Romania and Bulgaria have the cheapest workforce in Europe

Bucharest, Romania (Paul Istoan, CC BY-NC)

BiH economic growth down to 2.0 per cent in 2016

One out of eleven Czechs can lose his property

Romania

Baltic Course reports on Eurostat’s report released on April 6th. According to the report, Romania and Bulgaria offer the lowest hourly labor cost – they are, respectively, EUR5.5 and EUR4. Average hourly labor costs in Lithuania are EUR7.3 per hour and in Latvia EUR7.5.

The most expensive workforce is Denmark, Belgium and Sweden. The average hourly labor costs in those countries reach – respectively – EUR42, EUR39.2 and EUR38.

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Bosnia and Hercegovina

A year after sending an official application to join the EU, BiH’s economy slows. SEENews Coporate Wire reports, after Bosnian agency, the most recent data. In 2016 the economic growth reached 2.0 per cent. In 2015 it was 3.0 per cent.

BiH has formally requested to join the EU in mid-February 2016. 28 European states accepted the membership application in September 2016. Now BiH tries to implement reforms and reach the criteria of convergence.

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Czech Republic

Radio Praha reports that Czechs are having difficulties with paying their debts. As the Chamber of Bailiffs of the Czech Republic reveals, 830,000 people faced property seizure in 2016 due to their indebtedness. Their outstanding debt totals CZK4.4m (EUR164m).

The Radio informs that the worst situation is in the district of Most in North Bohemia. It presents the map prepared by the Open Society and Ecumenical Academy. It shows the highest number of people facing property seizure are in the regions of Ústí nad Labem and Karlovy Vary.

Open Society and Ecumenical Academy says that changes in the debt clearance rules could be a solution. The Radio points out that average Czech has CZK75,712 (EUR2830) in debt.

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What’s up in indexes

BET (of Bucharest) decreased from 8,201.83 index points Wednesday, April 5th to 8,181.67 index points Thursday, April 6th. It was down 0.22 per cent d/d and up 22.21 per cent y/y.

BUX (of Budapest) increased from 32,405.13 index points Wednesday, April 5th to 32,553.53 index points Thursday, April 6th. It was up 0.46 per cent d/d and up 23.79 per cent y/y.

CROBEX (of Zagreb) decreased from 1,946.65 index points Wednesday, April 5th to 1,924.37 index points Thursday, April 6th. It was down 1.14 per cent d/d and up 18.30 per cent y/y.

OMXR (of Riga) increased from 776.75 index points Wednesday, April 5th to 781.91 index points Thursday, April 6th. It was up 0.66 per cent d/d and up 28.71 per cent y/y.

OMXT (of Tallinn) increased from 1,109.24 index points Wednesday, April 5th to 1,115.24 index points Thursday, April 6th. It was up 0.54 per cent d/d and up 15.08 per cent y/y.

OMXV (of Vilnius) increased from 560.76 index points Wednesday, April 5th to 562.85 index points Thursday, April 6th. It was up 0.37 per cent d/d and up 14.05 per cent y/y.

PX (of Prague) decreased from 980.78 index points Wednesday, April 5th to 979.97 index points Thursday, April 6th. It was down 0.08 per cent d/d and up 10.81 per cent y/y.

SAX (of Bratislava) decreased from 306.34 index points Wednesday, April 5th to 300.64 index points Thursday, April 6th. It was down 1.86 per cent d/d and down 6.32 per cent y/y.

SOFIX (of Sofia) increased from 641.77 index points Wednesday, April 5th to 643.93 index points Thursday, April 6th. It was up 0.34 per cent d/d and up 45.28 per cent y/y.

UX (of Kyiv) increased from 1,065.61 index points Wednesday, April 5th to 1,075.84 index points Thursday, April 6th. It was up 0.96 per cent d/d and up 86.31 per cent y/y.

WIG20 (of Warsaw) increased from 2,253.64 index points Wednesday, April 5th to 2,254.47 index points Thursday, April 6th. It was up 0.04 per cent d/d and up 17.45 per cent y/y.

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