EC: Poland among top-three the fastest growing economies in the EU

Toruń, Poland (M. M. Czarnecki, CC BY-NC)

Russian ban on food products import from EU extended by end-2019

Ukraine’s Economy Minister expects a new program from IMF in 2020

Poland

“The European Commission’s Summer 2018 Interim Economic Forecast shows that Poland will be one of the European Union’s three fastest-growing economies this year,” the Polish Radio quotes Teresa Czerwińska, Poland’s Finance Minister.

As reported, the European Commission raised its forecast for Polish GDP growth to 4.6 per cent in 2018, from an earlier estimate of 4.3 per cent.

Ms. Czerwińska explained that upgraded projection for Poland is a result of “a good GDP reading for the Q1’18, strong domestic demand and a marked improvement in investment coupled with an increased use of production capacity”.

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Russia

The Baltic Course informs that Russia still won’t be importing food products from the EU and other countries. As reported, President Vladimir Putin decided to extend a ban on import of agricultural products from the EU, the United States of America, Australia, Norway and Canada until the end of 2019.

The ban was introduced in 2014—after the international sanctions against Russia, following the annexation of Crimea (Ukraine), were imposed.

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Ukraine

Ukraine wants to continue cooperation with the International Monetary Fund (IMF). The Interfax informs that the country’s Ministry of Economic Development and Trade (MEDT) expects that a new program will be launched in 2020.

As reported, this is projected in a draft government resolution on the forecast of social and economic development for 2019-2021: Ukraine counts on an excess of disbursements from the IMF by USD0.7bn over repayments in 2020 and net income from the IMF in the amount of USD1bn in 2021.

The IMF informs that in 2020 Ukraine is to repay USD948.14m (including USD788.02m in principal debt), and in 2021 USD1.087bn (including USD968.54m in principal debt).

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What’s up in indexes

BET (of Bucharest) increased from 7,894.26 index points Wednesday, July 11th to 7,923.85 index points Thursday, July 12th. It’s up 0.39 per cent d/d and down 3.04 per cent y/y.

BUX (of Budapest) increased from 35,063.07 index points Wednesday, July 11th to 35,485.87 index points Thursday, July 12th. It’s up 1.21 per cent d/d and down 1.08 per cent y/y.

CROBEX (of Zagreb) decreased from 1,809.68 index points Wednesday, July 11th to 1,807.51 index points Thursday, July 12th. It’s down 0.12 per cent d/d and down 0.65 per cent y/y.

OMXR (of Riga) decreased from 1,050.16 index points Wednesday, July 11th to 1,048.81 index points Thursday, July 12th.  It’s down 0.13 per cent d/d and up 6.80 per cent y/y.

OMXT (of Tallinn) decreased from 1,258.78 index points Wednesday, July 11th to 1,257.46 index points Thursday, July 12th. It’s down 0.10 per cent d/d and up 6.31 per cent y/y.

OMXV (of Vilnius) increased from 708.60 index points Wednesday, July 11th to 710.81 index points Thursday, July 12th. It’s up 0.31 per cent d/d and up 16.20 per cent y/y.

PX (of Prague) decreased from 1,088.33 index points Wednesday, July 11th to 1,083.17 index points Thursday, July 12th. It’s down 0.47 per cent d/d and up 8.40 per cent y/y.

SAX (of Bratislava) increased from 330.79 index points Wednesday, July 11th to 341.58 index points Thursday, July 12th. It’s up 3.25 per cent d/d and up 2.11 per cent y/y.

SOFIX (of Sofia) increased from 624.94 index points Wednesday, July 11th to 627.50 index points Thursday, July 12th. It’s up 0.41 per cent d/d and down 11.77 per cent y/y.

UX (of Kyiv) decreased from 1,576.78 index points Wednesday, July 11th to 1,569.32 index points Thursday, July 12th. It’s down 0.47 per cent d/d and up 48.86 per cent y/y.

WIG20 (of Warsaw) increased from 2,154.28 index points Wednesday, July 11th to 2,161.20 index points Thursday, July 12th. It’s up 0.32 per cent d/d and down 7.70 per cent y/y.

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