Estonia is the least corrupted country in the CSE

(Transparency International, Public domain)

Experts raises Hungary’s 2019 GDP forecast to 3,4 per cent y/y

Czech-Ukrainian forum to promote trade between two countries

Central and Southeast Europe

Among all CSE countries Estonia is the least corrupted country, ranked as 18th in the 2018 Corruption Perceptions Index (CPI) released by Transparency International (TI). The index ranks 180 countries by their perceived levels of public sector corruption and uses the scale of 0-100, with 0 as the most corrupted and 100 as the least corrupted.

The worst among EU countries is Bulgaria with the score of 42, followed by Hungary (46), which has had the sharpest decline in recent years. Romania and Croatia also declined and have scores, respectively, 47 and 48. Poland’s score has not changed (60), while Czech Republic (59) was classified by Transparency International as a “country to watch”, which means possible increase of corruption.

Only two CSE countries that are not EU members have score higher than the global average of 43. Montenegro has 45 and Belarus has 44. TI points out that Albania, despite its recent decline, is the biggest improver, while Russia and Serbia are the biggest decliners. TI also thinks that CPI may worsen in Bosna and Herzegovina, Ukraine and Macedonia.  

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Hungary

Economic research institute GKI forecasts Hungary’s GDP growth of 3,4 per cent, up from 3.2 per cent projected in December. GKI analysts pointed out that improving productivity, efficiency and competitiveness may offset any challenge to growth due to the labor shortage.

Meantime, the World Bank forecasts Hungary’s GDP growth to reach 3.2 per cent in 2019 in its latest Global Economic Prospects report. “Risks are centered on a faster-than-expected pick-up in wages, further eroding cost competitiveness, and unhinging inflation expectations. Hungary also remains vulnerable to any shock to demand for vehicles in its main export market, Germany”, The World Bank warns. Hungary’s government GDP growth target remains unchanged: 3.9 per cent y/y.

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Ukraine

Czech Foreign Minister Tomáš Petříček announced the creation of a special Czech-Ukrainian forum, which will focus on mutual economic cooperation. Since 2016, trade ties between Czech Republic and Ukraine have been growing, boosted by the 2017 deal between the EU and Ukraine which allows Ukrainian citizens to travel to the EU without visas. The Czech-Ukrainian trade is close to EUR2bn per year.

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What’s up in indexes

BET (of Bucharest) decreased from 6994.69 index points Monday, January 28th to 6942.06 index points Tuesday, January 29th. It’s down 0.72 per cent d/d and down 17.59 per cent y/y.

BUX (of Budapest) decreased from 41332.00 index points Monday, January 28th to 41146.00 index points Tuesday, January 29th. It’s down 0.45 per cent d/d and up 1.59 per cent y/y.

CROBEX (of Zagreb) decreased from 1,760.28 index points Monday, January 28th to 1,758.02 index points Tuesday, January 29th. It’s down 0.13 per cent d/d and down 3.72 per cent y/y.

OMXR (of Riga) increased from 983.26 index points Monday, January 28th to 983.65 index points Tuesday, January 29th. It’s up 0.04 per cent d/d and down 5.02 per cent y/y.

OMXT (of Tallinn) increased from 1222.14 index points Monday, January 28th to 1229.78 index points Tuesday, January 29th. It’s up 0.63 per cent d/d and down 4.61 per cent y/y.

OMXV (of Vilnius) increased from 646.07 index points Monday, January 28th to 646.29 index points Tuesday, January 29th. It’s up 0.03 per cent d/d and down 11.31 per cent y/y.

PX (of Prague) increased from 1025.14 index points Monday, January 28th to 1029.60 index points Tuesday, January 29th. It’s up 0.44 per cent d/d and down 8.98 per cent y/y.

SAX (of Bratislava) closed at 331.51 index points Tuesday, January 29th. It’s the same result as Monday’s. It’s 0 per cent change d/d and down 0.94 per cent y/y.

SOFIX (of Sofia) increased from 573.50 index points Monday, January 28th to 573.60 index points Tuesday, January 29th. It’s up 0.02 per cent d/d and down 19.15 per cent y/y.

UX (of Kyiv) closed at 1,710.65 index points Tuesday, January 29th. It’s the same result as Monday’s. It’s 0 per cent change d/d and up 16.92 per cent y/y.

WIG20 (of Warsaw) increased from 2370.62 index points Monday, January 28th to 2373.30 index points Tuesday, January 29th. It’s up 0.11 per cent d/d and down 8.49 per cent y/y.

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