Poland with the sixth-lowest unemployment rate in EU

Poznań, Poland (MOs810, CC BY-SA)

EU and Gazprom to end a dispute over the monopoly

Moldova with a development strategy for the non-banking financial market

Poland

The Polish Radio reports, after the Eurostat, that Poland’s unemployment rate is the sixth-lowest in the EU. In February 2018 the unemployment rate was 4.4 per cent. A year earlier it was 5.2 per cent. In January 2018 the rate was 4.5 per cent. The data from Eurostat are more optimistic than the figures from the Polish Central Statistical Office (GUS) which uses a different methodology. According to GUS, the unemployment rate was 6.8 per cent in February 2018 and 6.9 per cent in January 2018.

The Eurostat also informed that the EU average was 7.1 per cent in February 2018 and 7.2 per cent in January 2018. The situation in the labor market improves as in February 2017 the unemployment rate was 8 per cent.

Czech Republic is a country with the lowest unemployment rate (2.4 per cent in February 2018). The biggest unemployment was in Greece (20.8 per cent in February 2018).

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Russia

Russian Gazprom will probably avoid a fine of up to 10 per cent of its global turnover, as Reuters informs. The EU and Gazprom have reached an agreement, ending their dispute over Gazprom’s dominant position in upstream gas supply markets in the CSE Member States.

As reported, the management board of Gazprom agreed to “reform pricing and allow competitors to gain access to the area”. The company also proposed to “drop the contractual restrictions, which prohibit the gas recipients from reselling it”.

In 2012 the European Commission has opened formal proceedings to investigate whether Gazprom might be hindering competition on the CSE gas markets, in breach of EU antitrust rules. The EC and Gazprom are supposed to sign a settlement in April 2018.

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Moldova

The IPN agency informs that Moldovan cabinet of Pavel Filip approved the strategy for developing the non-banking financial market for 2018-2022. According to the strategy in the next 5 years microfinance organizations should provide loans amounting to MDL7.6bn. Also, the rules regulating the activity of the non-banking lending market are to be adjusted to the European standards. As reported, “the surveillance of microfinance organizations will be improved based on risk prevention and management” and “special attention will be devoted to the informing of the population about the opportunities of borrowing money from entities of the non-banking financial market”.

The portal points out that the GDP penetration rate of the non-banking financial market in 2016 was only 5.09 per cent.

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What’s up in indexes

BET (of Bucharest) decreased from 8,742.58 index points Tuesday, April 3rd to 8,747.58 index points Wednesday, April 4th. It’s down 0.20 per cent d/d and up 7.10 per cent y/y.

BUX (of Budapest) decreased from 37,868.00 index points Tuesday, April 3rd to 37,275.42 index points Wednesday, April 4th. It’s down 1.56 per cent d/d and up 16.66 per cent y/y.

CROBEX (of Zagreb) increased from 1,798.11 index points Tuesday, April 3rd to 1,804.80 index points Wednesday, April 4th. It’s up 0.37 per cent d/d and down 4.97 per cent y/y.

OMXR (of Riga) decreased from 1,044.35 index points Tuesday, April 3rd to 1,042.26 index points Wednesday, April 4th. It’s down 0.20 per cent d/d and up 33.36 per cent y/y.

OMXT (of Tallinn) decreased from 1,266.78 index points Tuesday, April 3rd to 1,264.12 index points Wednesday, April 4th. It’s down 0.21 per cent d/d and up 13.05 per cent y/y.

OMXV (of Vilnius) decreased from 708.74 index points Tuesday, April 3rd to 705.09 index points Wednesday, April 4th. It’s down 0.51 per cent d/d and up 25.67 per cent y/y.

PX (of Prague) decreased from 1,116.66 index points Tuesday, April 3rd to 1,111.86 index points Wednesday, April 4th. It’s down 0.43 per cent d/d and up 13.34 per cent y/y.

SAX (of Bratislava) increased from 329.40 index points Tuesday, April 3rd to 329.68 index points Wednesday, April 4th. It’s up 0.09 per cent d/d and up 6.73 per cent y/y.

SOFIX (of Sofia) increased from 653.14 index points Tuesday, April 3rd to 654.44 index points Wednesday, April 4th. It’s up 0.20 per cent d/d and up 2.89 per cent y/y.

UX (of Kyiv) increased from 1,688.34 index points Tuesday, April 3rd to 1,707.20 index points Wednesday, April 4th. It’s up 1.12 per cent d/d and up 59.59 per cent y/y.

WIG20 (of Warsaw) decreased from 2,239.15 index points Tuesday, April 3rd to 2,200.99 index points Wednesday, April 4th. It’s down 1.70 per cent d/d and up 1.71 per cent y/y.

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