Estonia invested EUR70m in renewable energy in 2016

Nelja Energia, Paldiski, Estonia (NefcoNordic, CC BY-NC)

In Hungary real wages grew by 7.4 per cent in 2016

Latvia’s FinMin considers 20 per cent tax on capital gains

Medical services in Moldova will be more expensive 

Estonia 

According to data of the Estonian Renewable Energy Association (REA), new renewable electricity capacity added last year totaled 42.19 megawatts, and investments in renewable energy amounted to EUR70m, the Baltic Course reports.

“The 2016 investments and added capacities are almost as large as in three previous years combined,” said the head of the REA, Rene Tammist.

“While we are optimistic about the year 2017, the state’s policy concerning renewable energy investments after 2020 remains unclear. Such uncertainty is bound to affect investment in the renewable energy sector in coming years and because of that it is extremely important to have a legal framework favoring the development of the sector in place soon,” Tammist added.

Most renewable electric energy was produced from biomass, biogas and waste, and it was 55.6 per cent of all electricity produced from renewable sources. The share of wind energy was 41.7 per cent.

“The cost of renewable energy technologies, in particular solar and wind energy, has significantly fallen across the world,” Tammist added.

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Hungary

In 2016 real wages in were up by 7.4 per cent y/y, according to the Central Statistical Office (KSH). The Budapest Business Journal reports that a full-time employee’s average gross monthly earnings reached HUF263,200 (EUR854) at companies employing minimum five persons and in the public sector. Average net monthly earnings were HUF175,000 (EUR568).

The portal underlines that in 2016 the family tax benefits changed. So average monthly net earnings with tax benefits reached HUF182,200 (EUR591). At the same time in 2016 consumer prices grew by 0.4 per cent y/y.

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Latvia

The Finance Ministry is considering applying 20 per cent tax to capital gains that are not reinvested in companies’ development, reports Latvian agency Leta. According to the Finance Ministry’s Parliamentary Secretary Edgars Putra the FinMin will present a revised tax strategy of Latvia on April 1st, 2017.

Employers’ organizations have already proposed a reduction in labor taxes, but the Finance Ministry has not yet determined what fiscal effect this would have on the budget, Putra said. Their proposal is to reduce personal income tax and to increase non-taxable minimum income from the current EUR60-115 to EUR300 a month. The effect of this proposal is estimated at more than EUR200m.

The Ministry is also considering a decrease of the maximum turnover amount exceeding which taxpayers have to pay VAT. At the moment, the threshold is EUR50,000 annually, and the idea is to reduce the threshold to EUR30,000.

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Moldova

The InfoMarket reports on the costs increase of health service. The government revised a catalogue of unified tariffs for health services provided at a charge to public health facilities, all the popular services became more expensive. The increased prices include among other: common blood tests, hospital services (including ICU), and ultrasounds checks also for pregnant women.

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What’s up in indexes

BET (of Bucharest) increased from 7,745.39 index points Friday, February 17th to 7,801.42 index points Monday, February 20th. It was up 0.83 per cent d/d and up 23.16 per cent y/y.

BUX (of Budapest) increased from 33,828.86 index points Friday, February 17th to 33,974.00 index points Monday, February 20th. It was up 0.43 per cent d/d and up 45.61 per cent y/y.

CROBEX (of Zagreb) increased from 2,192.75 index points Friday, February 17th to 2,222.97 index points Monday, February 20th. It was up 1.38 per cent d/d and up 40.63 per cent y/y.

OMXR (of Riga) increased from 747.51 index points Friday, February 17th to 747.70 index points Monday, February 20th. It was up 0.03 per cent d/d and up 21.93 per cent y/y.

OMXT (of Tallinn) decreased from 1,114.84 index points Friday, February 17th to 1,113.91 index points Monday, February 20th. It was down 0.09 per cent d/d and up 23.21 per cent y/y.

OMXV (of Vilnius) decreased from 563.25 index points Friday, February 17th to 560.68 index points Monday, February 20th. It was down 0.46 per cent d/d and up 16.39 per cent y/y.

PX (of Prague) increased from 970.01 index points Friday, February 17th to 973.32 index points Monday, February 20th. It was up 0.34 per cent d/d and up 9.78 per cent y/y.

SAX (of Bratislava) decreased from 311.82 index points Friday, February 17th to 307.77 index points Monday, February 20th. It was down 1.30 per cent d/d and down 1.51 per cent y/y.

SOFIX (of Sofia) increased from 597.01 index points Friday, February 17th to 608.28 index points Monday, February 20th. It was up 1.89 per cent d/d and up 36.21 per cent y/y.

UX (of Kyiv) decreased from 920.79 index points Friday, February 17th to 917.04 index points Monday, February 20th. It was down 0.41 per cent d/d and up 46.31 per cent y/y.

WIG20 (of Warsaw) increased from 2,188.30 index points Friday, February 17th to 2,192.79 index points Monday, February 20th. It was up 0.21 per cent d/d and up 17.91 per cent y/y.

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