Moldova will get USD110m from IMF and World Bank by the end of 2016

Kishinev, Moldova (Wulf Willis, CC BY-NC-ND)

Bulgarians spent more than EUR2bn spent with bank cards

Profits of Romanian companies up 42 per cent

Hungary’s surplus reach EUR185.3m

Moldova

Moldova will have access to funds of IMF, development funds of the World Bank and the European Union worth more than USD110m, by the end of 2016. Pavel Filip, the Prime Minister, has informed during his speech on the Day of Worker of Agriculture and Processing Industry. According to Mr. Filip, the funds have been made available as the International Monetary Fund (IMF) approved a new program for Moldova.

Infomarket.md quotes Mr. Filip saying that the funds: “will be spent to boost the reforms, and, which is very important, to back the development programs, including the agricultural projects”.

Infomarket.md also reminds that by the end of 2016 Moldova expects to get USD45m under the World Bank’s DPO-2 program to cover the budget deficit and about EUR55m from the European Union.

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Bulgaria

Bulgarians spent nearly BGN4bn (EUR2.04bn) with bank cards in 2015. Experts predict the total volume of transactions will grow further by an average of BGN1.5bn per year. According to Novinite.com Bulgarians own nearly 8 million cards. The holders of “plastics” are mostly people that are 30 to 45 years old, living in cities, more frequently women.

“There are 7 debit cards to one credit card. That is why 9 out of 10 transactions are made with debit cards. The number of transactions with credit cards is also growing,” Novite.com writes.  

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Romania

Gross profits of Romanian companies reached EUR11.2bn in 2015. It is up 42.8 per cent compared to 2014. According to the National Statistics Institute (INS) of Romania, the companies in the services sector posted a gross profit of around EUR3.75bn. The sector had the largest number of firms (almost 213,900) which made a turnover of EUR49bn.

As Romania Insider reports, the trade companies (about 172,000 firms) posted gross profits of EUR3.46bn. The turnover was EUR104.7bn. At the same time industry (with some 54,000 companies) posted total gross profits of EUR3.2bn, generating a total turnover of EUR93.9bn, and construction sector (about 48,300 companies) earned profits of EUR0.81bn, with turnover of close to EUR18bn.

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Hungary

„Hungary posted a cash flow budget surplus of HUF57.3bn (EUR185.3m) at the end of October 2016, marking the first time the central budget finished October in the black,” The Daily News Hungary reports after the economy ministry.

Economy Minister Mihaly Varga informed the budget surplus, which excludes local councils, came to HUF59.7bn in October alone. The central budget posted a deficit of HUF32.5bn at the end of the month, while the social insurance funds and separate state funds had surpluses of HUF8.4bn and HUF81.4bn forints, respectively.

The Daily News Hungary informs when the first reading of the October data was released, Mr. Varga said tax revenue was higher than expected, with corporate tax revenue up HUF131.6bn and VAT revenue HUF80bn higher compared with the base period.

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What’s up in indexes

BUX (of Budapest) dropped by 0.02 per cent – decreasing from 30109.02 index points Friday, November 18th to 30103.57 index points Monday, November 21st. From year-end it’s up 25.85 per cent.

BET (of Bucharest Stock Exchange) was up 0.18 per cent d/d – increasing from 6824.19 index points Friday, November 18th to 6840.88 index points Monday, November 21st. From year-end it dropped by 2.30 per cent.

PX (of Prague) dropped by 0.05 per cent d/d and by 7.56 per cent from year-end. It decreased from 884.41 index points Friday, November 18th to 884.00 index points Monday, November 21st.

WIG20 (of Warsaw) was up 1.77 per cent – increasing from 1725.74 index points Friday, November 18th to Monday, November 21st. From year-end it dropped by 5.53 per cent.

OMXT (of Tallinn) dropped by 0.08 per cent – falling from 1032.50 index points Friday, November 18th to 1031.72 index points Monday, November 21st. From year-end it’s up 14.76 per cent.

OMXR (of Riga) dropped by 0.61 per cent – falling from 741.29 index points Thursday, November 17th to 736.79 index points Monday, November 21st. From year-end it’s up 23.97 per cent.

OMXV (of Vilnius) dropped by 0.06 per cent – decreasing from 560.10 index points Friday, November 18th to 559.74 index points Monday, November 21st. From year-end it’s up 15.18 per cent.

SAX (of Bratislava) closed at 314.37 index points Monday, November 21st. So it’s zero per cent change compared with Friday, November 18th. From year-end its’ up 7.53 per cent.

SOFIX (of Sofia) increased from 530.91 index points Friday, November 18th to 539.61 index points Monday, November 21st. So it’s up 1.64 per cent d/d. From year-end it’s up 17.08 per cent.

UX (of Kyiv) dropped by 0.22 per cent – falling from 805.29 index points Friday, November 18th to 803.49 index points Monday, November 21st. From year-end it’s up 17.15 per cent from year-end.

CROBEX (of Zagreb) was up 0.22 per cent – increasing from 1978.63 index points Friday, November 18th to 1982.94 index points Monday, November 21st. From year-end it’s up 17.36 per cent.

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