Real wages in Poland to grow 141 per cent by 2040

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EIF offers Baltic States small business support

Bulgaria makes first steps towards joining Eurozone

Poland

By 2040 real wages in Poland will increase 141 per cent, according to PwC report. The report analyzes wages in over 20 countries and ranked Poland as the fifth when it comes to the dynamics of salary growth, behind India, Malaysia, Indonesia, and China. In two decades Polish salaries will reach the equivalent of 71 per cent of the average wage in the United Kingdom. 

in January 2019, the average gross wage in the corporate sector totaled PLN4,931 (EUR1,150), an increase of 7.5 per cent y/y, according to the Statistics Poland.

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The Baltics

The European Investment Fund (EIF) and venture capital Capitalia have signed an agreement on a guarantee instrument supporting small businesses in Latvia, Lithuania and Estonia, for a total amount of EUR10m, the European Commission announced. In order to qualify for the guarantee companies should have a turnover below EUR2m and have no more than nine employees. Financing will be provided for three months to five years.

“Giving small entrepreneurs the means to put their talent to work with better access to finance is one of our key priorities. This is how we will build a fairer and a more inclusive European Union,” the European Commissioner for Employment, Social Affairs, Skills and Labor Mobility Marianne Thyssen said.

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Bulgaria

In July 2019, Bulgaria will enter the Eurozone waiting room, Prime Minister Boyko Borissov announced. He also said that unemployment levels were expected to fall below 5 per cent, and that the country’s foreign debt would amount to 17.5 per cent of the GDP at the end of 2019, news agency BGNES reported.

The ministry of finance forecasts that Bulgaria can adopt the EU’s common currency no earlier than in 2022, but entering the Eurozone a year later than the original target is considered a more likely scenario.

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What’s up in indexes

BET (of Bucharest) decreased from 7759.58 index points Monday, February 25th to 7738.12 index points Tuesday, February 26th. It’s down 0.39 per cent d/d and down 7.65 per cent y/y.

BUX (of Budapest) decreased from 40988.00 index points Monday, February 25th to 40819.00 index points Tuesday, February 26th. It’s down 0.41 per cent d/d and up 5.69 per cent y/y.

CROBEX (of Zagreb) increased from 1,781.52 index points Monday, February 25th to 1,782.77 index points Tuesday, February 26th. It’s up 0.07 per cent d/d and down 0.15 per cent y/y.

OMXR (of Riga) decreased from 992.15 index points Monday, February 25th to 990.58 index points Tuesday, February 26th. It’s down 0.16 per cent d/d and down 3.52 per cent y/y.

OMXT (of Tallinn) increased from 1224.39 index points Monday, February 25th to 1228.48 index points Tuesday, February 26th. It’s up 0.33 per cent d/d and down 5.05 per cent y/y.

OMXV (of Vilnius) increased from 642.21 index points Monday, February 25th to 646.75 index points Tuesday, February 26th. It’s up 0.71 per cent d/d and down 3.99 per cent y/y.

PX (of Prague) decreased from 1070.68 index points Monday, February 25th to 1065.39 index points Tuesday, February 26th. It’s down 0.49 per cent d/d and down 3.28 per cent y/y.

SAX (of Bratislava) closed at 340.71 index points Tuesday, February 26th. It’s the same result as Monday’s. It’s 0 per cent change d/d and up 2.59 per cent y/y.

SOFIX (of Sofia) decreased from 593.00 index points Monday, February 25th to 591.00 index points Tuesday, February 26th. It’s down 0.35 per cent d/d and down 13.87 per cent y/y.

UX (of Kyiv) increased from 1688.24 index points Monday, February 25th to 1698.21 index points Tuesday, February 26th. It’s up 0.59 per cent d/d and up 12.8 per cent y/y.

WIG20 (of Warsaw) decreased from 2371.69 index points Monday, February 25th to 2365.93 index points Tuesday, February 26th. It’s down 0.24 per cent d/d and down 1.77 per cent y/y.

 

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