Page 5 - bne_newspaper_May_11_2018b

The Regions This Week
May 11, 2018 www.intellinews.com I Page 5
Central Europe
Big protests were held in Budapest as Hungary’s lawmakers took their oaths at the start of the new parliamentary cycle on May 8, opened by Presi- dent Janos Ader, who proposed changes in the election law. The demonstration was on a much smaller scale than at two previous anti-govern- ment rallies.
Protests under the banner ‘For a Decent Slova- kia’ attracted up to 25,000 people in Bratislava on May 4. Although still a rather high number for the Slovak population, protests weakened from the peak on March 16 when 65,000 demonstrat- ed. The rally was held to coincide with the day that slain investigative journalist Jan Kuciak was due to marry his fiancée, who was also killed.
Lithuanian producer prices grew 2.2% y/y in April, data released by Statistics Lithuania. Facto- ry gate price growth accelerated in April, marking the eighteenth straight month of annual growth in the PPI.
The Estonian trade deficit increased 60.6% y/y to €228mn in March, Statistics Estonia reported. Exports fell 3% y/y to over €1.1bn, while imports expanded 4% y/y to nearly €1.4bn. The gap is due to weakening external demand and the still strong internal demand, as consumption and investment remain steady.
Latvia's calendar-adjusted industrial produc- tion growth inched up just 0.6% y/y in March, the Central Statistical Bureau (CSB) reported on May 7. The reading is the worst since August 2016. The feeble growth still marks the 19th positive monthly reading in a row.
The Czech unemployment rate is the lowest in the region and fell to 3.2% in April, a drop of 0.3 percentage points (pp) m/m in line with market expectations and signalling an even tighter labour market, data released by the Czech Labour Office on May 10 show.
The slowdown in Czechia's industrial production in March was the worst fall since 2016, after it fell by 1.1% y/y, in a surprise result for the market, according to official figures. The industrial produc- tion decline has been largely driven by the weaker performance of the automobile sector, which is showing signs of saturated domestic and foreign demand for some time.
Fitch Ratings has affirmed Estonia's long-term foreign and local currency Issuer Default Rat- ings (IDR) at A+ with a positive outlook, the agency said on May 4. Estonia's rating remains underpinned by a strong sovereign balance sheet, an effect of sound policies that also boost eco- nomic growth in the Baltic state.
The European Investment Fund (EIF) and Uni- Credit have secured a new credit line worth €340mn designated for innovative SMEs in Bos- nia & Herzegovina, Bulgaria, Croatia, the Czech Republic, Slovakia, Hungary, Romania and Serbia.
Tourist visits in Estonia grew 5% y/y to 239,000 in March, Statistics Estonia announced on May 7. Tourist traffic expanded just 1.4% in annual terms in February. The number of visits from foreign tourists grew 5% y/y, picking up speed from a growth of just 2% y/y in February.
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