Slovakia has a record low budget deficit

Bratislava, Slovakia (Miki216, CC BY-SA)

Gazprom regains half of Lithuania's gas market

Romania celebrates 10th anniversary of joining EU

Fitch downgrades Ukraine's PrivatBank to 'RD'

Slovakia

The state budget deficit was EUR980m at the end of 2016. It’s the lowest deficit in the past eight years. The deficit is 1.23 per cent of GDP lower than the projections.

Slovakia’s Finance Ministry commented, quoted by the TASR newswire: “When compared to the 2015 figure, the deficit went down by EUR952.3m, or 49.3 per cent.”

In 2016 the budget income was EUR14.276bn, while expenditures were EUR15.256bn. The major source of budget income was taxes which exceeded the projected figure, mainly the corporate tax.

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Lithuania

The biggest Lithuania’s state energy group, Lietuvos Energija (Lithuanian Energy), plans to purchase some 2.9 million megawatts, or 34 per cent of its gas needs, from Russian company Gazprom. At the same time the fertilizer manufacturer Achema, Lithuania’s single largest gas consumer, plans to buy about 9 million MWh, or two-thirds of its gas. As a result Gazprom’s share of the Lithuanian market will rise to around 55 per cent this year, from one-third in 2016.

According to The Baltic course none of the companies disclosed details of their agreements with Gazprom. Lietuvos Energija has only revealed that it has signed a one-year contract with Gazprom.

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Romania

Romania has joined EU on January 1st, 2007. During this period it has received from the EU over EUR40.5bn of funds. It contributed to the EU budget EUR13.6bn.

Thus, according to data from the Finance Ministry, Romania had net inflows of almost EUR26.9bn in ten years. From the new EU budget perspective Romania will get some EUR3.48bn.

Ten years after joining the EU, Romania and Bulgaria remain the least developed countries among the EU member states.

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Ukraine

Fitch Ratings has downgraded recently nationalized PrivatBank ‘RD’ (Restricted Default). In its report Fitch said that the downgrade of PrivatBank’s Long- and Short-Term Foreign Currency IDRs and debt ratings follows the nationalization (read more here).

“Fitch understands from the bank that all the proceeds due under the senior unsecured Eurobonds, as well as some other senior unsecured debt, have been used for recapitalization of the bank,” Fitch said.

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What’s up in indexes

BUX (of Budapest) – increased from 32099.05 index points Monday, January 2nd to 32169.13 index points Tuesday, January 3rd. So it’s up 0.22 per cent d/d and 36.12 per cent y/y.

BET (of Bucharest Stock Exchange) increased from 7085.05 index points Friday, December 30th to 7164.35 index points Tuesday, January 3rd. so it’s up 1.12 per cent d/d and 3.78 per cent y/y.

PX (of Prague) was up 0.95 per cent – increasing from 924.04 index points Monday, January 2nd to 932.86 index points Tuesday, January 3rd. It’s down 0.57 per cent y/y.

WIG20 (of Warsaw) was up 1.68 per cent d/d and up 10.26 per cent y/y. It increased from 1956.72 index points Monday, January 2nd to 1989.64 index points Tuesday, January 3rd.

OMXT (of Tallinn) was down 0.16 per cent d/d and up 21.31% y/y. It decreased from 1081.93 index points Monday, January 2nd to 1081.77 index points Tuesday, January 3rd.

OMXR (of Riga) dropped by 0.30 per cent – falling from 733.22 index points Monday, January 2nd to 731.04 index points Tuesday, January 3rd. It’s up 22.69 per cent y/y.

OMXV (of Vilnius) was up 0.25 per cent d/d and up 16 per cent y/y. It increased from 561.73 index points Monday, January 2nd to 563.11 index points Tuesday, January 3rd.

SAX (of Bratislava) increased from 318.57 index points Monday, January 2nd to 318.63 index points Tuesday, January 3rd. So it’s up 0.02 per cent d/d and 10.00 per cent y/y.

SOFIX (of Sofia) was up 0.11 per cent, increasing from 586.43 index points Friday, December 30th to 587.10 index points Tuesday, January 3rd. It’s up 28.41 per cent y/y.

The bourse of Kyiv was closed Tuesday, January 3rd. UX closed at 795.84 index points Friday, December 30th. From year-end it’s up 16.04 per cent.

CROBEX (of Zagreb) is up by 1.96 per cent d/d and 21.43 per cent y/y – increasing from 1991.97 index points Monday, January 2nd to 2025.19 index points Tuesday, January 3rd.

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