The last day of the World Economic Forum in Davos

Poland’s President and Prime Minister, Davos, Switzerland (Jakub Szymczuk/KPRP, Public domain)

In Bulgaria housing loans are up 7.4 per cent

Romanian bourse with the new CEO

Switzerland

Polish President Andrzej Duda said in Davos that the door to the European Union should be kept open to aspiring countries, “especially in a situation when we have a Brexit crisis … EU is one body and should be open to those countries and societies which want to join it.” Today Poland’s President will participate in the debate on ‘Central and Eastern Europe: A New Agenda for the Continent?’

Poland’s PM Mateusz Morawiecki met with the US Energy Secretary Rick Perry and discussed Nord Stream 2. According to Morawiecki Perry considers the planned Nord Stream 2 gas pipeline between Russia and Germany a threat to security in CSE. Morawiecki in his interviews said also that 2018 will be great for the Polish and global economies, and Poland’s GDP growth in the last quarter of 2017 “may be close to five percent”, and 4.5 percent for the whole of the year.

The last day of World Economic Forum will bring a special address by Donald J. Trump, President of the United States of America. Central bankers will meet to talk about the end of easy money, as central banks are gradually starting to raise interest rates and unwind bond purchase programs.

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and more

WEF’s program

Bulgaria

Statistics of the Bulgarian National Bank (BNB) have finally detected a significant upheaval in the credit market after years of freezing around zero. Housing loans have risen most heavily – with a significant 7.4% last year, the figures show. As Novinite.com reports the increase in mortgage loans is close to BGN650m. The total volume of mortgage loans as of December 31, 2017 is now BGN9.4bn. Real estate agents comment that the increase is primarily due to the lowering of the interest rates.

Also consumer loans increased by 5.8% or BGN423m reaching total amount of BGN7.7bn as of December 2017. The corporate lending situation is not as optimistic. The growth of business loans is 1.7%, compared to 0.3% in 2016.

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Romania

Bucharest Stock Exchange (BVB) finally has a new CEO – Adrian Tanase, a former Chief Investment Officer of the biggest pension fund, NN Pensii. Romania Insider informs that Mr. Tanase has just been approved by the Financial Supervisory Authority (ASF). The board of directors of BVB appointed him in December 2017.

The last CEO of BVB was Ludwik Sobolewski, former CEO of Warsaw Stock Exchange. He held this position for 4 years, but the board didn’t prolong his mandate. Romania Insider also informs that the main objective of the BVB is shifting the status from frontier market to emerging market.

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What’s up in indexes

BET (of Bucharest) decreased from 8,434.05 index points Tuesday, January 23rd to 8,416.15 index points Thursday, January 25th. It’s down 0.21 per cent d/d and up 13.95 per cent y/y.

BUX (of Budapest) decreased from 40,979.77 index points Wednesday, January 24th to 40,432.00 index points Thursday, January 25th. It’s down 1.34 per cent d/d and up 23.24 per cent y/y.

CROBEX (of Zagreb) decreased from 1,871.98 index points Wednesday, January 24th to 1,867.09 index points Thursday, January 25th. It’s down 0.26 per cent d/d and down 8.34 per cent y/y.

OMXR (of Riga) increased from 1,031.48 index points Wednesday, January 24th to 1,039.68 index points Thursday, January 25th. It’s up 0.79 per cent d/d and up 40.28 per cent y/y.

OMXT (of Tallinn) decreased from 1,285.23 index points Wednesday, January 24th to 1,281.80 index points Thursday, January 25th. It’s down 0.27 per cent d/d and up 16.97 per cent y/y.

OMXV (of Vilnius) increased from 668.80 index points Wednesday, January 24th to 712.57 index points Thursday, January 25th. It’s up 6.54 per cent d/d and up 26.17 per cent y/y.

PX (of Prague) decreased from 1,138.57 index points Wednesday, January 24th to 1,133.76 index points Thursday, January 25th. It’s down 0.42 per cent d/d and up 20.85 per cent y/y.

SAX (of Bratislava) decreased from 339.49 index points Wednesday, January 24th to 335.80 index points Thursday, January 25th. It’s down 1.09 per cent d/d and up 9.78 per cent y/y.

SOFIX (of Sofia) increased from 706.89 index points Wednesday, January 24th to 708.17 index points Thursday, January 25th. It’s up 0.18 per cent d/d and up 15.84 per cent y/y.

UX (of Kyiv) increased from 1,401.45 index points Wednesday, January 24th to 1,421.43 index points Thursday, January 25th. It’s up 1.43 per cent d/d and up 65.92 per cent y/y.

WIG20 (of Warsaw) decreased from 2,621.59 index points Wednesday, January 24th to 2,589.30 index points Thursday, January 25th. It’s down 1.23 per cent d/d and up 24.54 per cent y/y.

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