Hungary’s 2019 draft budget with a deficit of 1.8 per cent GDP

House of Parliament, Budapest, Hungary (Chris Chabot, CC BY-NC)

Ukraine with the High Anti-Corruption Court

Poland: Higher minimum wage in 2019

Hungary

The Budapest Business Journal reports about Hungary’s 2019 draft budget. The planned deficit is 1.8 per cent of GDP (compared with 2.4 per cent projected for 2018). Hungarian government plans to reduce the state debt ratio to 70.3 per cent (from 72.9 per cent at the end of 2018). Also, it foresees the structural deficit at 1.7 per cent of 2019 GDP.

The portal quotes Hungary’s Prime Minister Victor Orbán describing the 2019 budget as “robust” and “earthquake proof”. The draft raises fiscal reserves by 50 per cent y/y. “Itʼs not raining yet… but clouds are in the sky,” – Mr. Orbán said. The portal informs that government will submit the bill to Parliament on June 13th.

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Ukraine

Ukraine introduced the High Anti-Corruption Court. The Interfax reports that on June 9th Chairman of the Verkhovna Rada, Andriy Paribiy, signed the law on creation of the High Anti-Corruption court.

As reported, the law was consulted with the representatives of the International Monetary Fund (IMF). Some clauses were changed as a result of these consultations – for e.g. the law determining the procedure for holding a competition for the selection of judges (the decisive role of the public council of international experts in that matter).

The bill was submitted to the parliament by President Petro Poroshenko.

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Poland

The Polish Radio informs that the government plans to increase the country’s minimum wage. As reported, Poland’s labor ministry announced that it could be PLN2,250 (EUR525). The minimum hourly pay could be PLN14.7.

According to the Central Statistical Office, currently the minimum wage is PLN2,100, and minimum hourly pay is PLN13.7. The average monthly wage in Q1’18 was PLN4,622.

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What’s up in indexes

BET (of Bucharest) decreased from 8,277.79 index points Thursday, June 7th to 8,253.12 index points Friday, June 8th. It’s down 0.30 per cent d/d and down 4.85 per cent y/y.

BUX (of Budapest) decreased from 37,401.25 index points Thursday, June 7th to 36,738.31 index points Friday, June 8th. It’s down 1.77 per cent d/d and up 4.16 per cent y/y.

CROBEX (of Zagreb) increased from 1,830.83 index points Thursday, June 7th to 1,831.45 index points Friday, June 8th. It’s up 0.03 per cent d/d and up 1.29 per cent y/y.

OMXR (of Riga) decreased from 1,047.21 index points Thursday, June 7th to 1,038.18 index points Friday, June 8th. It’s down 0.86 per cent change d/d and up 21.97 per cent y/y.

OMXT (of Tallinn) increased from 1,250.58 index points Thursday, June 7th to 1,254.18 index points Friday, June 8th. It’s up 0.29 per cent d/d and up 11.31 per cent y/y.

OMXV (of Vilnius) increased from 710.12 index points Thursday, June 7th to 711.56 index points Friday, June 8th. It’s up 0.20 per cent d/d and up 19.69 per cent y/y.

PX (of Prague) decreased from 1,078.38 index points Thursday, June 7th to 1,077.37 index points Friday, June 8th. It’s down 0.09 per cent d/d and up 7.07 per cent y/y.

SAX (of Bratislava) decreased from 337.83 index points Thursday, June 7th to 326.52 index points Friday, June 8th. It’s down 3.35 per cent d/d and up 5.25 per cent y/y.

SOFIX (of Sofia) increased from 631.71 index points Thursday, June 7th to 631.83 index points Friday, June 8th. It’s up 0.02 per cent d/d and down 6.73 per cent y/y.

UX (of Kyiv) decreased from 1,646.32 index points Thursday, June 7th to 1,610.73 index points Friday, June 8th. It’s down 2.16 per cent d/d and up 58.49 per cent y/y.

WIG20 (of Warsaw) decreased from 2,270.75 index points Thursday, June 7th to 2,250.06 index points Friday, June 8th. It’s down 0.91 per cent d/d and down 3.85 per cent y/y.

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