Rail Baltica’s costs increased up to EUR5.8bn

(ViršuLF, Public domain)

World Bank: Western Balkans don’t create new jobs

Reference rate in Poland remains at 1.50 per cent

Baltics

Estimated costs of Rail Baltica project for the construction European gauge high-speed railroad from Tallinn (Estonia) to Poland, increased. In 2011, the costs were estimated at the level of EUR3.68bn but will reach some EUR5.8bn.

Baltic Course quotes Indrek Orav, CEO of Rail Baltica Estonia, explaining the increase: “In the case of such megaprojects it is essential to keep track of the prices of different components, such as construction works and materials, bridges and viaducts, ecoducts and environmental alleviation measures, which may change over time.”

While the overall costs increase the Estonian part remained stable – at about EUR1.3bn, and EUR250-300m will be funded by Estonian government.

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Western Balkans

SEENews Corporate Wire reports on an interesting report of the Vienna Institute for International Economic Studies (WIIW) and the World Bank. The report called “Western Balkans Labor Market Trends 2017” shows the low level of  new jobs creation in the Western Balkans. Even though the economies of Kosovo, Bosnia and Herzegovina, Albania, Macedonia and Serbia grow, the inactivity in the region remains very high.

In the period 2010-2016 the unemployment in the Western Balkans fell by only 200,000, from 23 per cent to 21 per cent.

The level of unemployment is the highest in Kosovo (61.8 per cent) and in BiH (45.4 per cent). It is also high in Macedonia and Albania – 36 per cent.

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Poland

The Polish Radio reports on yesterday’s decision of the Polish Monetary Policy Council. The Council decided to keep interest rates unchanged. The reference rate remains at 1.50 per cent. Experts have been expecting such a decision.

The last time interest rates were cut was in March 2015.

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What’s up in indexes

BET (of Bucharest) increased from 8,183.43 index points Tuesday, April 4th to 8,201.83 index points Wednesday, April 5th. It was up 0.32 per cent d/d and up 22.79 per cent y/y.

BUX (of Budapest) increased from 31,952.00 index points Tuesday, April 4th to 32,405.13 index points Wednesday, April 5th. It was up 1.42 per cent d/d and up 23.63 per cent y/y.

CROBEX (of Zagreb) decreased from 1,981.69 index points Tuesday, April 4th to 1,946.65 index points Wednesday, April 5th. It was down 1.77 per cent d/d and up 20.14 per cent y/y.

OMXR (of Riga) decreased from 781.50 index points Tuesday, April 4th to 776.75 index points Wednesday, April 5th. It was down 0.61 per cent d/d and up 28.86 per cent y/y.

OMXT (of Tallinn) decreased from 1,118.23 index points Tuesday, April 4th to 1,109.24 index points Wednesday, April 5th. It was down 0.80 per cent d/d and up 14.88 per cent y/y.

OMXV (of Vilnius) decreased from 561.06 index points Tuesday, April 4th to 560.76 index points Wednesday, April 5th. It was down 0.05 per cent d/d and up 13.79 per cent y/y.

PX (of Prague) decreased from 981.03 index points Tuesday, April 4th to 980.78 index points Wednesday, April 5th. It was down 0.03 per cent d/d and up 10.26 per cent y/y.

SAX (of Bratislava) decreased from 308.88 index points Tuesday, April 4th to 306.34 index points Wednesday, April 5th. It was down 0.82 per cent d/d and down 5.90 per cent y/y.

SOFIX (of Sofia) increased from 636.03 index points Tuesday, April 4th to 641.77 index points Wednesday, April 5th. It was up 0.90 per cent d/d and up 44.72 per cent y/y.

UX (of Kyiv) decreased from 1,069.71 index points Tuesday, April 4th to 1,065.61 index points Wednesday, April 5th. It was down 0.38 per cent d/d and up 89.12 per cent y/y.

WIG20 (of Warsaw) increased from 2,239.30 index points Tuesday, April 4th to 2,253.64 index points Wednesday, April 5th. It was up 0.64 per cent d/d and up 16.54 per cent y/y.

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