The Middle East conference in Poland

The Middle East conference, Warsaw, Poland (Jakub Szymczuk/KPRP, Public domain)

Hungary with the record number of foreign visitors in 2018

The IMF calls for improvement of business climate in Croatia

Poland

A United States-led two-day summit on “peace and security” in the Middle East started in Warsaw. It will address a broad range of security challenges, but, according to CNN, is set to be dominated by Iran. The US Vice President Mike Pence and the Secretary of State Mike Pompeo are the participants of the summit.

Mr. Pence met with Poland’s President Andrzej Duda, and discussed the US military presence in Poland. They also talked about the development of a network of natural gas connectors in this part of Europe, energy security, and cybersecurity. Andrzej Duda and Mike Pence also referred to the Polish-US general business cooperation. “Right now, Poland is developing at a good pace, economic results were better than expected, better than the analysts predicted, including those representing various world agencies, so the situation is very good,” said Mr. Duda.

Today, Mike Pence will address the participants of the summit. As CNN reports he “will essentially call out Iran for their actions”. Attendees will discuss “regional crises and their effects on civilians in the Middle East; missile development and proliferation; cyber security and emerging threats to the energy sector; and countering extremism and illicit finance.”

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Hungary

In 2018, Hungary attracted a record number of foreign visitors — 650,000 more y/y, according to data released by Hungarian Tourism Agency (MTU). “The number of tourism nights spent in commercial accommodations in 2018 went up by 1 million to close to 31 million compared to 2017,” Zoltan Guller, director general of the MTU commented on the data.

The first are German tourists with over 2 million of guest nights, followed by visitors from the United Kingdom and the Czech Republic, who spent 1,050,500 and 933,900 guest nights, respectively. Tourism and the catering industry accounted for over 10 per cent of Hungary’s GDP last year.

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Croatia

The International Monetary Fund’s (IMF) executive directors concluded the 2018 Article IV consultation with Croatia. According to IMF, in 2018, Croatia continued its fourth year of positive economic growth supported by strong private consumption, and exports of goods and services. IMF also reported that fiscal consolidation continued but at a slower pace, and called for more ambitious restructuring of public administration.

IMF Directors highlighted the need to improve the business environment by further reducing administrative and tax burdens, and welcomed recent initiatives to reduce parafiscal fees.

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What’s up in indexes

BET (of Bucharest) increased from 7472.38 index points Tuesday, February 12th to 7641.36 index points Wednesday, February 13th. It’s up 2.05 per cent d/d and down 6.10 per cent y/y.

BUX (of Budapest) decreased from 40488.00index points Tuesday, February 12th to 40209.00 index points Wednesday, February 13th. It’s down 0.69 per cent d/d and up 4.75 per cent y/y.

CROBEX (of Zagreb) increased from 1,750.00 index points Tuesday, February 12th to 1,755.28 index points Wednesday, February 13th. It’s up 0.30 per cent d/d and down 3.53 per cent y/y.

OMXR (of Riga) decreased from 991.00 index points Tuesday, February 12th to 984.97 index points Wednesday, February 13th. It’s down 0.61 per cent d/d and down 1.89 per cent y/y.

OMXT (of Tallinn) decreased from 1218.02 index points Tuesday, February 12th to 1216.79 index points Wednesday, February 13th. It’s down 0.10 per cent d/d and down 4.03 per cent y/y.

OMXV (of Vilnius) decreased from 641.18 index points Tuesday, February 12th to 639.67 index points Wednesday, February 13th. It’s down 0.23 per cent d/d and down 4.99 per cent y/y.

PX (of Prague) increased from 1057.32 index points Tuesday, February 12th to 1058.06 index points Wednesday, February 13th. It’s up 0.07 per cent d/d and down 4.83 per cent y/y.

SAX (of Bratislava) decreased from 337.22 index points Tuesday, February 12th to 335.70 index points Wednesday, February 13th. It’s down 0.45 per cent d/d and up 1.80 per cent y/y.

SOFIX (of Sofia) increased from 573.30 index points Tuesday, February 12th to 573.90 index points Wednesday, February 13th. It’s up 0.10 per cent d/d and down 17.79 per cent y/y.

UX (of Kyiv) increased from 1696.71 index points Tuesday, February 12th to 1698.81 index points Wednesday, February 13th. It’s up 0.12 per cent d/d and up 15.9 per cent y/y.

WIG20 (of Warsaw) decreased from 2370.99 index points Tuesday, February 12th to 2346.39 index points Wednesday, February 13th. It’s down 1.04 per cent d/d and down 3.51 per cent y/y.

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