Macedonia is the CSE leader in Doing Business 2019

Skopje, Macedonia (blogdroed, CC BY-NC-ND)

EBRD: Estonia’s growth slower than expected

Polish-German intergovernmental talks in Warsaw

Central and Southeast Europe

Macedonia ranks the 10th in the World Bank Doing Business 2019 report. It’s the best result achieved by the country from the Central and Eastern Europe. Lithuania (the 14th) and Estonia (the 16th) follows Macedonia. All the 3 countries improved their results y/y.

The other CEE countries in the top 50 countries that improved their positions are: Latvia (the 19th place), the Czech Republic (the 35th place), Slovenia (the 40th place), Slovakia (the 42nd place), Kosovo (the 44th place), Moldova (the 47th place), Serbia (the 48th place) and Montenegro (the 50th place). Poland is the 33rd and its position decreased from the 27th position in last year’s edition.

The World Bank’s Doing Business Index “provides objective measures of business regulations for local firms in 190 economies and selected cities at the subnational level”. The top 10 countries are: New Zealand, Singapore, Denmark, Hong Kong, South Korea, Georgia, Norway, the United States and the United Kingdom. The countries with the worst results are: Libya, Yemen, Venezuela, Eritrea and Somalia.

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Estonia

The European Bank for Reconstruction and Development (EBRD) informed that Estonia’s economic growth in 2018 will be lower than expected. It announced that the pace of growth will be 3.6 per cent in 2018 and 3 per cent in 2019.

This is due to “poor corporate investment”. “Labour shortages have been increasingly seen as a major constraint on business investment and exports, in particular in relatively less productive sectors,” EBRD explained.

EBRD also noted that in the Central Europe and Baltics as a whole, growth accelerated in the H1’18 to 4.7 per cent, from last year’s 4.4 per cent “due to consumption growth, which was led by salaries increase”.

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Poland

Polish Prime Minister Mateusz Morawiecki and German Chancellor Angela Merkel are meeting for talks about bilateral ties, European Union policy, energy and security. The Polish Radio reports that the Polish-German intergovernmental talks are usually held annually and are hosted alternately by the two countries.

Earlier this week, Polish Foreign Minister Jacek Czaputowicz said the planned Nord Stream 2 pipeline would be one of the most important issues during the talks.

Poland has long been a vocal opponent of the planned pipeline to connect Russia and Germany via the Baltic Sea, thus bypassing the Baltic States, Poland and Ukraine.

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What’s up in indexes

BET (of Bucharest) increased from 8,538.47 index points Wednesday, October 31st to 8,550.34 index points Thursday, November 1st. It’ up 0.37 per cent d/d and up 9.76 per cent y/y.

Thursday, November 1st was a non-trading day at Budapest Stock Exchange. BUX (of Budapest) closed at 37,155.21 index points Wednesday, October 31st. It’s down 6.20 per cent y/y.

Thursday, November 1st was a non-trading day at Zagreb Stock Exchange. CROBEX (of Zagreb) closed at 1,779.13 index points Wednesday, October 31st. It’s down 2.77 per cent y/y.

OMXR (of Riga) increased from 952.60 index points Wednesday, October 31st to 954.71 index points Thursday, November 1st. It’s up 0.22 per cent d/d and down 6.85 per cent y/y.

OMXT (of Tallinn) increased from 1,180.57 index points Wednesday, October 31st to 1,192.11 index points Thursday, November 1st. It’s up 0.98 per cent d/d and down 2.24 per cent y/y.

Thursday, November 1st was a non-trading day at Nasdaq Vilnius. OMXV (of Vilnius) closed at 651.01 index points Wednesday, October 31st. It’s down 1.46 per cent y/y.

PX (of Prague) increased from 1,066.61 index points Wednesday, October 31st to 1,070.59 index points Thursday, November 1st. It’s up 0.37 per cent d/d up 0.27 per cent y/y.

Thursday, November 1st was a non-trading day at Bratislava Stock Exchange. SAX (of Bratislava) closed at 334.06 index points Wednesday, October 31st. It’s up 4.23 per cent y/y.

SOFIX (of Sofia) decreased from 596.81 index points Wednesday, October 31st to 596.58 index points Thursday, November 1st. It’s down 0.04 per cent d/d and down 11.08 per cent y/y.

UX (of Kyiv) increased from 1,740.81 index points Wednesday, October 31st to 1,743.54 index points Thursday, November 1st. It’s up 0.16 per cent d/d and up 37.79 per cent y/y.

Thursday, November 1st was a non-trading day at Warsaw Stock Exchange. WIG20 (of Warsaw) closed at 2,151.88 index points Wednesday, October 31st. It’s down 14.77 per cent y/y.

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