Polish MinFin says the GDP growth in 2016 will be 3.4 per cent

Warsaw, Poland (Kamil Porembiński, CC BY-SA)

Ukraine with loans for food production SME

Romanian industry up 5.3 per cent in August

The number of new cars in Latvia decreased

Poland

Mateusz Morawiecki, the Poland’s Finance and Development Minister informed the country’s GDP growth in 2016 will be 3.4 per cent. The Polish Radio reports the forecast „is in line with previous estimates by the Finance Ministry”. It is expected that in 2017 the GDP will grow 3.6 per cent (the draft budget prediction is 3.8 per cent).

At the beginning of October, the International Monetary Fund (IMF) lowered its forecast for Polish GDP growth to 3.1 per cent in 2016 (from 3.5 per cent) and to 3.4 per cent in 2017 (from 3.7 per cent).

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Ukraine

Ukraine’s President Petro Poroshenko approved a bill permitting loans for small and medium enterprises in the food production sector. The Interfax agency reports it’s a document „on the ratification of the financial agreement between Ukraine and the European Investment Bank (EIB)”. The agreement was signed in Kyiv on December 2015.

According to the President’s website, the new law will support the agricultural sector in Ukraine as it allows raising EUR400m for 12 years with a four-year grace period.

The funds will be sent to modernization of fishing industry and mariculture in Ukraine and for an implementation of projects in planting grain crops and oilseeds.

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Romania

The industry sector in Romania grew 5.3 per cent y/y in August 2016. Romania Insider reports, after the National Statistics Institute (INS), „it was the highest increase in the last 12 months, and it was mainly due to the significant advance in the key manufacturing sector”.

„The mining and quarrying industry recorded a significant decline of 16.5 per cent in August whereas the production and supply of electricity and gas dropped by 3.7per cent y/y. In July, the local industry recorded a decline of 3.4 per cent compared to July last year.

Except for August, the industrial production also saw a significant increase this year in April, with an advance of 3.4 per cent y/y, after a modest start this year,” the portal writes.

The local industry accounts for almost one fourth of the Romanian economy

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Latvia

In the period January – September 2016 the number of new cars registered in Latvia decreased by 2.5 per cent y/y. The number of the new cars registered decreased to 46,797. The data from the Latvian Road Traffic Safety Directorate (CSDD) also shows the drop in the number of first-registered trucks and buses and the increase in the number of first-time registered other vehicles.

The number of trucks dropped by 2.3 per cent y/y (to 6,359 vehicles), the number of buses dropped by 38.1 per cent (to 218 vehicles). At the same time the first-time registration of motorcycles and trikes grew by 3.6% to 2,162.

„The overall number of transport vehicles registered in January-September dropped 2.2% from the respective period in 2015 to 61,784” – Baltic Course informs. „In the first nine months of last year there were 47,999 passenger cars registered in Latvia, while in 2015 there were a total of 63,758 passenger cars registered, up 1.1 per cent from 2014” – it adds.

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What’s up in indexes

BUX (of Budapest) dropped by 0.29 per cent – falling from 28479.24 index points Tuesday, October 11th to 28396.87 index points Wednesday, October 12th. From year-end it’s up 18.71 per cent.

BET (of Bucharest Stock Exchange) dropped by 0.06 per cent d/d and by 1.14 per cent from year-end. It decreased from 6926.71 index points Tuesday, October 11th to 6922.41 index points Wednesday, October 12th.

PX (of Prague) dropped by 0.43 per cent d/d and by 6.86 per cent from year-end. It decreased from 894.57 index points Tuesday, October 11th to 890.74 index points Wednesday, October 12th.

WIG20 (of Warsaw) was up 0.18 per cent d/d – increasing from 1757.04 index points Tuesday, October 11th to 1760.43 index points Wednesday, October 12th.

OMXT (of Tallinn) was up 0.47 per cent d/d and up 13.02 per cent from year-end. It increased from 1011.25 index points Tuesday, October 11th to 1016.00 index points Wednesday, October 12th.

OMXR (of Riga) increased from 709.05 index points Tuesday, October 11th to 720.22 index points Wednesday, October 12th. So it’s up 1.58 per cent d/d and up 21.18 per cent from year-end.

OMXV (of Vilnius) dropped by 0.07 per cent d/d – falling from 544.05 index points Tuesday, October 11th to 543.69 index points Wednesday, October 12th. From year-end it’s up 11.87 per cent.

SAX (od Bratislava) dropped by 0.08 per cent – falling from 313.29 index points Tuesday, October 11th to 313.05 index points Wednesday, October 12th. From year-end it grew by 7.08 per cent.

SOFIX (of Sofia) decreased from 509.59 index points Tuesday, October 11th to 509.24 index points Wednesday, October 12th. So it dropped by 0.07 per cent d/d. From year-end it’s up 10.49 per cent.

UX (of Kyiv) dropped by 0.54 per cent d/d – falling from 845.34 index points Tuesday, October 11th to 840.76 index points Wednesday, October 12th. From year-end it’s 22.58 per cent.

CROBEX (of Zagreb) dropped by 0.56 per cent – falling from 2002.11 index points Tuesday, October 11th to 1990.88 Wednesday, October 12th. From year-end it’s up 18.02 per cent.

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