Iran decided to impose a fixed exchange rate on its currency to the dollar and has banned unregulated trade after it reached a record low level. In addition, the Iranian central bank has introduced a limit of 10,000 EUR for funds owned by citizens outside banks. The citizens a few days (by the end of
Posts by: Silvia Hristova
The average hourly labor costs in the EU economy were 26.80 EUR in 2017, varying widely from 4.90 EUR in Bulgaria to 42.5 EUR in Denmark. The value includes agriculture and public administration, calculating all the costs for wages but also social charges paid by the employer. For the Eurozone the the labor costs in
The Turkish economy overheats and this could be just as much a problem for President Recep Tayyip Erdoгan as for the country’s creditors. The Turkish president needs guarantees that there will be no economic difficulties threatening his chances in the next election. The TRY is bending under the weight of the growing current account deficit
The ruling Hungarian conservative party Fidesz won convincingly the parliamentary elections, giving Viktor Orban a third consecutive term in office. According to official estimates, based on 93% of the votes, Fidesz and its junior coalition partner, the Christian Democratic People’s Party, will have 133 seats out of a total of 199 in the new parliament.
The Chinese services sector slows down its growth rate in March. The PMI, which is prepared by the private analysts Caixin and Markit, fell from 54.2 points in February to 52.3 points in March. This is the lowest level since November. Any value above 50 points signals for expansion, and every 50 signals for contraction
More than 3 million young people in the European Union have been in a college or university, but have stopped education at some point, according to Eurostat data for 2016. At the same time, more than 30 million young people graduated. The reasons for interruption of education are different. Nearly 25% prefer to work instead
The US production activity slowed down in March with a decline in new orders, but growth in the manufacturing sector remains backed by a strong domestic and global economy. The data show a slight increase in construction costs in February. The figures support economists’ view that economic growth slowed in the first quarter due to
The Russian economy growth has slowed sharply in Q4 2017, but for the entire year the gross domestic product (GDP) expanded for the first time in three years, increasing by 1.5%, according to official state statistics. Russia’s Gross Domestic Product rose in the fourth quarter of 2017 with only 0.9% yoy, after a solid expansion
Russian manufacturing activity rose slightly in March, but remained below its long-term average, as growth in new orders and production slowed down. This is clear from the PMI index quoted by Reuters. The Purchasing Managers’ Index (PMI) in the country in March slightly rose to 50.6 points from the reported 50.2 points in February, thus
The expansion of Nord Stream will reduce transit of Russian natural gas through Ukraine, and will therefore limit revenue from transit fees, which are estimated at billions of dollars per year. In 2017, the country received 3 billion USD from Gazprom for gas transit. But the negative effects on Ukrainian consumers do not end here.