Services

NEWS FLASH

UPCOMING WEBINAR - PANAMA AND DOMINICAN REPUBLIC ELECTIONS OUTLOOK...

Learn More

COUNTRY INSIGHTS

GULF WEEKLY: Abu Dhabi issues $5bn bonds, transport drives UAE Q3 GDP, Saudi hosts Iranian pilgrims, Oman & UAE sign investment deals
GULF COUNTRIES · Report · 26 Apr 2024

A skimmable summary overlaid with our analysis and links. Headlines: * Saudi Arabia hosted the first formal Iranian Umrah pilgrimage in nine years. * PIF is investing in Saudi Telecom’s tower assets and merging them with its own. * Abu Dhabi issued $5bn 5 to 30-year bonds, the first in three...

NBU cuts prime rate to 13.5% following approval of US support package
UKRAINE · In Brief · 26 Apr 2024

The NBU Board reduced the prime rate by 1.0 ppt to 13.5%, effective April 26. This decision was facilitated by a steady slowdown in consumer inflation (+0.5% m/m or +3.2% y/y in March), a $9.3 billion foreign currency inflow in March, and the recently approved $61 billion aid package from the US....

Kazakhstan macro: the budget still lacks tax revenue as the tenge remains strong
KAZAKHSTAN · Report · 26 Apr 2024

Kazakhstan’s Ministry of Finance published the budgetary statistics for 1Q24, and it appears that the general trends are the same as in 2023—the tax revenue flow remains well behind the plan, while transfers to the republican budget from the National Fund are well ahead of it. The latter factor i...

The Extraordinary Secretary for Tax Reform outlined the details of the regulation of Tax Reform, Justice Zanin suspended sections of the law that extended the payroll tax exemption, and Wednesday, May 1, is a holiday
BRAZIL POLITICS · Report · 26 Apr 2024

Yesterday, the Extraordinary Secretary for Tax Reform, Bernardo Appy, gave a long interview to explain the details of the bill submitted by the government to the National Congress on the regulation of Tax Reform. In other news, Supreme Federal Court (STF) Justice Cristiano Zanin responded to the ...

Webinar Replay - Turkey: Fundamental change or business as usual?
TURKEY · Report · 26 Apr 2024

What does Erdogan's defeat in the municipal elections mean for Turkey? In response, will he rely on pragmatism or return to heterodoxy? Visit our calendar page to watch the replay of our webinar on the implications of Erdogan's political losses for Turkey's macroeconomic and political outlook.

TOPIC OF THE WEEK: Armenia and Georgia rising
CAUCASUS / CENTRAL ASIA · Report · 26 Apr 2024

Once per year, we conduct one of our favorite exercises in the CIS space, which encompasses our target Caucasus and Central Asia region. Based on the April WEO, which has final 2023 PPP-based GDP data, we calculate per-capita GDP levels and 10-year GDP growth rates in order to rank individual eco...

A gentle drizzle to calm the ongoing drought
ECUADOR · In Brief · 25 Apr 2024

The Republic closed an extended facility agreement with the IMF for the next 48 months for $4.0 billion. As of last March, we estimated needs of at least $3.5b to give some breathing space to the tight fiscal situation. This estimate was made before the new challenges Ecuador is facing due to the...

Ukraine receives first US ammo for months
RUSSIA / FSU POLITICS · In Brief · 25 Apr 2024

On April 24 the US dispatched the first installment of the new aid package. The aid package passed the US Senate by an overwhelming majority, and Biden signed it. Within hours aid was on the way to Ukraine. It comes not a moment too soon for Ukraine. The US had identified the munitions and assets...

The government submitted the bills on Tax Reform regulation, Congress postponed the analysis of presidential vetoes, and the AGU filed a lawsuit in the STF against the payroll tax relief bill
BRAZIL POLITICS · Report · 25 Apr 2024

Yesterday, the government submitted a bill to the National Congress that establishes the Tax on Goods and Services—the IBS, whose responsibility is shared between the states, municipalities, and the Federal District; and the Social Contribution on Goods and Services—the CBS, whose responsibility ...

MPC: Back to a wait-and-see mode
TURKEY · Report · 25 Apr 2024

As expected, the CBRT/MPC kept interest rates unchanged today, leaving the policy rate (one-week repo) at 50%. The statement was also little changed, still speaking of ongoing resilience in domestic demand and upside risks to inflation.

Russia: a brief market watch
RUSSIA ECONOMICS · In Brief · 25 Apr 2024

In the past couple of weeks, the USD/RUB fluctuated in a narrow range, influenced by various factors. On one hand, the current account looked wide enough in 1Q24. On the other hand, the exporters face problems with repatriating export earnings to Russia. In this situation, the authorities decided...

Uzbekistan and Kyrgyzstan solve border dispute
RUSSIA / FSU POLITICS · In Brief · 25 Apr 2024

On April 15 Kyrgyzstan gave 208 hectares to Uzbekistan in return for receiving the same amount of territory from Uzbekistan. Ever since the breakup of the USSR a border dispute has simmered. There were Kyrgyz exclaves entirely surrounded by Uzbekistan. The Kyrgyz people in the former exclaves hav...

Industrial growth moderated in March but remained good enough
RUSSIA ECONOMICS · In Brief · 24 Apr 2024

Rosstat reported that industrial output increased in March by 4.0% y-o-y, which brought the 1Q24 y-o-y tally to 5.6% (y-o-y growth was stronger in February due to a leap year). Seasonally/calendar-adjusted industrial output increased by 0.1% m-o-m. The mining segment grew y-o-y by 0.4% and 1.1% i...

Ukraine pressures citizens abroad to come home to fight
RUSSIA / FSU POLITICS · In Brief · 24 Apr 2024

On April 23 Kyiv ended consular services for military aged men (18-60) who are outside the country. The only exemption is for a travel document to allow a men to come back to Ukraine. This comes after Ukraine changed the law to allow more men to be drafted. As Ukrainian men abroad cannot renew vi...

The government is expected to submit the bills on Tax Reform regulation today, and Congress will analyze presidential vetoes today
BRAZIL POLITICS · Report · 24 Apr 2024

Today, the government will likely submit a bill to the National Congress with the regulation of Tax Reform. According to the Extraordinary Secretary of the Ministry of Finance for Tax Reform, Bernard Appy, the regulation of tax reform will be made in two complementary bills and an ordinary bill. ...

Copyright 2024 GlobalSource Partners. All rights reserved.