The standard of living in Poland improves

(Ministry of Foreign Affairs of the Republic of Poland, CC BY-ND)

In Bulgaria household deposits up 7 per cent y/y

Romania’s government changes boards of directors of state-owned companies

247 innovative firms share HUF68bn (EUR219m) in EU funds

Poland

„The standard of living in Poland has improved faster than in countries in the south of Europe and even in some rich Western European nations,” the Polish Radio informs after Rzeczpospolita daily. This is the result of the survey of the Sustainable Economic Development Assessment (SEDA) 2016. The Boston Consulting Group assessed and compared the quality of life in 162 countries across the world. Poland ranks 30th, behind Spain and some countries with a higher GDP. Norway is the number one.

„Poland was once again among the five countries that make the best use of their economic development, or the most effectively translate the growth of their wealth into an improved standard of living of their citizens. As a result, the standard of living in Poland is not much different anymore from that in the southern European countries,” the Polish Radio informs.

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Bulgaria

As Novinite.com reports, monetary deposits of households in Bulgaria have increased by 7 per cent y/y, reaching BGN43.70bn (EUR21.9bn) as of end-July 2016. It is 49.1 per cent of GPD projected by the country’s central bank (BNB).

The most recent monetary statistical report released by BNB also shows that loans to Bulgarian households totaled BGN18.23bn at the end of July 2016, equivalent to 20.5 per cent of 2016 GDP projection. „The loan volume was 0.4 per cent lower compared to the same month of 2015. The rate of decrease has slowed down compared to the 0.7 per cent annual decline recorded for June 2016,” Novinite.com writes. Loans for house purchases totaled BGN8.73bn and consumer loans reached BGN 7.28bn. 

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Romania

Eximbank, the National Printing, the Romanian Counter-Guarantee Fund, and the National Credit Guarantee Fund for SMEs – all these state-owned companies and institutions will have new board members. As Romania Insider reports, the government decided to change them on August 24th. 

„The executive president of the state-owned bank Eximbank, Traian Halalai, is the best-paid board member in state-owned companies in Romania. He has a gross monthly salary of EUR30,500, according to an official document released by the Government. Radu Gratian Ghetea, who runs the biggest state-owned lender – CEC Bank – is the second best-paid member of a state company board, with a gross monthly wage of close to EUR 28,000,”Romania Insider writes.

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Hungary

The Budapest Business Journal reports that more than 247 Hungarian innovative projects got approx. HUF86bn (EUR219m) in EU funding. The data was released by the Ministry for National Economy.

„The total value of developments which will be realized within the scope of a tender for support for companies’ research, development and innovative activity exceeds HUF128bn. Micro, small and medium-sized enterprises were able to apply for funding, as well as large firms. The non-refundable money is used to support Hungarian projects that result in the development of new, marketable products, services and technologies containing significant intellectual added value,” the Ministry writes in its press release.

During the 2007–2013 EU budget a total of HUF353bn was made available to bidders for R&D and innovation. In the current, 2014–2020 budget, there is twice as much money – some HUF750bn – available for innovative goals.

This is financed from the Economic Development and Innovation Operational Program (GINOP) which has HUF2,730bn.

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What’s up in indexes

BUX (of Budapest) decreased from 27949.27 index points Wednesday, August 24th to 27779.62 index points Thursday, August 25th. So it dropped by 0.61 per cent. From year-end it’s up 16.13 per cent.

BET (of Bucharest Stock Exchange) increased form 6952.26 index points Wednesday, August 24th to 6962.39 index points Thursday, August 25th. So it’s up 0.14 per cent d/d. From year-end it dropped by 6.33 per cent.

PX (of Prague Stock Exchange) decreased from 858.06 index points Wednesday, August 24th to 855.79 index points Thursday, August 25th. So it dropped by 0.86 per cent d/d. From year-end it dropped by 10.51 per cent.

WIG20 (of Warsaw) dropped by 0.26 per cent d/d and by 4.17 per cent from year-end. It decreased from 1786.32 index points Wednesday, August 24th to 1781.68 index points Thursday, August 25th.

OMXT (of Tallinn) dropped by 0.02 per cent d/d – falling from 998.97 index points Wednesday, August 24th to 998.77 index points Thursday, August 25th. From year-end it’s up 11.10 per cent. 

OMXR (of Riga) dropped by 0.42 per cent – falling from 642.26 index points Wednesday, August 24th to 639.54 index points Thursday, August 25th. From year-end it’s up 7.60 per cent.

OMXV (of Vilnius) dropped by 0.10 per cent – falling from 537.88 index points Wednesday, August 24th to 537.35 index points Thursday, August 25th. From year-end it’s up 10.57 per cent.

SAX (of Bratislava) dropped by 0.84 per cent – falling from 316.00 index points Wednesday, August 24th to 313.34 index points Thursday, August 25th. From year-end it’s up 7.18 per cent.

SOFIX (of Sofia) increased from 472.20 index points Wednesday, August 24th to 473.86 index points Thursday, August 25th. So it’s up 0.35 per cent d/d. From year-end it’s up 2.81 per cent.

UX (of Kyiv) dropped by 0.63 per cent – falling from 692.33 index points Tuesday, August 23rd to 687.95 index points Thursday, August 25th. From year-end it’s up 0.30 per cent.

CROBEX (of Zagreb) increased from 1799.97 index points Wednesday, August 24th to 1804.81 index points Thursday, August 25th. So it’s up 0.27 per cent d/d. From year-end it’s up 6.82 per cent.

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