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Russia ups budget revenues 50% in 4M24, deficit widens
The Russian federal budget posted revenue growth of 50% year on year to RUB11.7 trillion ($128bn) in 4M24, achieving revenue growth rate of 41% y/y in April 2024 alone, according to the preliminary data from the Finance Ministry.
Romania’s central bank takes cautious stance with no-change policy decision
BNR noted that the CORE inflation eased less than expected during the first quarter of the year.
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Czech inflation accelerated to 2.9% y/y in April
Consumer price indices in Czechia increased by 2.9% year on year and by 0.7% month on month as food, alcohol and tobacco prices spiked.
Uzbekistan targets 10mn tonnes of coal production by 2025
Announcement comes after state in April dispensed with regulating coal prices.
North Macedonia’s central bank cuts GDP growth projection for 2024
Forecast lowered to 2.6% after underperformance in 2023 and less favourable external environment this year.
Slovak industrial production dropped by 6.9% y/y in March
The influential sector of transportation equipment manufacturing decreased by 14.7% y/y.
Moldova’s inflation eases to 3.5% y/y in April
Lower utilities prices were the main factor dragging down overall inflation.
Israel’s exposure to Turkey trade ban most evident in construction and food, says Capital Economics
Ankara’s move is, however, unlikely to have a major macroeconomic impact in either country, assessment concludes.
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Czech industry returns to decline in March
Czech industry decreased by 2.7% year on year and by 1.6% month on month in March, the Czech Statistical Office (CZSO) reported. The drop comes after a slight 0.7% y/y increase in February, which ended a three-month skid in industrial output.
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Growth in Kazakhstan services sustained for second successive month, April PMI shows
Firms generally upbeat on year ahead, but facing difficulties in retaining staff.
Albanian lek reaches historic high against euro ahead of Orthodox Easter
The high lek has made Albania's exports increasingly uncompetitive on European markets.
Romania’s April PMI shows output, new orders in positive area after nine-month decline
PMI index compiled by BCR Romania registered its first above-neutral score seen since data collection began last July.
Russian services PMI of 50.15 just above the no-change benchmark as Russia's economy begins to cool
The seasonally adjusted S&P Global Russia Services PMI Business Activity Index just about broke even, posting 50.5 in April, down from 51.4 in March and only just above the 50 no-change benchmark. S&P Global reported on May 6.
Mood in Polish manufacturing falls to six-month low
Poland's Purchasing Managers' Index fell 2.1 points to 45.9 in April.
OECD raises Russia growth forecast to 2.6% for 2024
The Organisation for Economic Co-operation and Development (OECD) has increased its GDP growth projection for Russia in 2024 from 1.8% to 2.6% in 2024, making it the sixth-fastest growing major economy globally this year.
The State of World Press Freedom
The 2024 World Press Freedom Index, compiled by Reporters Without Borders (RSF), was released today. This year, the agency highlights a “worrying decline in support and respect for media autonomy and an increase in pressure from the state.
Russia’s car sector makes almost full recovery from sanctions shock
After coming to a total stand still in the months after the invasion of Ukraine two years ago, Russia's automotive sector has almost made a complete recovery and is on course to sell 1.3mn cars this year - AEB
Official Turkish inflation edges up in April, bordering on 70%
Alternative reading from economists is 124%. Analyst predicts central bank won’t shift to rate cuts until next year.
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PMI shows Kazakhstan manufacturing sector remained in growth mode during April despite flooding disaster
Firms successfully secure new business with competitive pricing strategies.
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Czech PMI deteriorates in April
S&P highlighted stronger contractions in production and weak client demand amid the burdens of the difficult manufacturing environment, which was also pressured by waning external demand.