Romania: government reserve fund ran out of money

(National Bank of Romania, Public domain)

Latvia: average wage above EUR1,000 in Q2’18

Ukraine: VAT refunds behind the weakening of hryvnia

Romania

Romania’s Finance Minister Eugen Teodorovici informed that there’s no money left in government’s reserve fund. This is due to “difficult situations that occurred this year – floods, natural disasters, swine fever,” Mr Teodorovici explained. The government’s reserve fund enables making unplanned payments, not included in the state budget. As the Romania Insider informs, about EUR100m was allocated to the fund at the beginning of 2018.

The portal also informs that Romania’s budget deficit in the period January–July 2018 amounted to 1.26 per cent of the GDP, “in line” with the government’s estimations.

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Latvia

The average gross monthly wage in Latvia exceeded EUR1,000 in Q2’18 — Leta agency informs. As reported, the FTEs wage increased by 8.4 per cent y/y. The agency pointed out that the growth rate registered Q1’18 was faster — 8.6 per cent. “Compared to the first quarter, in the second quarter of 2018 gross wages and salaries increased by 4.6 per cent or EUR44,” the agency writes. The rise of salaries was similar in both private and public sector.

At the same time the biggest increase was recorded in human health and social work activities (up 15.2 per cent), mining and quarrying (13.3 per cent), accommodation and food service activities (11.7 per cent), agriculture, forestry and fishing (10.9 per cent).

In the Baltic states, the highest monthly average gross wage in Q2’18 were recorded in Estonia — EUR1,321, Latvia — EUR1,004 and Lithuania — EUR927.

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Ukraine

The Interfax informs that, according to the National Bank of Ukraine (NBU), the dynamics of the UAH exchange rate in the interbank foreign exchange market in recent days have been determined by value-added refunds (from the Ministry of Finance to business).

The agency pointed out that NBU had sold USD422m in the interbank foreign exchange market since the beginning August 2018. At the same time, the institution purchased USD16.7m in the foreign exchange market on August 20th, after the strengthening the hryvnia.

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What’s up in indexes

BET (of Bucharest) increased from 8,336.23 index points Wednesday, August 29th to 8,337.54 index points Thursday, August 30th. It’s up 0.06 per cent d/d and up 1.35 per cent y/y.

BUX (of Budapest) decreased from 37,234.86 index points Wednesday, August 29th to 37,225.08 index points Thursday, August 30th. It’s down 0.03 per cent d/d and down 1.79 per cent y/y.

CROBEX (of Zagreb) decreased from 1,824.65 index points Wednesday, August 29th to 1,822.76 index points Thursday, August 30th. It’s down 0.10 per cent d/d and down 1.42 per cent y/y.

OMXR (of Riga) increased from 977.63 index points Wednesday, August 29th to 981.68 index points Thursday, August 30th. It’s up 0.41 per cent d/d and down 2.70 per cent y/y.

OMXT (of Tallinn) increased from 1,217.79 index points Wednesday, August 29th to 1,225.99 index points Thursday, August 30th. It’s up 0.67 per cent d/d and down 3.66 per cent y/y.

OMXV (of Vilnius) decreased from 704.93 index points Wednesday, August 29th to701.60 index points Thursday, August 30th. It’s down 0.47 per cent d/d and up 6.85 per cent y/y.

PX (of Prague) decreased from 1,078.85 index points Wednesday, August 29th to 1,078.16 index points Thursday, August 30th. It’s down 0.06 per cent d/d and up 4.79 per cent y/y.

SAX (of Bratislava) increased from 347.62 index points Tuesday, August 28th to 359.60 index points Thursday, August 30th. It’s up 3.54 per cent d/d and up 7.69 per cent y/y.

SOFIX (of Sofia) increased from 630.41 index points Wednesday, August 29th to 633.96 index points Thursday, August 30th. It’s up 0.56 per cent d/d and down 10.27 per cent y/y.

UX (of Kyiv) decreased from 1,634.29 index points Wednesday, August 29th to 1,633.25 index points Thursday, August 30th. It’s down 0.06 per cent d/d and up 45.98 per cent y/y.

WIG20 (of Warsaw) decreased from 2,380.68 index points Wednesday, August 29th to 2,353.92 index points Thursday, August 30th. It’s down 1.12 per cent d/d and down 6.76 per cent y/y.

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