Slovakia: new levy on retail chains to be introduced in 2019

Bratislava, Slovakia (Kelovy, CC BY-SA)

Poland: can COP24 be a success?

CSE households spent the most in the EU on food

Slovakia

Slovak parliament has just approved a special levy for retail chains — the Slovak Spectator informs. According to the new law some retailers will have to pay 2.5 per cent of their net turnover, starting from 2019.

“MPs have approved the law introducing the levy, authored by the Slovak National Party (SNS). Due to several amendatory proposals submitted by coalition MPs, the new levy will apply only to those retail chains where at least 25 per cent of revenues are comprised of food sales and which have shops in at least 15 per cent of all districts,” the SITA agency quoted by the Slovak Spectator informed.

The new law re-defines the term “retail chain”. The definition has been narrowed “compared with the original proposal it excluded small and medium-sized enterprises (SMEs), shops in the companies and retail shops that sell only one range of food”.

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Poland

Politico.eu wonders whether COP24 that takes place in Katowice (southern Poland) can be successful. Politico quotes Michał Kurtyka, COP24 president, who said: “Without Katowice there is no Paris … What we want to achieve in Katowice is to demonstrate that inclusive growth … can be really beneficial for the entire planet.” said Kurtyka.

Politico points out few obstacles. First of all: although the aim of the international community is to keep global warming to the threshold of 1.5 Centigrade above preindustrial levels and so to achieve net-zero CO2 emissions by 2050, the trend is opposite (according to the UN Environment report emissions are increasing). The second is a disagreement between the ambitious camp (France, the Netherlands, Sweden, Finland, Denmark etc.) and less ambitious camp (although Politico didn’t list those). The third is the timing — Politico writes that “EU governments are having a hard time selling climate protection to their electorates”.

The fourth obstacle raised by Politico is an old division between the rich and the poor. And the fifth is a lack of climate leadership.

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Central and Southeast Europe 

In 2017, households in the European Union spent 12.2 per cent of their total consumption expenditure on food and non-alcoholic beverages — the Baltic Course informs after Eurostat.

The data shows that CSE countries spent the most on food. The share of total household expenditures spent on food was 27.8 per cent in Romania, 21.6 per cent in Lithuania, 20.3 per cent in Estonia, 19.2 per cent in Bulgaria, 18.2 per cent in Hungary, 18.1 per cent in Slovakia and 17.8 per cent in Latvia. Greece, ranked 8th, is the first country outside of CSE.

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What’s up in indexes

BET (of Bucharest) decreased from 8,749.59 index points Wednesday, December 5th to 8,656.79 index points Thursday, December 6th. It’s down 1.07 per cent d/d and up 12.86 per cent y/y.

BUX (of Budapest) decreased from 40,670.44 index points Wednesday, December 5th to 39,747.13 index points Thursday, December 6th. It’s down 2.27 per cent d/d and up 5.73 per cent y/y.

CROBEX (of Zagreb) decreased from 1,741.04 index points Wednesday, December 5th to 1,712.69 index points Thursday, December 6th. It’s down 1.63 per cent d/d and down 5.16 per cent y/y.

OMXR (of Riga) decreased from 951.50 index points Wednesday, December 5th to 951.00 index points Thursday, December 6th. It’s down 0.05 per cent d/d and down 7.36 per cent y/y.

OMXT (of Tallinn) decreased from 1,207.45 index points Wednesday, December 5th to 1,195.05 index points Thursday, December 6th. It’s down 1.03 per cent d/d and down 2.58 per cent y/y.

OMXV (of Vilnius) increased from 638.53 index points Wednesday, December 5th to 639.25 index points Thursday, December 6th. It’s up 0.11 per cent d/d and down 3.34 per cent y/y.

PX (of Prague) decreased from 1,051.00 index points Wednesday, December 5th to 1,038.59 index points Thursday, December 6th. It’s down 1.18 per cent d/d down 1.38 per cent y/y.

SAX (of Bratislava) increased from 331.90 index points Wednesday, December 5th to 334.04 index points Thursday, December 6th. It’s up 0.64 per cent d/d and up 4.20 per cent y/y.

SOFIX (of Sofia) decreased from 597.25 index points Wednesday, December 5th to 592.45 index points Thursday, December 6th. It’s down 0.80 per cent d/d and down 11.08 per cent y/y.

UX (of Kyiv) closed at 1,793.69 index points Thursday, December 6th. It’s 0 per cent change d/d and up 41.21 per cent y/y.

WIG20 (of Warsaw) decreased from 2,354.54 index points Wednesday, December 5th to 2,294.34 index points Thursday, December 6th. It’s down 2.56 per cent d/d and down 4.19 per cent y/y.

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