Services

NEWS FLASH

UPCOMING WEBINAR - CAUCASUS AND CENTRAL ASIA: POLITICAL PASSIONS IN THE...

Learn More

COUNTRY INSIGHTS

Inflation in December surprises on the downside
ISRAEL · In Brief · 15 Jan 2024

Inflation in December surprises on the downside Inflation declined by 0.1% m/m and moderated to 3.0% y/y from 3.3% last month (expectations were for 3.1% y/y). Core inflation moderate to 2.7% y/y from 2.9%. Seasonally adjusted CPI in the past three months slowed to an annual rate of 1.5% from 2.3...

United Nations asks for USD 4.2 billion in aid for Ukraine
RUSSIA / FSU POLITICS · In Brief · 15 Jan 2024

On January 15 the UN Office for the Coordination of Humanitarian Affairs (UNCHA) asked for this amount in humanitarian aid. This is to provide for people in Ukraine and for Ukrainians who have fled abroad. 40% of the Ukrainian population is dependent on aid. Over 6 million Ukrainians are refugees...

An exceptionally weak figure for construction in November
HUNGARY · In Brief · 15 Jan 2024

Construction output fell by 2.6% mom, 12.8 yoy in November, on seasonally and day-adjusted basis, of course. This looks exceptionally weak, after 0.3% yoy positive growth in October and -1.1% yoy in Q3. Importantly, the bulk of this weakness is conveniently explained by a major negative base effe...

Oil workers' strike in Kazakhstan
RUSSIA / FSU POLITICS · In Brief · 14 Jan 2024

On January 5 oil workers for a Chinese owned company called Velikaya Stena went on strike in Manghystau Region. They want lay-offs to be reversed and they demand higher salaries and fair working conditions. The strikes are in Aqtau. They have requested the president to mediate. Other oil transpor...

PKK raid, Istanbul race, falling reserves
TURKEY · Report · 14 Jan 2024

AKP nominated former Environmental and Urban Affairs Minister Murat Kurum to challenge Istanbul mayor Ekrem Imamoglu, who seems significantly ahead in early poll data. Yet, Erdogan’s massive propaganda advantage and the strategies of pro-Kurdish party DEM may yet result in surprises. Meanwhile, g...

Markets will be following fiscal adjustments closely
ISRAEL · In Brief · 14 Jan 2024

The fiscal deficit reached 4.2% GDP in 2023. Expenditures increased by 14.2% (mostly in Q4 due to the war) and revenues declined by 6.4%. The deficit is expected to reach 5.7% in 2024 and possibly higher. Fiscal financing will be diverse, both abroad and domestic, but will require large gross dom...

Majority of Filipinos rate inflation as topmost concern
PHILIPPINES · In Brief · 12 Jan 2024

It is not surprising that majority of Filipinos continued to express concerns over the issue of inflation. While inflation descended to only 3.9% in December 2023, already within the official target of 2-4%, the overall 2023 average inflation reached 6.0% (2018=100), the highest since 2008 when i...

State of war
ECUADOR · Report · 12 Jan 2024

President Noboa sent last night the third urgent economic bill, which has one purpose only: to raise the VAT from 12% to 15%. The rationale for the decision is the need to raise financing for expenditures associated with security and for the state of war dictated last Monday in response to nation...

Mixed feelings about the December CPI-inflation data
HUNGARY · In Brief · 12 Jan 2024

The headline rate of CPI-inflation for December was reported at -0.3% mom, 5.5% yoy this morning. Core inflation was much stronger, at 0.2% mom and 7.6% yoy. Non-fuel inflation, which we also think is an important indicator, was 0.1% mom, 6.4% yoy. The yoy headline rate dropped sharply, from 7.9%...

GULF WEEKLY: US strikes Houthis, Saudi issues $12bn in bonds, MBC soars after IPO, Qatar publishes development strategy
GULF COUNTRIES · Report · 12 Jan 2024

A skimmable summary overlaid with our analysis and links. Headlines: * Brent crude rebounded to $80 following US strikes on Yemen, days after it fell over Saudi price cuts. * The Gulf is divided, with Bahrain backing the strikes but Saudi, Oman and Qatar expressing concerns. * Meanwhile, the...

UK Prime Minister in Kyiv
RUSSIA / FSU POLITICS · In Brief · 12 Jan 2024

On January 12 Sunak made the unannounced visit. Like most leaders, he crossed the border from Poland and travelled by train. Sunak announced an aid package of USD 3.2 billion for 2024. This is USD 250 million more than 2023. Bear in mind that with inflation this is a small increase on 2023. Briti...

Baltics donating to Ukraine
RUSSIA / FSU POLITICS · In Brief · 12 Jan 2024

On January 11 Lithuania announced aid for Ukraine including anti-tank weapons, anti-aircraft systems, artillery and shells. On January 11 Zelensky also visited Latvia, where he met the president. Latvia also announced military aid to Ukraine. This comprises anti-tank systems, anti-aircraft system...

President Lula announced Lewandowski as Flávio Dino’s replacement, 21 working subgroups have been created to help regulate Tax Reform, and Brazil will send only a small delegation to the World Economic Forum, to be held in Davos next week
BRAZIL POLITICS · Report · 12 Jan 2024

President Lula confirmed in a speech at the Planalto Palace that former Supreme Federal Court (STF) Justice Ricardo Lewandowski will be the new Minister of Justice and Public Security. He is expected to take office on February 1. State finance secretariats have already established, within the sco...

TOPIC OF THE WEEK: Growth momentum still robust, if gradually moderating in 3Q23
CAUCASUS / CENTRAL ASIA · Report · 12 Jan 2024

With Azerbaijan and Uzbekistan the last CCA countries to report final 3Q23 GDP data, we now have a full picture to assess how economic activity has evolved over the first three quarters of 2023. Economic growth in the region has been steadily diminishing from the peak of 11.6 percent YoY in 2Q21 ...

Charting the economic course under President Milei: a 2024 projection
ARGENTINA · Forecast · 11 Jan 2024

In the brief span since December 10, President Milei's administration has unleashed a barrage of announcements and policy announcements that surpass the combined dynamism witnessed during the eight years of the Macri and Fernandez governments. This fervor signals Milei's commitment to transformat...

Copyright 2025 GlobalSource Partners. All rights reserved.