Ukraine: Polish Pesa with tram production facility in Kyiv

Pesa tram (Frank Paukstat, CC BY-NC)

Hungary: VAT gap falls from 20.9 per cent in 2013 to 13.7 per cent in 2015

Profits of the Latvian banking sector shrink y/y

Ukraine

In about five years the city of Kyiv should buy 165 new trams, over 230 buses and 230 trolleybuses – the Interfax informs after Kyiv City Administration. The first 40 trams will be produced and delivered by the Polish company Pesa which may open tram production facility in Ukrainian capital.

The portal quotes Kyiv Mayor Vitali Klitschko saying: “I will reveal a small secret. When I visited the Polish plant Pesa I arranged with the company’s top managers that they would open their plant in Kyiv – first semi-knocked down and later the full production cycle.”

Kyiv Mayor also informed the city’s rolling stock consists of 400 trams of which 90 per cent are older than 30 years.

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Hungary

Budapest Business Journal reports that the difference between the estimated value add tax (VAT) revenues and the amount actually collected by the state has decreased from 20.9 per cent in 2013 to 13.7 per cent in 2015. The portal underlines that the VAT gap is at current the lowest in the region.

The data comes from the study issued by the European Commission, according to which, the average VAT gap in the Central and Eastern Europe is 25.5 per cent.

The expected total VAT revenues were HUF3.8434 trillion (EUR12bn) in 2015 and the actual collected revenue reached HUF3.307 trillion, so the gap was only HUF527bn.

Hungary is a country with the highest standard VAT rate in the EU: 27 per cent.

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Latvia

Latvian Leta agency informs that the country’s banking sector made EUR219.5m profit in the period January-August 2017. In the same period of 2016 it was EUR341.8m.

According to the data from the Finance and Capital Market Commission (FKTK), as much as 13 Latvian banks and 5 branches of foreign banks showed profits in the period mentioned. Their combined share in the country’s banking sector’s assets was 97.1 per cent.

The agency reminds at the end of August 2017 banking assets totalled EUR28.627bn (down 2.9 per cent compared with the end of 2016 and up 0.6 per cent m/m).

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What’s up in indexes

BET (of Bucharest) decreased from 7,934.63 index points Thursday, September 28th to 7,877.92 index points Friday, September 29th. It’s down 0.71 per cent d/d and up 12.85 per cent y/y.

BUX (of Budapest) increased from 37,191.65 index points Thursday, September 28th to 37,290.65 index points Friday, September 29th. It’s up 0.27 per cent d/d and up 33.23 per cent y/y.

CROBEX (of Zagreb) decreased from 1,821.32 index points Thursday, September 28th to 1,811.12 index points Friday, September 29th. It’s down 0.56 per cent and down 6.71 per cent y/y.

OMXR (of Riga) decreased from 1,001.09 index points Thursday, September 28th to 998.91 index points Friday, September 29th. It’s down 0.22 per cent d/d and up 40.91 per cent y/y.

OMXT (of Tallinn) increased from 1,219.38 index points Thursday, September 28th to 1,225.95 index points Friday, September 29th. It’s up 0.54 per cent d/d and up 22.13 per cent y/y.

OMXV (of Vilnius) increased from 638.75 index points Thursday, September 28th to 641.84 index points Friday, September 29th. It’s up 0.48 per cent d/d and up 17.98 per cent y/y.

PX (of Prague) increased from 1,043.68 index points Wednesday, September 27th to 641.84 index points Friday, September 29th. It’s up 0.48 per cent d/d and up 17.98 per cent y/y.

SAX (of Bratislava) increased from 316.23 index points Thursday, September 28th to 316.77 index points Friday, September 29th. It’s up 0.17 per cent d/d and up 0.09 per cent y/y.

SOFIX (of Sofia) decreased from 689.37 index points Thursday, September 28th to 688.11 index points Friday, September 29th. It’s down 0.18 per cent d/d and up 34.88 per cent y/y.

UX (of Kyiv) increased from 1,174.80 index points Thursday, September 28th to 1,185.31 index points Friday, September 29th. It’s up 0.89 per cent d/d and up 42.59 per cent y/y.

WIG20 (of Warsaw) increased from 2,427.04 index points Thursday, September 28th to 2,453.46 index points Friday, September 29th. It’s up 1.09 per cent d/d and up 41.78 per cent y/y.

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