Central Europe welcomes Donald Trump’s victory

(Gage Skidmore, CC BY-SA)

Germany would provide a loan of up to EUR32.5m to Ukraine

Latvia with the new head of the State Revenue Service

Central Europe

Donald Trump’s victory in the US presidential race has shocked many all over the world. Meanwhile far-right leaders in Russia and other CEE countries have already congratulated Trump. Kirill Dmitriev, CEO of Russia’s sovereign wealth fund, said he believes that Trump offers more opportunity for “global growth and reducing geopolitical confrontations through pragmatic and results oriented approach.” Garry Kasparov, a Putin critic, on the other hand tweeted his reaction “Winter is here.”

Czech Prime Minister Bohuslav Sobotka tweeted „At least Trump knows where the Czech Republic is, unlike some of his predecessors.” His Foreign Affair Minister, Lubomír Zaorálek, added on Twitter that “apparently this is a start of a new era of euro-atlantic relations.”

Polish President Andrzej Duda congratulated Donald Trump on Twitter. “I am confident US-PL bonds will remain as close & strong as ever. Hopefully even stronger,” he wrote. Polish Foreign Affairs Minister Witold Waszczykowski told TVN24 (a Polish TV) that Donald Trump is against political correctness, and many Americans liked it. “For them he is the leader of new times,” said Waszczykowski and added that Poland is not afraid because “our politics has been noticed by both candidates. Trump met with Poles living in the US, and he knows how much Poland spends on its defense and how well it defends the eastern NATO boarder. “I’m sure that Trump’s criticism of NATO is not directed towards Poland,” Waszykowski said.

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Ukraine

“Germany would provide a loan of up to EUR32.5m to Ukraine for the period of up to 30 years and the grace period of 10 years under the second phase of the project on increase of energy efficiency in power transmission (modernization of transformer substations) by the end of this year,” the Interfax reports after the Economic Development and Trade Ministry of Ukraine. The agreement was reached during a visit of a ministry’s delegation to Berlin on November. 

By the end of 2016 the Germans will provide EUR72m of the financial assistance. Some EUR16m – for developing democracy, civil society, public administration, regional development and decentralization, EUR36m for energy efficiency and m to build and reconstruct houses for internally displaced persons (IDPs). The ministry pointed out that since 2002, Germany has provided EUR500m of assistance to Ukraine.

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Latvia

Leta agency informs Latvian government appointed Ilze Cirule as the new director-general of the State Revenue Service (SRS). Cirule will begin work from November 14th. The Finance Minister Dana Reizniece-Ozola (Greens/Farmers) informed Ms. Cirule shares the same vision of the Revenue Service’s future development.

Latvia has to broaden the tax base, raise tax rates and reduce tax evasion, as in June 2016 the World Bank experts have concluded “difficult decisions will be required and major adjustments will have to be made to the tax system”. 

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What’s up in indexes

BUX  (of Budapest) dropped by 0.02 per cent – falling from 30353.45 index points Monday, November 7th to 30348.45 index points Tuesday, November 8th. From year-end it’s up 26.87 per cent.

BET (of Bucharest Stock Exchange) dropped by 0.14 per cent d/d and by 2.70 per cent from year-end. It decreased from 6822.17 index points Monday, November 7th to 6812.74 index points Tuesday, November 8th.

PX (of Prague) dropped by 0.12 per cent d/d and by 6.10 per cent from year-end. It decreased from 899.00 index points Monday, November 7th to 897.95 index points Tuesday, November 8th.

WIG20 (of Warsaw) increased from 1761.79 index points Monday, November 7th to 1783.22 index points Tuesday, November 8th. So it’s up 1.22 per cent d/d. From year-end it dropped by 4.08 per cent.  

OMXT (of Tallinn) was up 0.26 per cent d/d and up 13.32 per cent from year-end. It increased from 1016.11 index points Monday, November 7th to 1018.71 index points Tuesday, November 8th.

OMXR (of Riga) increased from 710.31 index points Monday, November 7th to 713.51 index points Tuesday, November 8th. So it’s up 0.45 per cent d/d. From year-end it’s up 20.05 per cent.

OMXV (of Vilnius) dropped by 0.29 per cent -falling from 555.92 index points Monday, November 7th to 554.33 index points Tuesday, November 8th. From year-end it’s up 14.06 per cent.

SAX (of Bratislava) closed at 317.06 index points Tuesday, November 8th. It’s the same result as on Thursday, November 3rd. So it’s zero per cent change. From year-end its’ up 8.45 per cent.

SOFIX (of Sofia) was up 1.25 per cent d/d and by 21.10 per cent from year-end. It increased from 551.27 index points Monday, November 7th to 558.16 index points Tuesday, November 8th.  

UX (of Kyiv) increased from 834.42 index points Monday, November 7th to 843.46 index points Tuesday, November 8th. So it’s up 1.08 per cent d/d. From year-end it’s up 22.98 per cent.

CROBEX (of Zagreb) dropped by 0.29 per cent – falling from 1939.14 index points Monday, November 7th to 1933.55 index points Tuesday, November 8th. From year-end it’s up 14.44 per cent.

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