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Events
Databanks
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Argentina databank May 13 -
Brazil Economics databank Apr 14
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Central America databank May 1
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Chile databank Apr 7
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China databank Mar 21
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Colombia databank May 12
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Dominican Republic databank Apr 28
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Ecuador databank Apr 22
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Gulf Countries databank May 16
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Hungary databank Apr 22
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India databank Apr 28
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Mexico databank May 12
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Panama databank May 13
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Peru databank Apr 28
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Philippines databank May 8
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Poland databank Apr 29
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Russia Economics databank May 12
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South Africa databank May 6
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Turkey databank Apr 24
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Ukraine databank May 12
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Venezuela databank May 5
NEWS FLASH
WEBINAR - LATIN AMERICA: FISCAL PRESSURES AND POLITICAL SHIFTS...
COUNTRY INSIGHTS
Private consumption decelerates despite wage acceleration
ISRAEL · Report · 05 Jun 2023
1. Wage growth remains sticky, accelerating at an annual rate of 5%. 2. Private consumption growth has decelerated in recent months. 3. The shekel continued to weaken due to uncertainty regarding both the political and geopolitical outlook.
OPEC+ surprises: short-term Saudi cuts and fairer burden-sharing in 2024 and 2025
GULF COUNTRIES · In Brief · 04 Jun 2023
Summary Cuts extended into 2024 at 40.46m b/d, -3.3% below Oct 2022 targets but 1% above Feb 2023 actual.Allocations of 9 states cut by between -6% (Russia) to -42% (Equatorial Guinea) to match real capacity.10 states—including KSA, Kuwait, Oman, Bahrain and Iraq—will maintain the Oct 2022 alloca...
Private consumption decelerates despite wage acceleration
ISRAEL · In Brief · 04 Jun 2023
Wage growth accelerated in Q123 to an annual rate of 6.3% (trend data) from 3.5% in Q422. This wage growth was witnessed in several sectors, both in public sector (wage agreement in the educational sector) but in the private sector as well. Initial data for April point to wage growth of 5.1% y/y,...
New beginnings or business as usual?
TURKEY · Report · 04 Jun 2023
Erdogan’s new Cabinet is full of surprises, highlighted by the return of former economy czar Mehmet Simsek. Simsek though, is only the tip of the iceberg in a Cabinet characterized with conciliatory and capable names drafted from party and civil service. The new Cabinet appears to have been grant...
Ukraine says it is ready for its counter offensive
RUSSIA / FSU POLITICS · In Brief · 03 Jun 2023
On June 3 the Ukrainian President made the statement. He said that it would not be quick and there could be significant casualties. He said Ukraine did not have all the arms it wanted but it cannot delay any further. He has asked for armored vehicles in particular. He also wants more Patriot miss...
GULF WEEKLY: SEZs exempt from Saudisation, Dubai’s Palm Jebel Ali is revived, Sultan Haitham visits Iran
GULF COUNTRIES · Report · 02 Jun 2023
A skimmable summary overlaid with our analysis and links. Headlines: * Oil slipped mid-week but rose after the debt ceiling deal and ahead of the OPEC+ meeting. * Iraq announced plans for a major road and rail corridor from the Gulf to Turkey and Europe. * The Saudi census showed a count of ...
Government deposits in Congress a Fiscal Responsibility Bill
DOMINICAN REPUBLIC · In Brief · 02 Jun 2023 · 2 responses
Yesterday, the Ministry of Finance, on behalf of the Executive Power, deposited in the National Congress a Fiscal Responsibility Bill. The bill seeks to guarantee the sustainability of public finances. The fiscal rule states that annual primary spending growth rate must not exceed the expected in...
Lula appointed his lawyer to the STF, allies of Lira were targeted by a search and seizure operation of the Federal Police, and there will be a national holiday next week (Corpus Christi)
BRAZIL POLITICS · Report · 02 Jun 2023
Confirming expectations, President Lula appointed his lawyer Cristiano Zanin to the Supreme Federal Court (STF). Despite criticism and questioning from the opposition, Zanin's appointment should be confirmed. Allies of the president of the House, Arthur Lira, were targeted by a search and seizure...
Ukrainian attacks on Russian energy
RUSSIA / FSU POLITICS · In Brief · 02 Jun 2023
On June 2 two oil and gas facilities in western Russia were attacked by drones. The Governor of Smolensk Region, where the attacks took place, commented on the attacks. The region has not been previously targeted. It was claimed there were no injuries. Ukraine has neither confirmed nor denied tha...
Bi-Weekly Economic News Summary
KAZAKHSTAN · In Brief · 02 Jun 2023
May 22 KMG: The company may increase dividends for 2022 by 50%, up to $669.2 mln KTZ: The company and one of the world's largest container port terminal operators PSA International (Singapore), launched a joint venture. Both companies will cooperate in the development of the Trans-Caspian route M...
The Monetary Board adopts measures to expand liquidity
DOMINICAN REPUBLIC · In Brief · 01 Jun 2023 · 1 response
The measures adopted today by the Monetary Board provide additional liquidity for DOP 94 b (USD1.7 b). The measures are aimed at providing financing to the productive sectors and households under favorable conditions. Specifically, the measures are: 1. The release of resources from the legal rese...
Essential CIS Politics: June 2023
RUSSIA / FSU POLITICS · Report · 01 Jun 2023
* Russia has taken the city of Bakhmut in Ukraine after 9 months of fighting. * Drones hit both Moscow and, more heavily, Kyiv—in an attack exchange. * The leaders of 6 former USSR nations attended Victory Day ceremonies in Moscow. * All 5 Central Asian presidents attended ...
Ukraine shelling Russia
RUSSIA / FSU POLITICS · In Brief · 01 Jun 2023
On May 31 Russia said that 8 civilians were injured in its Belgorod Region. It has evacuated 300 children from the area. The regional governor said that Ukraine was firing Grad missiles into his region. Ukraine refused to comment on this. A pro-government Telegram channel in Russia said that Ukra...
The House approved the MP on the reorganization of the ministries, the STF scheduled the trial on the allegations of corruption against Deputy Lira for Tuesday, June 6, and the CPMI should meet today
BRAZIL POLITICS · Report · 01 Jun 2023
The House approved the provisional measure (MP) on the reorganization of the ministries. There were 337 votes in favor and 125 against. There was only one abstention. The Senate is expected to vote on and approve the MP as it was passed in the House and submit it for presidential sanctioning. The...
Another government intervention in interest rate policy
HUNGARY · In Brief · 01 Jun 2023
Today's story is not so much the fact that the European Parliament approved a resolution asking the EU Council to find a way to avoid Hungary's six-month presidency in the EU in H2 2024, a critical period right after the election for the EP, due in June next year. That is something for the EU and...