Polish manager as the CEO of Ukrainian Railways

Kiev, Ukraine (Nick Savchenko, CC BY-SA)

IMF ready to cooperate with the new Ukrainian government

The number of young medical doctors in Hungary is increasing

Lower unemployment in Bulgaria

Ukraine

Polish manager, Wojciech Balczun, was selected to chair the Ukrainian Railways (‘Ukrzaliznytsia’), a public joint-stock company. “One of the long-standing problems in the railway industry [of Ukraine] is inefficient use of the fleet of freight cars which leads one to suspect the State Railway Administration (Ukrzaliznytsia) of corruption,” the Center for Transport Strategies reported in 2014 and these are some of the problems Balczun will have to deal with.

Ukrainian Railways were changed into a public joint-stock company in December 2015. The Ministry of Economic Development and Trade announced a contest to select a new chairman for the company in February 2016. 31 candidates, including eight foreigners, applied for the position.

Wojciech Balczun has over 15 years of professional experience, including seven years at the top management positions in Polish Railways as the Chairman of the Supervisory Board at Polish Railways RRB and CEO at PKP Cargo. He also worked as the Chairman of the Supervisory Board of LOT Polish Airlines.

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The International Monetary Fund (IMF) announced its readiness to cooperate with the new Ukrainian government. “We stand ready to continue support of Ukraine. The new government came into office yesterday. We look forward to talk with them,” Paul Thomsen, Director of the IMF’s European Department, said on April 15th during the Spring Meeting of the IMF and the World Bank Group.

Interfax reports Thomsen also said the IMF is ready to complete the second review of the Extended Fund Facility (EFF) on cooperation with Ukraine if the new government is ready to implement this policy that has been agreed before.

The four-year EFF program for Ukraine totaling SDR12.348bn (around USD17bn) opened by the IMF in March 2015, originally foresaw quarterly revisions of the program, the issue of four tranches to Kyiv in 2015, another four in 2016. But until now Ukraine has only received two tranches: first of USD5bn and the second of USD1.bn.

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Hungary

“The number of young MDs starting a career in Hungary has doubled over the past five years mainly due to the government’s grant scheme,” Bence Rétvári, State Secretary of the Human Resources Ministry, said on April 17th.

Hungarian government has spent HUF5bn (EUR16m) on grants to support career-starters in obtaining a special qualification under the Resident Doctors’ Support Scheme since 2011 – in order to keep them at home.

Under the program young medical doctors may receive a net amount of HUF100,000 or up to 200,000 per month as a grant. But many specialists are opposing that program. They point out the government only raises the salaries of those who sign an agreement that “they will not accept any ‘gratuity’ and will not emigrate.”

In 2012 the average salary of physicians in Hungary was HUF203,189, less than the national average of all employee salaries. “Hungary is practically at the bottom of the list of MDs salaries, just ahead of Mexico,” Hungarianspectrum.org reports.

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Bulgaria

The number of unemployed people dropped by 0.1 per cent m/m and 1.1 per cent y/y in March 2016. As the data from Bulgarian labor agency shows 28,063 people found a job in March 2016. That’s 4,502 more than the number of jobs added in February 2016.

 “As many as 329,309, or 9.9 per cent of the workforce, were registered at the employment offices as of March 2016. 5,301 less than in February and 37,202 less than the March 2015,” Novinite.com reports. Most job offers came from: industry (4,124), hospitality and restaurants (3,328), trade (3,002), agriculture and fisheries (2,194).

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What’s up in indexes?

BUX (of Budapest Stock Exchange) was up 0.80 per cent d/d and grew by 13.47 per cent from year-end. It climbed from 26926.60 index points Thursday, April 14th to 27142.00 index points Friday, April 15th. 

BET (of Bucharest Stock Exchange) dropped by 0.95 per cent d/d and by 4.87 per cent from year-end. It decreased from 6725.76 index points Thursday, April 14th to 6662.89 index points Friday, April 15th. 

PX (of Prague) increased from 895.62 index points Wednesday, April 13th to 906.63 index points Friday, April 15th. So it’s up 1.23 per cent. From year-end it dropped by 5.20 per cent.

WIG20 (of Warsaw) dropped by 0.60 per cent – decreasing from 1951.75 index points Thursday, April 14th to 1939.95 index points Friday, April 15th. From year-end it’s up 4.35 per cent.

OMXT (of Tallinn) increased from 974.42 index points Thursday, April 14th to 975.89 index points Friday, April 15th. So it’s up 0.15 per cent d/d and up 8.55 per cent from year-end.

OMXR (of Riga) was up 0.26 per cent d/d and up 5.78 per cent from year-end. The index increased from 627.12 index points Thursday, April 14th to 628.73 index points Friday, April 15th.

OMXV (of Vilnius) was up 0.59 per cent d/d increasing from 496.55 index points Thursday, April 14th to 499.46 index points Friday, April 15th. From year-end it’s up 2.77 per cent.

SAX (of Bratislava) increased from 330.81 index points Thursday, April 14th to 331.18 index points Friday, April 15th. So it’s up 0.11 per cent d/d. From year-end it’s up 13.28 per cent.

SOFIX (of Sofia) was up 0.25 per cent d/d – growing from 435.60 index points Thursday, April 14th to 436.70 index points Friday, April 15th. From year-end the index dropped by 5.25 per cent.

UX (of Kyiv) climbed from 600.27 per cent Thursday, April 14th to 605.38 index points Friday, April 15th. So it’s up 9.85 per cent d/d and. From year-end it dropped by 11.37 per cent.

CROBEX (of Zagreb Stock Exchange) was up 1.50 per cent d/d increasing from 1661.25 index points Thursday, April 14th to 1686.10 index points Friday, April 15th. From year-end it lost 0.21 per cent.

 

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