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Events
Databanks
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Argentina databank Dec 29 -
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Central America databank Dec 19
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Chile databank Nov 28
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China databank Mar 21
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Colombia databank Dec 19
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Dominican Republic databank Dec 23
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Ecuador databank Dec 19
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Gulf Countries databank Jan 16
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Hungary databank Dec 17
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India databank Jun 26
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Mexico databank Jan 15
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Panama databank Nov 12
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Peru databank Dec 12
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Philippines databank Jan 8
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Poland databank Nov 3
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Russia Economics databank Jan 16
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South Africa databank Jan 6
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Turkey databank Dec 24
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Ukraine databank Nov 10
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Venezuela databank Jan 7
NEWS FLASH
UPCOMING WEBINAR - VENEZUELA: WHAT'S NEXT?...
COUNTRY INSIGHTS
The federal budget deficit is expected to surpass the revised target
RUSSIA ECONOMICS · In Brief · 09 Sep 2025
According to the Ministry of Finance's 8M25 budget execution statistics, total revenues increased by only 3.0% year-on-year, covering about 61.6% of the adjusted annual plan. The original plan projected oil-and-gas (O&G) revenues at R10.9 trln, but this was revised down to R8.3 trln. Due to a str...
Don’t look up: watch the “peace deal”
UKRAINE · Report · 09 Sep 2025
It’s remarkable how world leaders skillfully avert their eyes from harsh realities, continuing to speak of some fanciful end to the war, and "security guarantees" that offer neither security nor guarantees. This diplomatic ballet feels especially detached from reality when viewed from Ukrainian c...
The STF resumes Bolsonaro’s trial, the report on the Management Committee bill should be released, and the proposal on precatórios should be promulgated
BRAZIL POLITICS · Report · 09 Sep 2025
The First Panel of the Supreme Federal Court (STF) today resumes the criminal trial against former President Jair Bolsonaro (PL) and seven other defendants accused of attempting a coup d’état in 2022. The trial will continue until Friday, September 12. In the Senate, the rapporteur of the complem...
Market and Business Backlash Over Flood Control Corruption
PHILIPPINES · In Brief · 09 Sep 2025
As the Philippines' House of Representatives and the Senate pursue public hearings on the anomalous flood control projects, one clear consequence has been a negative market reaction. Just before the weekend, the Philippine Stock Exchange Index slipped 0.75% (46 points) to close at 6,082.92, while...
A changing of the finance guard
INDONESIA · Report · 09 Sep 2025
On September 8, 2025, there was a change in the line-up of the Indonesian cabinet involving an important post, that of the Finance Secretary. Sri Mulyani Indrawati, the former Finance Secretary, who was in that job for more than 10 years, was replaced by Purbaya Yudhi Sadewa, who had been in the ...
QATAR: Israeli airstrike on Hamas villa in Doha
GULF COUNTRIES · In Brief · 09 Sep 2025
UPDATE: A Qatari security officer was killed. This significantly increases the stakes. Meanwhile, although some Hamas members were killed, the senior leaders were not. At about 4pm local time today, an Israeli airstrike targeted the residence of Hamas's political office in the West Bay Lagoon nei...
Flood control projects: breach of social contract?
PHILIPPINES · Report · 09 Sep 2025
Between 2011 and 2025, the Philippines allocated nearly ₱1.9 trillion to flood control projects, yet flooding has worsened due to pervasive corruption. Investigations reveal that as little as 40 percent of project funds reach implementation, with the rest siphoned off by politicians, DPWH officia...
Economics: Employment stagnates in the second quarter and July 2025
MEXICO · Report · 09 Sep 2025 · 1 response
According to the National Occupation and Employment Survey (ENOE), for the second quarter of 2025 and July, the growth in job numbers indicates a clear slowdown that began last year, consistent with the overall weakening of the economy. The employed population experienced a weak annual increase, ...
Clashes in Istanbul, terror in Izmir
TURKEY · In Brief · 09 Sep 2025
Gursel Tekin pits CHP followers against the police: The sacked CHP Istanbul provincial administration issued a call to members to congregate in front of the headquarters “to defend our ancestral home” against invader Gursel Tekin. Several hundred heeded the call marching towards the building, whe...
August CPI data marks no change in inflation prospects
HUNGARY · In Brief · 09 Sep 2025
The headline rate was 0% mom, 4.3% yoy, the latter unchanged from the previous month. Core inflation moved a bit down, to 3.9% yoy from July's 4% yoy, whereas non-fuel inflation rose a bit, to 5% yoy in August from 4.9% yoy in the previous month. Note: Yoy changes in percent, data right of the ve...
Encouraging August fiscal data for the Treasury, but risks persist ahead of the 2026 budget
ISRAEL · In Brief · 08 Sep 2025
Yesterday, the Ministry of Finance published positive budget data for August. Revenues came in stronger than expected, while the deficit narrowed more than anticipated, with the trailing 12-month deficit narrowing to 4.7% of GDP from 4.8% in July. The improvement largely reflects a sharp accelera...
September 7 highlights the political divide and other weekly topics
BRAZIL POLITICS · Report · 08 Sep 2025
The Supreme Federal Court (STF) resumes the trial of Bolsonaro and seven other defendants accused of attempting a coup d’état. The trial ends on Friday, September 12. Senator Eduardo Braga (MDB–AM) presents his report on Complementary Bill No. 108/22 (Tax Reform regulation). Former Social Securit...
Politics: Mexico pleased with the results of the Sheinbaum-Rubio meeting, but underlying differences remain
MEXICO · Report · 08 Sep 2025
The much awaited meeting between Mexican President Claudia Sheinbaum and U.S. Secretary of State Mark Rubio was finally held in Mexico City on September 3. It was the highest-level meeting between the two countries since Donald Trump took office seven months ago. The meeting was held in shadow o...
MTP 2026-28: Some quick thoughts
TURKEY · Report · 08 Sep 2025
The Medium-Term Program (MTP) for 2026-28 was published in the Official Gazette and presented by Vice President Cevdet Yilmaz and his economic team, including Finance Minister Simsek and CBRT Governor Karahan, at a press conference this morning. We lay out some quick thoughts below.
Russian macro: With the economy persistently slowing, the CBR has to act
RUSSIA ECONOMICS · Report · 08 Sep 2025
In our June macroeconomic forecast, we revised Russia's 2025 full year GDP growth outlook down to 2.0%, with a slightly better figure of 2.4% for next year, expecting a "muddling through" scenario. We noted that the growth model that emerged during the pandemic in 2020 and solidified amidst the 2...