Page 62 - bne IntelliNews monthly magazine September 2024

62 I New Europe in Numbers bne September 2024
Russian car sales (units per period)
The former Volkswagen plant in Kaluga is back online
The former Volkswagen plant is back at work under new owners and plans to assemble 27,000 cars this year, the Deputy Governor of the Kaluga Region Vladimir Popov said at a government meeting on August 12, Vedomosti reports.
Russia’s automotive sector has made a full recovery from the stoppage caused by the exit of the international players. Russia produced a total of 138,951 cars this July, just over 6,000 more cars than in July 2021, the last July of normal production pre-war when a total of 132,640 cars were manufactured.
Albania’s rampant lek passes ALL100/EUR mark for the first time
The Albanian lek has risen above the symbolic threshold of ALL100 to the euro for the first time, reaching a record high against the European currency. Bank of Albania data showed that on August 12 the euro was exchanged at ALL99.95 in Albania.
The strong rise of the Albanian lek comes despite concerted efforts by the Bank of Albania to prevent the euro from slipping below ALL100. Since May, the central bank has intervened in the foreign exchange market, conducting direct purchases and engaging with commercial banks to avoid further devaluation.
Moldova turns into net electricity exporter on lower domestic consumption in Q2
The industrial slowdown dragged down the total electricity consumption in Moldova by 4% y/y in Q2 (-9% y/y for the non- residential segment) to 925 GWh, according to data provided by the statistics bureau.
The demand from Ukraine and the stable supply from the separatist region Transnistria (815 GWh, counted as neither import nor domestic production), turned the country into a net electricity exporter again. The net export was small, but positive at 8 GWh.
Polish economic growth surges to 4% y/y in Q2
Polish GDP growth surged 4% year on year in the first quarter, picking up sharply versus a revised gain of 1.8% y/y in the preceding three months, seasonally adjusted data from the Central Statistical Office (GUS) showed in a flash estimate
on August 14.
The data appear to show that the Polish economy has now embarked on a path of steady growth in 2024, “driven by private and public consumption fuelled by exceptionally rapid wage growth”, Santander Bank Polska said in a comment. Details of the GDP structure will be published at the end of August.
Source: AEB
13.08.2023 - 12.08.2024 / EUR
Source: Bank of Albania
Moldova: electricity consumption, net export [GWh]
Source: bne IntelliNews
Poland GDP (seasonally adjusted), change y/y
Source: GUS
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