Romania revises the 2019 budget and increases the deficit

Bucharest, Romania (Wendy Lefkowich, CC BY-NC-ND 2.0)

Croatia wants to have more renewable energy

Estonia tops CSE countries in the Prosperity Index

Romania

Romania’s finance ministry said that it has increased the consolidated budget deficit target for 2019 to 4.3 per cent of the projected GDP, from an initial estimate of 2.76 per cent. Also, the ministry has decided to lower the economic growth projection for 2019 to 4.0 per cent from previously forecast 5.5 per cent. The decisions were taken as a result of poor tax collection and higher expenses, the ministry explained. The additional resources will cover the most urgent needs, such as pensions, wages and local administrations.

The budget deficit for 2019 will be RON44.72bn (EUR9.3bn), compared to a previous forecast of RON28.45bn.

Read more

Estonia

Estonia has been ranked 21st in the third global edition of the Prosperity Index published by Erste Bank and the London-based Legatum Institute Foundation. This is the best result among all the CSE countries. The Prosperity Index examines political, social, economic and environmental prosperity in eleven key areas: safety and security, personal freedom, governance, social capital, investment environment, enterprise conditions, market access and infrastructure, economic quality, living conditions, health, education and the natural environment.

Next CSE country was Slovenia as the 2nd in the region and the 3rd was Czech Republic. The three are followed by Slovakia, Lithuania, Latvia and Poland. Croatia, Hungary and Romania also made it to the CSE’s top ten.

Read more

Croatia

Croatia’s government wants to increase the share of renewable energy in its total energy consumption to 36.4 per cent by 2030, local media reported.

According to a consulting company GlobalData, the increase in renewable capacity from just over 1 per cent in 2008 to around 17 per cent in 2018 was attributed to revised targets under National Renewable Energy Action Plan (NREAP), guaranteed feed-in-tariffs, and premium tariff support schemes. As a result, renewable power capacity in the country is expected to reach 1.9 Giga watts by 2030.

Read more

What’s up in indexes

BET (of Bucharest) increased from 9760.94 index points Monday, November 25th to 9793.99 index points Tuesday, November 26th. It’s up 0.23 per cent d/d and up 15.0 per cent y/y.

BUX (of Budapest) decreased from 44314.00 index points Monday, November 25th to 43782.00 index points Tuesday, November 26th. It’s down 1.20 per cent d/d and up 10.6 per cent y/y.

OMXR (of Riga) decreased from 1033.76 index points Monday, November 25th to 1029.05 index points Tuesday, November 26th. It’s down 0.46 per cent d/d and up 7.90 per cent y/y.

OMXT (of Tallinn) increased from 1258.75 index points Monday, November 25th to 1259.73 index points Tuesday, November 26th. It’s up 0.08 per cent d/d and up 4.98 per cent y/y.

OMXV (of Vilnius) increased from 706.68 index points Monday, November 25th to 706.73 index points Tuesday, November 26th. It’s up 0.01 per cent d/d and up 11.1 per cent y/y.

PX (of Prague) decreased from 1084.56 index points Monday, November 25th to 1079.01 index points Tuesday, November 26th. It’s down 0.51 per cent d/d and up 1.30 per cent y/y.

RTS (of Moscow) decreased from 1454.63 index points Monday, November 25th to 1440.95 index points Tuesday, November 26th. It’s down 0.94 per cent d/d and up 32.9 per cent y/y.

SAX (of Bratislava) closed at 342.13 index points Tuesday, November 26th. It’s the same result as Monday’s. It’s 0 per cent change d/d and up 3.12 per cent y/y.

SOFIX (of Sofia) decreased from 548.60 index points Monday, November 25th to 545.70 index points Tuesday, November 26th. It’s down 0.53 per cent d/d and down 6.70 per cent y/y.

UX (of Kyiv) decreased from 1513.74 index points Monday, November 25th to 1511.13 index points Tuesday, November 26th. It’s down 0.17 per cent d/d and down 14.78 per cent y/y.

WIG20 (of Warsaw) decreased from 2197.54 index points Monday, November 25th to 2190.58 index points Tuesday, November 26th. It’s down 0.32 per cent d/d and down 1.04 per cent y/y.

Share this post

TOP