Page 6 - bne_newspaper_February_02_2018

The Regions This Week
February 2, 2018 www.intellinews.com I Page 6
Central Europe
Poland wants the US to impose sanctions on the proposed gas pipeline project Nord Stream 2
to link Russia with Germany, Poland’s Prime Minister Mateusz Morawiecki told local media. The PM followed on last week’s comments from the US Secretary of State Rex Tillerson who said while on a visit to Warsaw that Nord Stream 2 was a threat to European energy security.
Hungarian-born billionaire George Soros said Hungary has evolved into a mafia state and that opposition parties are in the pockets of the rul- ing Fidesz party in his speech at the Davos forum. Soros claimed Hungarian Prime Minister Viktor Orban “has been very successful in making the mafia state work efficiently”.
Rating agency Standard & Poor’s affirmed Slovakia’s sovereign rating as 'A+/A1' with a stable outlook. It said it expects the economy to grow above potential – at 3.3% in 2017, 3.8% in 2018 and 4.2% in 2019 – but that the current overheating would not cause permanent damage to competitiveness or the external position, though the current account deficit would
widen this year.
Poland’s GDP grew 4.6% in 2017, the fastest expansion since 2011, a preliminary estimate from the country statistical office GUS showed. The result well beats the 2.9% growth in 2016 and comes on the back of robust consumption and an unexpected recovery in investment, analysts note.
The Latvian economy grew a seasonally adjusted 4.8% y/y in the fourth quarter, a flash reading from the Central Statistical Bureau (CSB) showed. The result shows a slowdown in economic expan-
sion on the seasonally-adjusted expansion of 6.2% y/y in July-September.
Budapest-headquartered budget air-
line Wizz Air’s net profit rose by 3.6% y/y to a record €14mn in the third quarter on revenues of €421mn, up 24% y/y. The company has kept its net profit guidance for the 2017-2018 financial year unchanged at €265mn-280mn.
Estonian industrial production growth picked
up speed to 7.1% y/y in December, working-day adjusted data from Statistics Estonia showed. The expansion puts growth of industrial output at the highest point since May, marking an end to the subdued growth figures that dominated in the second half of 2017.
Poland’s President Andrzej Duda signed into law a controversial bill limiting Sunday retail. The ban on retail on selected – then on most – Sun- days was one of the leading promises of the ruling Law and Justice (PiS) party in the run-up to victo- rious election in 2015.
Hungary’s economic sentiment indicator (ESI) edged up from a record 120.8 in December to 120.9 in January and remained the highest in the region, according to a European Commission sur- vey. The overall Economic Sentiment Indicator for Central and Eastern Europe and the Baltic states expanded to 109.9 points in January from 107.8 points in December, the highest level in 10 years.
Lithuanian retail sales growth slowed down to an unadjusted 4.3% y/y in December at constant prices, Statistics Lithuania reported on January 26. Throughout 2017, growth came in at 4.6%,
a drop of 2.4pp against 2016.