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Events
Databanks
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Argentina databank May 13 -
Brazil Economics databank Apr 14
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Central America databank May 1
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Chile databank Apr 7
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China databank Mar 21
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Colombia databank May 12
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Dominican Republic databank Apr 28
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Ecuador databank Apr 22
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Gulf Countries databank May 16
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Hungary databank Apr 22
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India databank Apr 28
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Mexico databank May 12
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Panama databank May 13
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Peru databank Apr 28
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Philippines databank May 8
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Poland databank Apr 29
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Russia Economics databank May 12
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South Africa databank May 6
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Turkey databank Apr 24
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Ukraine databank May 12
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Venezuela databank May 5
NEWS FLASH
WEBINAR - LATIN AMERICA: FISCAL PRESSURES AND POLITICAL SHIFTS...
COUNTRY INSIGHTS
Russia’s deflation holds for another week and m-o-m deflation in August could be around 0.6%
RUSSIA ECONOMICS · In Brief · 01 Sep 2022
Rosstat reported that in seven days ending on August 29, consumer prices fell by 0.16% w-o-w. The MTD deflation reached 0.54%. It brought down the YTD inflation to 10.38%. In recent weeks deflation was caused primarily by seasonally falling fresh fruit and vegetable prices. Though some other food...
President Tokaev offers to boost liberal economic reforms and hold an early presidential election
KAZAKHSTAN · In Brief · 01 Sep 2022
President Tokaev (69) suggested holding an early presidential election this year, limiting the presidential term by seven years and not allowing re-election. Mr. Tokaev delivered these proposals in his address to the nation at a joint meeting of the lower and upper chambers of the parliament. As ...
Banks’ lending expands in July across the board pointing to a recovery in economic activity
RUSSIA ECONOMICS · In Brief · 31 Aug 2022
Ассоrding to statistics recently published by the CBR, banks provided more loans to the economy in July than in any previous month since March. From March, outstanding credit to other financial and non-financial organizations contracted, while in July, it resumed growth. Total credit grew by 2.7%...
Growth picks up sequentially in Q2
TURKEY · Report · 31 Aug 2022
The Turkish economy grew by 7.6%, y/y, and 2.1%, q/q. While annual growth is broadly in line with expectations, quarterly or sequential growth (calendar- and seasonally-adjusted) presents a somewhat different picture than envisaged, with growth momentum picking up noticeably over the previous qua...
Rare good news on the energy front
HUNGARY · In Brief · 31 Aug 2022
Foreign minister Szíjjártó announced today a new bilateral agreement with Russia on the shipment by the latter of up to 5.8 million cubic meter of natural gas daily throughout September and October, after the shipments of 2.6 million cms per day over the bigger part of August. Hungary used up 11....
The 2023 Federal Budget will be submitted to Congress today, two presidential polls will be published today, and Bolsonaro’s biggest obstacle in the presidential race is his high rate of rejection
BRAZIL POLITICS · Report · 31 Aug 2022
Proposals have been submitted to Congress that postpone the implementation of the culture laws, opening up at least R$ 3.8 billion of space in the Budget. The Ministry of Economy reported that the postponement of the investments in the cultural sector was approved in order to meet the 2022 spendi...
The Kazakh government expects the economy to grow around 4% in 2023
KAZAKHSTAN · In Brief · 31 Aug 2022
At a government meeting last Friday, the authorities presented their view on the country’s economic growth in 2023 and beyond and discussed various scenarios. The baseline scenario assumes that the oil price would stay at $85/bbl on average and the KZT/$ averages at 470 in 2023. GDP is expected t...
Former Soviet President Gorbachev dies
RUSSIA / FSU POLITICS · In Brief · 31 Aug 2022
On August Mikhail Gorbachev died aged 91. Gorbachev ruled the USSR 1985-91. He is widely disliked for allowing the dissolution of the Soviet Union. The economic reforms that he introduced led to chaos and mass unemployment in the 1990s. Gorbachev represents everything that Putin despises. Gorbac...
Azerbaijan takes land from Armenia
RUSSIA / FSU POLITICS · In Brief · 30 Aug 2022
On August 26 the President of Azerbaijan said his army had taken Lachin which is a town connecting the Nagorno Karabakh Region to Armenia. The area had been under the control of 2 000 Russian peacekeepers since 2020 as part of a 5 km wide corridor. There is supposed to be a new route built by 202...
Inflation continues to creep higher
INDONESIA · Report · 30 Aug 2022
The Indonesian economy posted an encouraging result for GDP in Q2 2022, growing by 5.44% Y/Y, significantly above the 5.01% achieved in the previous quarter. In fact, the rate of growth also exceeded the consensus, which expected the rate of growth to be at most 5.20% for the quarter. Compare...
Consumer credit growth gathers pace in July pointing to a rebound in consumer demand
RUSSIA ECONOMICS · In Brief · 30 Aug 2022
CBR reported that in July, the Russian banks granted nearly R1.5 trln in consumer credits in gross terms which means that most likely the outstanding consumer credit grew last month more than in June. In June, outstanding consumer debt to banks grew by a mere R0.1 trln as was reported in the Surv...
Base rate hike was combined with quantitative measures to reduce banks' forint liquidity today
HUNGARY · In Brief · 30 Aug 2022
The Monetary Council held its monthly rate setting meeting today. Unsurprisingly, it raised the MNB base rate further, by 100 bps to 11.75%. Accordingly, the interest rate corridor went up by 100 bps as well, to 11.25-14.25%. The 1-week deposit rate will most likely be raised by the same amount a...
Pro-Moscow Ukrainian shot dead
RUSSIA / FSU POLITICS · In Brief · 30 Aug 2022
On August 29 an official in Kherson was killed presumably by Ukrainian Forces. The man was Alexei Kovalev who was a Ukrainian politician who had been working for the Russian Administration. Kovalev had even been in President Zelensky's party until a few months ago. Ukraine has been very eager to ...
The presidential debate is not expected to cause major changes in the race, the Senate approved the bill regarding health insurance coverage, and the House should vote on provisional measures before they expire
BRAZIL POLITICS · Report · 30 Aug 2022
The most discussed topics in the press following the presidential debate were Lula's slip when Bolsonaro asked him about corruption and the way President Jair Bolsonaro reacted to a question from journalist Vera Magalhães about vaccines. The race remains polarized between Lula and Bolsonaro, with...
China's tech crackdown - an excerpt from my new book, "China's Technology War: Why Beijing Took Down Its Tech Giants"
CHINA ADVISORY · Report · 30 Aug 2022
When Jack Ma, the billionaire founder of Chinese e-commerce company Alibaba, gave a speech on October 24, 2020 to the country’s political and financial elite, he set in motion a crackdown on China’s flourishing technology sector that will have long consequences on China’s economic growth. In my n...