Moldovans are still angry

Protest in Chisinau (CC BY-SA Tolea93)

More money from taxes in Estonia.

Average net wage in Romania up.

Bulgaria will invests in its poorest regions.

Moldova

After the resignation of Valeriu Strelet, the Prime Minister of Moldova, on October 29th there were hopes that political situation will stabilize in the country. But under the new interim PM Gheorghe Brega people are disappointed too. Few days ago thousands of people protested against the interim government in Moldova’s capital Chisinau as well as in other cities. Moldovans are fed up with corruption. They are demanding better governance.

The protests started actually in September run by the Dignity and Truth civic movement. In autumn people protested against the nearly USD1bn “that disappeared from three banks shortly before the November 2014 parliamentary elections” – reads the article on the website of Radio Free Europe.

Interim Prime Minister Gheorghe Brega is concerned about the country’s national security.

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Estonia

While Hungarian and Czech officials call EU to fight tax evasion more intensely, Estonia improves its tax receipts. As Financial Ministry of Estonia says, the central government tax revenues without receipts from non-transferable taxes rose by 8.6 per cent y/y in the period of January to November 2015. That means tax revenues comprised 93.9 per cent of the annual target.
CEEMarketWatch reminds that tax revenues are usually higher in December than in other months of the year. So the government can even exceed the tax revenues plan in 2015.

Central government tax revenues

Nov

Jan-Nov

EUR mn

% y/y

EUR mn

% y/y

Execution

Income tax

49.9

-19.0%

690.4

13.8%

109.7%

    Personal income tax

33.5

-8.1%

294.2

-4.5%

95.2%

    Corporate income tax

16.4

-34.9%

396.2

32.8%

123.6%

Social security tax

198.6

6.8%

2,188.0

7.3%

92.3%

VAT

160.4

2.7%

1,717.3

10.3%

92.1%

Excise taxes

74.7

5.9%

799.7

4.8%

90.6%

    Alcohol excise

18.4

-1.3%

202.0

2.9%

84.2%

    Tobacco excise tax

15.0

4.1%

169.3

2.2%

91.5%

    Fuel excise

37.8

9.4%

396.1

6.7%

93.4%

    Electricity excise

3.0

2.1%

31.2

3.6%

94.2%

Gambling tax

2.1

5.9%

20.9

-1.5%

92.2%

Customs duties

2.5

8.1%

31.1

13.3%

102.9%

Total

488.4

2.0%

5,452.5

8.6%

93.9%

Source: Estonian FinMin

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Romania

Yesterday we reported on earnings in Bulgaria. Today – good news from Romania. The average net salary in the country in October 2015 reached RON1.871 (approx. EUR417.4). It’s up 2.1 per cent compared with September 2015. And it’s up 9.7 per cent y/y.

Also the average gross salary grew by 2.1 per cent m/m. In October it was EUR579.

The best paid jobs are those in the IT service sector – IT specialists earn about EUR1000 monthly. The worst paid are those of hotels and restaurants – people working there earn about EUR242 monthly. Salaries grew in most sectors in October, as employees received special bonuses or amounts from the net profit. The average net salary recorded the highest increase of 8.5 per cent in the insurance sector, followed by a 6.7 per cent growth in the pharmaceutical production” – Romania Insider reads.

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Bulgaria

Bulgaria will invest as much as BGN5bn (EUR2.5bn) to help its poorest regions thrive. The new investments programme targets the northwest region, the Strandzha-Sakar mountain range, the Rhodope mountains, the mountainous and border regions. It include 51 municipalities inhabited by a third of the Bulgarian population – reports Novinite.com. “The aim is to attract not only long-term investments, but also to retain young people in these regions, bTV station informs” – the portal reads. The investmens will be last up to 10 years.

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What’s up in indexes?

All but BUX and UX dropped, but Tuesday, December 8th was the worst for WIG20 (Warsaw). The index lost 2.68 per cent.

BUX (of Budapest) was up 0.03 per cent on Tuesday, December 8th closing at 23324.90 index points. The previous close was at 23319.06 index points. And from year-end it grew by 40.22 per cent.

BET (of Bucharest Stock Exchange) decreased to 7068.27 index points dropping by 0.46 per cent. On Monday it closed at 7101.28 index points. From year-end it lost 0.21 per cent.

PX (of Prague) fell from 945.99 index points Monday to 930.67 index points Tuesday. It means it dropped by 1.62 per cent d/d and 1.69 per cent from year-end.

WIG20 (of Warsaw) lost 2.68 per cent d/d and dropped by 21.64 per cent from year-end. On Tuesday it closed at 1814.88 index points while the day before it closed at 1864.92 index points.

OMXT (of Tallinn) lost 0.56 per cent decreasing from 908.16 index points Monday to 903.10 index points Tuesday. But from year-end it’s up 19.61 per cent.

OMXR (of Riga) lost 0.46 per cent on Tuesday, December 8th. It closed at 581.05 index points. The previous close was at 583.75 index points. From year-end it’s up 42.40 per cent.

OMXV (of Vilnius) fell slightly – from 486.27 index points Monday to 485.61 index points Tuesday. So it dropped by 0.14 per cent d/d but from year-end it grew by 7.48 per cent.

SAX (of Bratislava) dropped by 1.61 per cent this time. On Tuesday it closed at 298.84 index points. On Monday it closed at 303.72 index points. From year-end it’s up 34.42 per cent.

SOFIX (of Sofia) lost 0.14 per cent – decreasing from 435.26 index points Monday to 434.67 index points Tuesday. From year-end it dropped by 16.75 per cent.

UX (of Kyiv) grew by 0.02 per cent d/d ­– from 700.07 index points Monday to 700.19 index points Tuesday. From year-end it dropped by 32.24 per cent.

CROBEX (of Zagreb Stock Exchange) lost 0.19 per cent on Tuesday, December 8th.  It closed at 1679.34 index points. The previous close was at 1682.51 index points. From year-end it dropped by 3.79 per cent.

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