Twelve CSE countries with a very high human development index

(©UNDP)

In Slovakia the highest VAT revenues since 2007

Poland’s Central Airport may cost EUR4.67-EUR7bn

Central and Southeast Europe

Romania Insider publishes results of the UNDP Human Development Report. The Human Development Index (HDI) is “a summary measure of average achievement in key dimensions of human development such as a long and healthy life, being knowledgeable and having a decent standard of living. The HDI is the geometric mean of normalized indices for each of the three dimensions, and ranks countries based on their scores.”

The ranking divides countries into four groups: with a very high, high, medium and low human development. Top 3 countries in the ranking are: Norway, Australia and Switzerland.

There are 12 CSE and CEE countries in the top 50 countries with the very high HDI:

  • Slovenia is 25th;
  • Czech Republic is 28th;
  • Estonia is 30th;
  • Poland is 36th,
  • Lithuania is 37th;
  • Slovakia is 40th;
  • Hungary is 43rd;
  • Latvia is 44th;
  • Croatia is 45th;
  • Montenegro is 48th;
  • Russia is 49th; and
  • Romania is 50th.

The high HDI is in Belarus, Bulgaria, Serbia, Bosnia and Hercegovina, Macedonia and Ukraine.

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Slovakia

Slovak Spectator reports that, according to the Financial Administration, at the end of 2016 the effective tax rate of VAT grew to 15.2 per cent. This is the best result since 2007 and since 2012 when the effective tax rate was at lowest (some 12 per cent). The value added tax rate (VAT) in Slovakia is 20 per cent.

According to the officials the progress is the result of intense works and actions against tax evasion. Since 2012 “the Tax Cobra has disclosed cases with the value of EUR710m”. Not yet closed cases are worth EUR85m more.

The introduction of a control tax statement also had an impact on the tax collection improvement, as it “squeezed the number of recorded risky transactions from 20 per cent down to 12 per cent”.

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Poland

The Polish Radio quotes the Deputy Infrastructure Minister, Jerzy Szmit saying that the planned Central Polish Airport will cost up to PLN20-PLN30bn (EUR4.67-EUR7bn).

The planning stage and the construction should take up to 10-15 years. The plan of building the new Central Polish Airport – an airport hub between Warsaw and Łódź – was accepted by the government in mid-March.

Warsaw’s Chopin airport (the biggest airport in Poland) had 12.8 million passengers in 2016, but projections suggest that it will run out of spare capacity in 2020. According to the estimates of Poland’s Ministry of Infrastructure, there will be 50 million passengers by 2030. In 2016 all Polish airports serviced 34 million passengers.

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What’s up in indexes

BET (of Bucharest) decreased from 7,969.25 index points Wednesday, March 22nd to 7,961.53 index points Thursday, March 23rd. It was down 0.26 per cent d/d and up 17.55 per cent y/y.

BUX (of Budapest) increased from 31,827.13 index points Wednesday, March 22nd to 32,127.89 index points Thursday, March 23rd. It was up 0.94 per cent d/d and up 25.02 per cent y/y.

CROBEX (of Zagreb) decreased from 2,081.26 index points Wednesday, March 22nd to 2,065.15 index points Thursday, March 23rd. It was down 0.77 per cent d/d and up 27.48 per cent y/y.

OMXR (of Riga) increased from 761.67 index points Wednesday, March 22nd to 770.28 index points Thursday, March 23rd. It was up 1.13 per cent d/d and up 25.82 per cent y/y.

OMXT (of Tallinn) decreased from 1,125.13 index points Wednesday, March 22nd to 1,122.86 index points Thursday, March 23rd. It was down 0.20 per cent d/d and up 15.92 per cent y/y.

OMXV (of Vilnius) decreased from 560.15 index points Wednesday, March 22nd to 559.37 index points Thursday, March 23rd. It was down 0.14 per cent d/d and up 11.06 per cent y/y.

PX (of Prague) increased from 978.91 index points Wednesday, March 22nd to 980.76 index points Thursday, March 23rd. It was up 0.19 per cent d/d and up 10.14 per cent y/y.

SAX (of Bratislava) increased from 304.33 index points Wednesday, March 22nd to 307.09 index points Thursday, March 23rd. It was up 0.91 per cent d/d and down 6.15 per cent y/y.

SOFIX (of Sofia) decreased from 639.72 index points Wednesday, March 22nd to 639.35 index points Thursday, March 23rd. It was down 0.06 per cent d/d and up 43.41 per cent y/y.

UX (of Kyiv) increased from 929.85 index points Wednesday, March 22nd to 949.87 index points Thursday, March 23rd. It was down 2.15 per cent d/d and up 64.23 per cent y/y.

WIG20 (of Warsaw) increased from 2,223.84 index points Wednesday, March 22nd to 2,235.33 index points Thursday, March 23rd. It was up 0.52 per cent d/d and up 15.48 per cent y/y.

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