Poles are more and more indebted

Warsaw, Poland (Monika, CC BY-SA)

FDI in Romania increased 2.6 y/y

S&P upgraded Hungary's rating

Poland

According Poland’s KRD Economic Information Bureau, the largest credit information office, the total overdue debts has grown to PLN1.49bn (EUR346m). “In the last three years, the debt has tripled” PAP news agency reported. The average outstanding debt is PLN4,500 (EUR1,100), KRD added. Poles aged between 26 and 35 are the group with the largest debt, reaching PLN335m (EUR90m) in total. Some 342,000 people have failed to repay their loans from non-bank lenders.

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Romania

Foreign direct investment (FDI) in Romania increased by 2.6 per cent y/y in 2018 to EUR4.9bn, the National Bank of Romania (BNR) informed. The top five countries were the Netherlands (25.9 per cent of all FDI), Germany (12.8 per cent), Austria (12.6 per cent), Italy (6.2 per cent) and France (6.2 per cent).

“In 2008, before the recession, the FDI level was nearly twice as high: EUR9bn. Furthermore, the GDP was only EUR146bn in 2008, compared to EUR190bn in 2018 which results in a significant decrease of the FDI to GDP ratio to just 2.6 per cent in 2018, less than half the figure in 2008,” commented the daily Ziarul Financiar.

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Hungary

Standard and Poor’s upgraded Hungary’s rating to ‘BBB’ with stable outlook, after 18 months with a positive outlook. “It can be the first but presumably not the last upgrade this year,” state news wire MTI reported.

S&P highlighted in its press release several factors that led to the upgrade: “Hungary’s sound growth prospects, supported by high private savings and real wage gains sustaining domestic demand, as well as the ongoing expansion of export capacity in the automotive and services sectors”. The rating agency also pointed out the strong external position of the country, combined with a low level of foreign currency funding. The recent improvements in the banking sector (both on the balance sheet and in profitability) also played a role in upgrading the rating.

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What’s up in indexes

BET (of Bucharest) increased from 7657.08 index points Friday, February 15th to 7728.47 index points Monday, February 18th. It’s up 0.78 per cent d/d and down 7.05 per cent y/y.

BUX (of Budapest) increased from 40179.84 index points Friday, February 15th to 40653.00 index points Monday, February 18th. It’s up 1.18 per cent d/d and up 4.22 per cent y/y.

CROBEX (of Zagreb) increased from 1,769.31 index points Friday, February 15th to 1,773.77 index points Monday, February 18th. It’s up 0.25 per cent d/d and down 2.07 per cent y/y.

OMXR (of Riga) increased from 979.82 index points Friday, February 15th to 988.91 index points Monday, February 18th. It’s up 0.93 per cent d/d and down 3.29 per cent y/y.

OMXT (of Tallinn) increased from 1220.57 index points Friday, February 15th to 1220.57 index points Monday, February 18th. It’s up 0.18 per cent d/d and down 4.54 per cent y/y.

OMXV (of Vilnius) increased from 639.37 index points Friday, February 15th to 643.37 index points Monday, February 18th. It’s up 0.63 per cent d/d and down 4.54 per cent y/y.

PX (of Prague) increased from 1058.23 index points Friday, February 15th to 1063.90 index points Monday, February 18th. It’s up 0.54 per cent d/d and down 4.17 per cent y/y.

SAX (of Bratislava) closed at 335.74 index points Monday, February 18th. It’s the same result as Friday’s. It’s 0 per cent change d/d and up 1.83 per cent y/y.

SOFIX (of Sofia) increased from 577.24 index points Friday, February 15th to 578.30 index points Monday, February 18th. It’s up 0.18 per cent d/d and down 16.43 per cent y/y.

UX (of Kyiv) increased from 1690.15 index points Friday, February 15th to 1690.69 index points Monday, February 18th. It’s up 0.03 per cent d/d and up 15.8 per cent y/y.

WIG20 (of Warsaw) decreased from 2338.20 index points Friday, February 15th to 2325.67 index points Monday, February 18th. It’s down 0.54 per cent d/d and down 3.44 per cent y/y.

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