Bulgaria with the highest share of poverty in the EU

Sofia, Bulgaria (Albyantoniazzi, CC BY-NC-ND 2.0)

Germany's MTU to manufacture airplane parts in Serbia

Russia’s non-energy exports soar to USD160bn

Bulgaria and Romania

Bulgaria and Romania had the highest rate of severe material deprivation in the European Union in 2018 (respectively 20.9 and 16.8 per cent), according to figures released by Eurostat. However, in Bulgaria the rate decreased by 9.1 per cent y/y, which is the best result in the EU.

According to Eurostat’s criteria people living in severe material deprivation cannot afford at least four of the following elements, which are considered by most people to be desirable or necessary to lead an adequate life: pay their bills on time, keep their home adequately warm, face unexpected expenses, eat meat (or fish or the vegetarian equivalent) regularly, take a week of holiday away from home, own a TV, a washing machine, a car, and a telephone.

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Serbia

German MTU will open in Serbia a new factory producing software, parts and engines for airplanes. A memorandum of understanding was signed in Belgrade by the Serbian Ministry of Economy and MTU Aero Engines AG. The plant will employ 450 people in the initial phase, with more workers planned later on.

Serbian President Aleksandar Vucic also announced that chances of a Volkswagen plant coming to Serbia are slim. “Unlike our rivals in the EU, we do not have the PEM convention but, in every other way, Serbia is ahead of everyone else and an incomparably better competitor,” Mr. Vucic said during a press conference.

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Russia

According to the first Deputy Prime Minister and Finance Minister Anton Siluanov the Russian government expects that non-energy exports will reach USD160bn in 2019, an increase of USD9bn y/y compared with 2018, said

Mr. Siluanov noted that the government’s plan is to become one of the world’s top five economies, reaching economic growth rates above the global average and creating a high-productive export oriented sector.

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What’s up in indexes

BET (of Bucharest) decreased from 8422.55 index points Tuesday, May 7th to 8402.97 index points Wednesday, May 8th. It’s down 0.23 per cent d/d and down 4.11 per cent y/y.

BUX (of Budapest) increased from 41085.00 index points Tuesday, May 7th to 41350.00 index points Wednesday, May 8th. It’s up 0.65 per cent d/d and up 11.3 per cent y/y.

OMXR (of Riga) decreased from 1031.40 index points Tuesday, May 7th to 1012.78 index points Wednesday, May 8th. It’s down 1.81 per cent d/d and down 3.24 per cent y/y.

OMXT (of Tallinn) increased from 1252.79 index points Tuesday, May 7th to 1254.80 index points Wednesday, May 8th. It’s up 0.16 per cent d/d and up 0.82 per cent y/y.

OMXV (of Vilnius) increased from 686.24 index points Tuesday, May 7th to 688.33 index points Wednesday, May 8th. It’s up 0.30 per cent d/d and down 4.11 per cent y/y.

Wednesday, May 8th was a non-trading day at Prague Stock Exchange. PX (of Prague) closed at 1063.50 index points Tuesday, May 7th. It’s down 2.42 per cent y/y.

RTS (of Moscow) decreased from 1237.86 index points Tuesday, May 7th to 1233.05 index points Wednesday, May 8th. It’s down 0.39 per cent d/d and up 7.96 per cent y/y.

Wednesday, May 8th was a non-trading day at Bratislava Stock  Exchange. SAX (of Bratislava) closed at 361.37 index points Tuesday, May 7th. It’s up 9.29 per cent y/y.

SOFIX (of Sofia) decreased from 567.00 index points Tuesday, May 7th to 566.90 index points Wednesday, May 8th. It’s down 0.14 per cent d/d and down 13.19 per cent y/y.

UX (of Kyiv) increased from 1695.50 index points Tuesday, May 7th to 1706.22 index points Wednesday, May 8th. It’s up 0.63 per cent d/d and down 5.70 per cent y/y.

WIG20 (of Warsaw) decreased from 2233.80 index points Tuesday, May 7th to 2221.82 index points Wednesday, May 8th. It’s down 0.54 per cent d/d and down 0.65 per cent y/y.

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