Poland: Insurers will pay EUR93.5m in the aftermath of storms

(CC BY-SA Pawel Kabanski)

Bulgargaz: price of natural gas to drop from October 1st

Hungary: gross wages up 14.4 per cent in June

Poland

The storms that affected Poland in the mid-August have caused severe damage to a number of households. It is estimated 3,688 buildings were destroyed and 44,500 hectares of forest were devastated. For the households in northern Poland it will take months or years to recover. As the Polish Radio and the Rzeczpospolita daily report, it is still too early to calculate the total loss. Only 50 to 70 per cent of the properties were insured.

The newspaper estimated that insurers operating in the country will pay more than PLN400m (EUR93.5m) in compensation for damages.

Victims of the storms will also get aid from the government.

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Bulgaria

Bulgarian natural gas distributor Bulgargaz predicts 6 per cent decline in the price of natural gas from October 1st. As Novinte.com reports, the estimated price for Q4’17 is BGN347.99 (EUR178) per 1000 cubic meters (excluding transport, excise tax and VAT). So the price will drop by BGN22.22 (EUR11.25) per 1000 cubic meters compared to the current price. The decrease is due to a lower exchange rate of the BGN to USD.

The final proposal of the gas price for Q4’2017 will be submitted to the Energy and Water Regulatory Commission by September 8th.

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Hungary

Hungarians earn more and more. Even those who are not covered by the public work programs. As the Budapest Business Journal reports, in June 2017 the average gross monthly wage was up 14.4 per cent y/y. It reached HUF297.251 (EUR977). Also net wages grew – reaching HUF197,672. The portal explains, after Hungarian Central Statistical Office (KSH), that this is mostly due to “a pay increases in certain segments of the public sector and in state-owned public service provider companies”.

There are 169,000 Hungarians included in public work programs. Last year the number of fostered workers was 218,200.

Excluding those Hungarians who are fostered workers, the average gross wage grew by 12.9 per cent y/y in June 2017 – to HUF311,388 (EUR1024.11).

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What’s up in indexes

BET (of Bucharest) increased from 8,329.36 index points Friday, August 18th to 8,317.95 index points Monday, August 21st. It’s up 0.18 per cent d/d and up 21.00 per cent y/y.

BUX (of Budapest) increased from 36,969.15 index points Friday, August 18th to 37,097.85 index points Monday, August 21st. It’s up 0.35 per cent d/d and up 34.54 per cent y/y.

CROBEX (of Zagreb) decreased from 1,901.02 index points Friday, August 18th to 1,898.40 index points Monday, August 21st. It’s down 0.14 per cent and up 5.89 per cent y/y.

OMXR (of Riga) decreased from 1,014.09 index points Friday, August 18th to 1,013.02 index points Monday, August 21st. It’s down 0.11 per cent d/d and up 57.91 per cent y/y.

OMXT (of Tallinn) increased from 1,254.65 index points Friday, August 18th to 1,257.11 index points Monday, August 21st. It’s up 0.20 per cent d/d and up 26.25 per cent y/y.

OMXV (of Vilnius) decreased from 651.59 index points Friday, August 18th to 650.98 index points Monday, August 21st. It’s down 0.09 per cent d/d and up 21.25 per cent y/y.

PX (of Prague) decreased from 1,033.04 index points Friday, August 18th to 1,032.04 index points Monday, August 21st. It’s down 0.10 per cent d/d and up 21.95 per cent y/y.

SAX (of Bratislava) closed at 322.93 index points Monday, August 21st. It’s zero per cent d/d and up 3.10 per cent y/y.

SOFIX (of Sofia) decreased from 722.69 index points Friday, August 18th to 720.71 index points Monday, August 21st. It’s down 0.27 per cent d/d and up 53.16 per cent y/y.

UX (of Kyiv) decreased from 1,125.89 index points Friday, August 18th to 1,125.32 index points Monday, August 21st. It’s down 0.05 per cent d/d and up 62.26 per cent y/y.

WIG20 (of Warsaw) increased from 2,259.87 index points Friday, August 18th to 2,377.28 index points Monday, August 21st. It’s up 0.74 per cent d/d and up 32.05 per cent y/y.

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