Lithuanians do not save money

Vilnius, Lithuania (Paul Jeannin, CC BY-NC-ND)

Hungary: government deficit surpasses the full-year target

Ukraine’s PM: an average wage should be EUR319-320 by the year end

Lithuania

Lithuanians not only don’t save but they borrow it – the Baltic Course quotes Laura Gudauskaite, an economist of the Bank of Lithuania. As reported, the latest Eurostat figures shows that the saving rate in Lithuania stands at minus 0.5 per cent. It means that Lithuanians are the least saving nation among the EU member states. For example in Latvia the rate is 2.7 per cent, in Estonia it’s 11.3 per cent and the EU average is 10.8 per cent.

The portal points out that the saving rate is calculated by “subtracting costs from their income”.

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Hungary

In July 2018, Hungarian government deficit reached 109.6 per cent of full-year target – the data from the Ministry of Finance shows. As The Budapest Business Journal reports, the cashflow-based general government deficit, excluding local councils, stood at HUF1.491 trillion (EUR4.6bn) at the end of the month. The central budget deficit reached HUF1.557 trillion.

The portal also informs about revenues from VAT and PIT. In the period January – July 2018 it reached respectively HUF258.7bn and HUF149bn. At the same time payroll tax revenues climbed by HUF163.7 bln.

As reported, “the main budgetary trends for July continued to be stable and balanced economic growth, with the government focusing on helping families and not on raising taxes”. The full-year deficit target remains 2.4 per cent of GDP. The government expects that the economic growth will exceed 4 per cent in 2018.

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Ukraine

The Interfax informs that Ukraine’s Prime Minister Volodymyr Groysman expects an average wage increase up to UAH10,000 (EUR319-320) by the end of 2018. As reported, now average salary is a bit more than UAH8,000. According to Mr. Groysman, “the whole economic policy of the government contributed to achieving this goal, including the deregulation and the fight against shadow economy”.

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What’s up in indexes

BET (of Bucharest) increased from 8,188.44 index points Monday, August 6th to 8,189.94 index points Tuesday, August 7th. It’s up 0.02 per cent d/d and down 2.19 per cent y/y.

BUX (of Budapest) decreased from 37,259.80 index points Monday, August 6th to 37,087.75 index points Tuesday, August 7th. It’s down 0.46 per cent d/d and up 0.40 per cent y/y.

CROBEX (of Zagreb) increased from 1,827.88 index points Monday, August 6th to 1,838.02 index points Tuesday, August 7th. It’s up 0.55 per cent d/d and down 0.44 per cent y/y.

OMXR (of Riga) decreased from 1,021.18 index points Monday, August 6th to 1,009.50 index points Tuesday, August 7th. It’s down 1.14 per cent d/d and up 0.55 per cent y/y.

OMXT (of Tallinn) decreased from 1,258.16 index points Monday, August 6th to 1,245.07 index points Tuesday, August 7th. It’s down 1.04 per cent d/d and up 0.28 per cent y/y.

OMXV (of Vilnius) increased from 713.72 index points Monday, August 6th to 714.03 index points Tuesday, August 7th. It’s up 0.04 per cent d/d and up 12.56 per cent y/y.

PX (of Prague) decreased from 1,090.58 index points Monday, August 6th to 1,087.50 index points Tuesday, August 7th. It’s down 0.28 per cent d/d and up 5.26 per cent y/y.

SAX (of Bratislava) increased from 317.75 index points Monday, August 6th to 330.17 index points Tuesday, August 7th. It’s up 3.91 per cent d/d and down 3.07 per cent y/y.

SOFIX (of Sofia) increased from 639.40 index points Monday, August 6th to 640.21 index points Tuesday, August 7th. It’s up 0.13 per cent d/d and down 11.60 per cent y/y.

UX (of Kyiv) increased from 1,645.25 index points Monday, August 6th to 1,651.89 index points Tuesday, August 7th. It’s up 0.40 per cent d/d and up 44.74 per cent y/y.

WIG20 (of Warsaw) increased from 2,295.82 index points Monday, August 6th to 2,304.11 index points Tuesday, August 7th. It’s up 0.36 per cent d/d and down 3.52 per cent y/y.

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