Romania’s budget deficit the second highest in the EU

Bucharest, Romania (Robert Anders, CC BY)

Volkswagen closed one of its factories in Slovakia

Huawei to launch digital transformation hub in Serbia

Romania

In 2018, Romania had 3 per cent budget deficit, the second highest in the UE, according to the Eurostat data. Some of the CSE countries had a surplus: Bulgaria (+2.0 per cent), Czech Republic (+0.9 per cent), Lithuania and Slovenia (both +0.7 per cent), and Croatia (+0.2 per cent).

On the plus side, Romanian public debt is among the lowest in Europe — 35 per cent of GDP, compared to the EU average of 80 per cent.

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Slovakia

Volkswagen has decided to close down it’s the smallest plant in Haniska, near Košice. “Since 2004, we have manufactured 135,000 cars in Haniska for export to Russia. When Russia became a member of the World Trade Organization (WTO), the country had to reduce its import duties. The plant is not needed anymore,” said Oliver Grünberg, a member of Volkswagen Slovakia’s board. The factory employed around 100 people.

The German carmaker also decided to move its 3D printer, used for the mass production of car components, from Stupava (Bratislava Region) back to its German headquarters.

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Serbia

Chinese telecom Huawei plans to launch a digital transformation hub for the Western Balkans in Serbia, the Serbian government informed. As part of China’s One Belt One Road Initiative, the Serbian and the Chinese governments have also agreed on making Huawei a strategic partner in Serbia’s smart city strategy. Huawei will provide a platform for the development of local ecosystems in the digital transformation of the public, financial, education, energy and transport sectors.

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What’s up in indexes

BET (of Bucharest) increased from 8391.12 index points Tuesday, April 23rd to 8367.89 index points Wednesday, April 24th. It’s up 0.02 per cent d/d and down 7.08 per cent y/y.

BUX (of Budapest) increased from 43245.00 index points Tuesday, April 23rd to 43563.00 index points Wednesday, April 24th. It’s up 0.73 per cent d/d and up 15.0 per cent y/y.

OMXR (of Riga) increased from 1014.66 index points Tuesday, April 23rd to 1020.70 index points Wednesday, April 24th. It’s up 0.60 per cent d/d and down 2.43 per cent y/y.

OMXT (of Tallinn) decreased from 1251.98 index points Tuesday, April 23rd to 1250.47 index points Wednesday, April 24th. It’s down 0.12 per cent d/d and down 0.35 per cent y/y.

OMXV (of Vilnius) increased from 674.63 index points Tuesday, April 23rd to 676.95 index points Wednesday, April 24th. It’s up 0.34 per cent d/d and down 3.18 per cent y/y.

PX (of Prague) decreased from 1098.48 index points Tuesday, April 23rd to 1088.97 index points Wednesday, April 24th. It’s down 0.87 per cent d/d and down 3.42 per cent y/y.

RTS (of Moscow) decreased from 1277.71 index points Tuesday, April 23rd to 1263.97 index points Wednesday, April 24th. It’s down 1.08 per cent d/d and up 9.55 per cent y/y.

SAX (of Bratislava) decreased from 349.59 index points Tuesday, April 23rd to 349.13 index points Wednesday, April 24th. It’s down 0.13 per cent d/d and up 4.93 per cent y/y.

SOFIX (of Sofia) decreased from 570.00 index points Tuesday, April 23rd to 569.60 index points Wednesday, April 24th. It’s down 0.18 per cent d/d and down 13.58 per cent y/y.

UX (of Kyiv) increased from 1689.38 index points Tuesday, April 23rd to 1692.44 index points Wednesday, April 24th. It’s up 0.18 per cent d/d and down 6.61 per cent y/y.

WIG20 (of Warsaw) increased from 2370.63 index points Tuesday, April 23rd to 2372.33 index points Wednesday, April 24th. It’s up 0.07 per cent d/d and up 4.55 per cent y/y.

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