Romania must revise its 2019 budget

House of Parliament, Bucharest, Romania (Tamaar, CC BY-NC-ND)

Slovakia has the highest increase of food prices in the EU

Gazprom says TurkStream should be operating by the end of 2019

Romania

In June, Romanian Finance Minister Eugen Teodorovici admitted that a significant amount of money (some 0.7 per cent of GDP) “is missing” in order to meet the 3 per cent of GDP deficit target, and promised to come up with corrective measures. The budget revision is ready and will be published for public debates early next week to be passed “maybe next week”, Mr. Teodorovici said yesterday.

Before the final approval of the revision there are some steps to be taken, such as approval of the Country’s Supreme Defense Council, the Social Economic Council and the Fiscal Council, Mr. Teodorovici added suggesting that one week for the whole process might not be enough.

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Slovakia

“Growth of food prices in Slovakia in June exceeded other V4 countries,” Michal Feik of the Agriculture Ministry stated. According to the ministry, Slovaks have to dig deeper into their pockets for pork and fruit, whose prices went up by 7 per cent. The increase is significant even when compared to the EU as a whole, in which fruit prices increased by 0.7 per cent.

Food prices in Slovakia grew by 0.5 per cent in June. Poland had a 0.4 per cent increase, while prices in the Czech Republic went up by only 0.1 per cent. In Hungary, prices dropped by 0.2 per cent, Eurostat informed

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Russia

Almost 90 per cent of all Turkish Stream (TurkStream) terminals has now been completed and the pipeline will be operational by the end of the year, BGNES News Agency informed. “Russia’s land-based facilities are 99 per cent completed and almost all construction work has been completed at the Turkish terminal in Kıyıköy,” Oleg Aksyutin, Chairman of Gazprom’s Steering Committee announced.

TurkStream with capacity of 31.5 billion cubic meters is a part of a trident of pipelines running from Russia to Europe. It will deliver gas from Russia to Turkey and then to southern Europe.

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What’s up in indexes

BET (of Bucharest) increased from 8955.13 index points Wednesday, July 24th to 8955.38 index points Thursday, July 25th. It’s up 0.29 per cent d/d and up 12.6 per cent y/y.

BUX (of Budapest) increased from 41303.00 index points Wednesday, July 24th to 41354.00 index points Thursday, July 25th. It’s up 0.12 per cent d/d and up 18.3 per cent y/y.

OMXR (of Riga) increased from 1031.13 index points Wednesday, July 24th to 1033.67 index points Thursday, July 25th. It’s up 0.25 per cent d/d and up 1.94 per cent y/y.

OMXT (of Tallinn) increased from 1266.16 index points Wednesday, July 24th to 1270.61 index points Thursday, July 25th. It’s up 0.35 per cent d/d and up 0.78 per cent y/y.

OMXV (of Vilnius) increased from 688.08 index points Wednesday, July 24th to 688.25 index points Thursday, July 25th. It’s up 0.03 per cent d/d and down 3.78 per cent y/y.

PX (of Prague) decreased from 1075.44 index points Wednesday, July 24th to 1074.02 index points Thursday, July 25th. It’s down 0.13 per cent d/d and down 1.50 per cent y/y.

RTS (of Moscow) increased from 1339.62 index points Wednesday, July 24th to 1346.91 index points Thursday, July 25th. It’s up 0.54 per cent d/d and up 18.0 per cent y/y.

SAX (of Bratislava) decreased from 340.85 index points Wednesday, July 24th to 340.53 index points Thursday, July 25th. It’s down 0.09 per cent d/d and up 0.39 per cent y/y.

SOFIX (of Sofia) decreased from 580.90 index points Wednesday, July 24th to 580.00 index points Thursday, July 25th. It’s up 0.17 per cent d/d and down 8.81 per cent y/y.

UX (of Kyiv) decreased from 1597.37 index points Wednesday, July 24th to 1587.52 index points Thursday, July 25th. It’s down 0.62 per cent d/d and down 1.82 per cent y/y.

WIG20 (of Warsaw) decreased from 2335.41 index points Wednesday, July 24th to 2310.31 index points Thursday, July 25th. It’s down 1.07 per cent d/d and up 2.19 per cent y/y.

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