Fitch: Croatia with BB+ rating and positive outlook

(Gideon Benari, www.solvencyiiwire.com, CC BY)

Ukraine: inflation slows down to 1.4 per cent in November’18

Moldova: President suspended for the 5th time

Croatia

The international rating agency Fitch affirmed Croatia’s BB+ long-term foreign- and local-currency issuer default ratings (IDRs). The positive outlook remained unchanged. The agency expects that “the combination of persistent primary budget surpluses, low interest and healthy GDP growth will contribute to a continued marked reduction in gross general government debt,” the SEE News Corporate Wire reports. A decline of Croatia’s external debt is expected (due to continuing current account surpluses, supplemented by net equity FDI and EU capital inflows).

According to Fitch, in 2018 Croatia will outperform its budget target for the 3rd consecutive year (the government’s deficit target is 0.5 per cent of GDP, and Fitch’s forecasts 0.2 per cent of GDP).

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Ukraine

According to the State Statistics Service the inflation rate decreased to 1.4 per cent in November 2018 (from 1.7 per cent in October 2018). At the same time, inflation slowed down 1.9 per cent since the beginning of the year. In annual terms the inflation rate grew 10 per cent in November 2018.

The Interfax explains that in 2017 the consumer prices were up 13.7 per cent, while in 2016 they’re up 12.4 per cent. The figures were significantly lower than in 2015 (inflation rate at 43.3 per cent) and in 2014 (inflation rate at 24.9 per cent).

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Moldova

On December 10th, 2018, Moldova’s President Igor Dodon has been suspended from performing his duties by the Constitutional Court — RFERL.org informs. This is the next stage of a dispute over legislation that Mr. Dodon has refused to sign. Now it’s up to Andrian Candu, the parliament speaker, to sign bills. The RFERL points out that Moldova’s President has just been suspended for the fifth time over the past years.

The ruling “came after a request from the Democratic Party lawmakers, who argued that Dodon failed to fulfil his constitutional obligations by repeatedly refusing to sign 5 bills that parliament had passed several times,” writes RFERL.org.  The new laws included i.a.: a new code of audio-visual services, and a bill approving the construction of a new US Embassy.

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What’s up in indexes

BET (of Bucharest) decreased from 8,684.75 index points Friday, December 7th to 8,565.84 index points Monday, December 10th. It’s down 1.43 per cent d/d and up 12.49 per cent y/y.

BUX (of Budapest) decreased from 39,384.56 index points Friday, December 7th to 39,238.44 index points Monday, December 10th. It’s down 0.37 per cent d/d and up 4.42 per cent y/y.

CROBEX (of Zagreb) decreased from 1,714.89 index points Friday, December 7th to 1,705.20 index points Monday, December 10th. It’s down 0.57 per cent d/d and down 5.81 per cent y/y.

OMXR (of Riga) decreased from 961.15 index points Friday, December 7th to 959.27 index points Monday, December 10th. It’s down 0.20 per cent d/d and down 4.83 per cent y/y.

OMXT (of Tallinn) decreased from 1,204.11 index points Friday, December 7th to 1,190.10 index points Monday, December 10th. It’s down 1.16 per cent d/d and down 2.70 per cent y/y.

OMXV (of Vilnius) decreased from 635.45 index points Friday, December 7th to 630.96 index points Monday, December 10th. It’s down 0.71 per cent d/d and down 4.31 per cent y/y.

PX (of Prague) decreased from 1,040.37 index points Friday, December 7th to 1,029.11 index points Monday, December 10th. It’s down 1.08 per cent d/d down 2.74 per cent y/y.

SAX (of Bratislava) decreased from 335.46 index points Friday, December 7th to 334.99 index points Monday, December 10th. It’s down 0.14 per cent d/d and up 3.93 per cent y/y.

SOFIX (of Sofia) decreased from 595.32 index points Friday, December 7th to 593.16 index points Monday, December 10th. It’s down 0.36 per cent d/d and down 10.87 per cent y/y.

UX (of Kyiv) closed at 1,793.69 index points Monday, December 10th. It’s the same result as Friday’s. It’s 0 per cent change d/d and up 40.17 per cent y/y.

WIG20 (of Warsaw) decreased from 2,281.54 index points Friday, December 7th to 2,242.10 index points Monday, December 10th. It’s down 1.73 per cent d/d and down 6.92 per cent y/y.

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