S&P keeps Bulgaria’s BB+/B rating

Sofia, Bulgaria (xiquinhosilva, CC BY)

Ukraine to get EUR25m more in 2017-2018 from EU

The Slovak Republic: increased sale of electric cars

Moldovan cabinet approves the increase of the lump-sum allowance for first childbirth

Bulgaria

The S&P rating agency retained the sovereign rating of Bulgaria as BB+/B, with a stable perspective. It means that its value remains at a “junk” level, where the country has been since December 2014 due to the developments with Corporate Commercial Bank (Corpbank or KTB), assistance provided to the First Investment Bank, and the overall fiscal deterioration, Novinite.com comments.

As S&P informs, restrictions to the rating include low GDP per capita, institutional weakness and political instability. At the same time, the agency notes that the situation on the labor market improved and that budget deficit is quite low.

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Ukraine

The European Union considers the decentralization reform of Ukraine as the top priority. In November 2016 it sent EUR23m to support the reform. Now it declares it will provide EUR25m more in 2017 and 2018.

The Interfax quotes Dominik Papenheim, a Sector Manager of the Regional and Local Development in the Delegation of the European Union (EU) to Ukraine, saying „the EU anticipates that the funds will be used for concrete projects as soon as possible” and that “EUR25m more will be provided in the next two years if Ukraine meets all the requirements in the decentralization and regional development reform”. Papenheim also confirmed that the EU welcomes the changes made in 2013-2016.

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Slovakia

The Slovak Spectator reports, after Slovak Economy Ministry, that the total number of electric cars sold increased. “In 2013 people and companies bought a total of 19 electric vehicles, in 2014 the figure increased to 65 and in 2015 to 69. Regarding this year, as many as 123 electric cars were sold by the end of October 2016”.

Economy Minister Peter Žiga (Smer) states this is thanks to efforts of the Automobile Industry Association (ZAP) that supported the purchase of 32 electric vehicles. In early November 2016, the Slovak government introduced a scheme worth EUR5.2m (with EUR5m from the recycling fund and EUR200,000 from ZAP resources). Each buyer of a new electric car receives a contribution of EUR5,000, while those who purchase hybrid cars receive EUR3,000. The program will run until the end of 2017 or until all resources are spent. Mr. Žiga informed the government has more plans to support the usage of electric and hybrid cars.

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Moldova

Moldovan Cabinet approved the increase of the lump-sum allowance for the first childbirth by MDL2,200 (EUR101.69) to MDL5,300 (EUR244.98), the Infomarket.md reports. Now the new law has to be adopted by the parliament.

“The second and every next childbirth allowance will be raised MDL1,900. This is provided for by the draft law on children allowances. In line with the document, the lump-sum childbirth allowance will be equal in size to the minimal bundle of commodities the child needs as calculated for the year preceding the year of the child’s birth. The size of the allowance will be approved by the Cabinet every year,” Infomarket.md writes. If the parliament adopts the law, it means additional spending worth MDL90m (EUR4.1m). There are 194,464 children in Moldova and that makes 5.5 per cent of the total population.

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What’s up in indexes

BUX (of Budapest) increased from 30152.01 index points Wednesday, December 7th to 30629.48 index points Thursday, December 8th. So it’s up 1.58 per cent d/d. From year-end it’s up 28.05 per cent.

BET (of Bucharest Stock Exchange) dropped by 0.07 per cent d/d and by 2.01 per cent from year-end. It decreased from 6874.31 index points Wednesday, December 7th to 6861.40 index points Thursday, December 8th.

PX (of Prague) was up 0.60 per cent – increasing from 894.24 index points Wednesday, December 7th to 899.57 index points Thursday, December 8th. So it dropped by 5.94 from year-end.

WIG20 (of Warsaw) was up 1.67 per cent d/d and up 3.33 per cent from year-end. So it increased from 1889.51 index points Wednesday, December 7th to 1921.08 index points Thursday, December 8th.

OMXT (of Tallinn) increased from 1047.83 index points Wednesday, December 7th to 1048.75 index points Thursday, December 8th. So it’s up 0.09 per cent d/d and up 16.66 from year-end.

OMXR (of Riga) decreased from 742.56 index points Wednesday, December 7th to 741.84 index points Thursday, December 8th.  So it dropped by 0.10 per cent d/d. From year-end it’s up 24.82 per cent.

OMXV (of Vilnius) increased from 559.27 index points Wednesday, December 7th to 561.75 index points Thursday, December 8th. So it’s up 0.44 per cent d/d. From year-end it’s up 15.59 per cent.

SAX (of Bratislava) dropped by 0.60 per cent – falling from 304.95 index points Wednesday, December 7th to 303.12 index points Thursday, December 8th. From year-end it’s up 3.68 per cent.

SOFIX (of Sofia) increased from 577.02 index points Wednesday, December 7th to 579.97 index points Thursday, December 8th. It’s up 0.51 per cent d/d. From year-end it’s up 25.83 per cent from year-end.

UX (of Kyiv) dropped by 0.18 per cent – falling from 802.65 index points Wednesday, December 7th to 801.21 index points Thursday, December 8th. From year-end it’s up 16.82 per cent.

CROBEX (of Zagreb) was up 0.01 per cent – increasing from 1988.47 index points Wednesday, December 7th to 1988.67 index points Thursday, December 8th. From year-end it’s up 17.70 per cent.

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