babis, are confident it will go through the lower house smoothly. The opposition is preparing for the battle – Radio Praha reports.

“The 2016 budget has already seen numerous revisions, most recently a proposed transfer of CZK44bn (EUR1.6bn) to be spent on the army, border protection, education and social services. Despite the last minute shift of priorities triggered mainly by the migrant crisis, Finance Minister Andrej Babis has been able to maintain the set goal – a deficit of CZK70bn (EUR2.6bn), i.e. 30 billion lower than this year’s” – Radio.cz reads.

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Ukraine

Radio Svoboda (followed by Interfax) reveals the wage of the Ukrainian President. Citing the formal response of the presidential administration it reports the wage of Petro Poroshenko as of November 1st 2015 is UAK9296 (approx. EUR359). A the same time the wage of the head of presidential administration (Borys Lozhkin) is UAH15759 (approx. EUR609).

“In accordance with Cabinet resolution No. 518 dated June 30, 2015 about the wage of the president of Ukraine, the wage of the Ukrainian president depends on the wage of the Ukrainian premier and as of November 1, 2015 was UAH 9296. The wage of the presidential administration head as of November 1, 2015 under the terms of the employment contract was UAH 15759,” reads an article of Radio Svoboda at its website.

At the same time Petro Poroshenko is one of the richest Ukrainians. As his financial statement shows, he gained more than UAH369m (aprox. EUR15m) in 2014. The money came mostly from his bonds and shares he has in his portfolio.

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Hungary

Hungary’s general government deficit (cash-flow based; excluding local councils) amounted to HUF970.7bn at the end of November 2015 – MTI agency informs. This means it’s 108.8 per cent of the full-year target which is HUF892.4bn.

The National Economy Ministry reported the central budget deficit reached HUF1.0385tr at the end of November.

At the same time the National Bank of Hungary informed it estimates the 2016 general government deficit (according to EU accounting rules) at 2.2 per cent of GDP. It is more than the 2.0 target.

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Bulgaria

How much is average worker paid in Bulgaria? Between BGN1119 (EUR609) and BGN593 (EUR303) – Novinite.com reports.

The numbers of National Statistical Institute (NSI) show that the highest salaries go to the workforce of Bulgarian capital, Sofia. People working there earn double the remuneration paid to their colleagues in the towns of Vidin and Blagoevgrad. The highest average wage was registered in Sofia (EUR609) and the lowest in Vidin (EUR303). But the second of highest average (of BGN871, EUR445) was registered in the city Vratsa, located in one of the poorest regions of the country. “This (…) was largely due to the high remunerations paid at the only nuclear power plant in the country, which is located near the town of Kozloduy” – reads Novinite.com.

This all relates to the Q3 2015.

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What’s up in indexes?

BUX (of Budapest) lost 1.31 per cent on Monday, December 7th. It closed at 23319.06 index points while the day before it ended at 23629.05 index points. From year-end it’s up 40.19 per cent.

BET (of Bucharest Stock Exchange) gained 1.13 per cent, climbing from 7098.52 index points. The previous close was at 7019.25 index points. From year-end it grew by 0.22 per cent.

PX (of Prague) dropped by 0.47 per cent, falling from 950.48 index points Friday to 945.99 index points Monday. From year-end it dropped by 0.08 per cent.

WIG20 (of Warsaw) dropped by 0.18 per cent. It fell from 1868.24 index points to 1864.92 index points. From year-end it lost 19.47 per cent.

OMXT (of Tallinn) grew by 0.43 per cent increasing from 904.24 index points Friday, December 4th to 908.16 index points Monday, December 7th. From year-end it’s up 20.28 per cent.

OMXR (of Riga) was up 0.02 per cent on Monday closing at 583.75 index points. The previous close was at 583.62 index points. From year-end it’s up 43.07 per cent.

OMXV (of Vilnius) lost 0.31 per cent on Monday closing at 486.27 index points. The Friday’s result was 487.77 index points. From year-end it’s up 7.48 per cent.

SAX (of Bratislava) grew by 0.34 per cent ending at 303.72 index points. The previous close was at 302.70 index points. From year-end it’s up 36.61 per cent.

SOFIX (of Sofia) decreased from 435.36 index points Friday to 435.26 index points Monday, losing 0.02 per cent. From year-end it dropped by 16.63 per cent.

UX (of Kyiv) gained 0.49 per cent – increasing from 696.68 index Friday to 700.07 index points Monday. From year-end it dropped by 32.25 per cent.

CROBEX (of Zagreb Stock Exchange) was up 0.56 per cent on Monday, December 7th. In increased from 1673.21 index points to 1682.51 index points. From year-end it dropped by 3.61 per cent.

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