Services

NEWS FLASH

WEBINAR - LATIN AMERICA: FISCAL PRESSURES AND POLITICAL SHIFTS...

Learn More

COUNTRY INSIGHTS

Better than expected Q1 GDP does not (yet) override projected stagnation
ARGENTINA · Report · 26 May 2023

The publication of March's economic activity index (EMAE) allows us to calculate a close proxy of the GDP data that will be officially published on June 22. EMAE´s 1.5% y/y growth, taking the 3-month moving average, suggests a significantly better result for Q1 2023 growth than the -0.7% y/y expe...

A unanimous decision to hike interest rates by 50 bps by the SA Reserve Bank as the rand remains weak
SOUTH AFRICA · Report · 25 May 2023

The South African Reserve Bank (SARB) has once again announced that it is hiking the benchmark interest rate, by 50 basis points—the second of this magnitude after it had slowed its rate of increase to 25 bps in January 2023. This was following this week’s conclusion of its Monetary Policy Commit...

Budget deficit widens in April amid amendments and weak tax revenue flow
KAZAKHSTAN · In Brief · 25 May 2023

In 4M23, the deficit of the republican budget reached KZT1.355 trln amid accelerated growth of expenditures. In 1Q23, this deficit accounted for KZT0.830 trln. Once again, the government amended the 2023 republican budget and increased its spending from KZT20.6 trln to KZT21.6 trln. This amount d...

Russia to deploy nukes in Belarus
RUSSIA / FSU POLITICS · In Brief · 25 May 2023

On May 25 Belarus signed an agreement about Russian nuclear weapons being stationed in Belarus. The Russian news agency TASS reported this. Russia shall still control its non-strategic nuclear arms in Belarus. The Russian Defense Minister was in Belarus to sign the agreement with his Belarusian c...

Russia: a brief market watch
RUSSIA ECONOMICS · In Brief · 25 May 2023

After some appreciation at the beginning of May, the ruble returned to the R/$80 area. The uncertainty remains high, and the recent package of sanctions confirmed that pressure on Russia will continue to increase. Many investors believe new restrictions on the financial sector and the “unfriendly...

The Central Bank announces the possibility of adopting measures to revitalize the economy in the near future
DOMINICAN REPUBLIC · In Brief · 25 May 2023

In a conference at the Association of Industries of the Northern Region, the Governor of the Central Bank indicated that it is highly probable that inflation will enter the target range of 4% ± 1% at the end of this same month of May, before what was planned. According to Héctor Valdez Albizu, "t...

Sailing into the unknown
CHILE · Report · 25 May 2023

The Monthly Index of Economic Activity (IMACEC) for March confirms the ongoing decline in consumption, and stagnation in economic activity. National accounts figures for Q1 2023 highlight the weakness of consumption in a context of high inflation, elevated interest rates and weak consumer confide...

Past the peak of the inflation and interest rate cycle
HUNGARY · Report · 24 May 2023

Following a peak in January and roughly unchanged levels in the rest of Q1, CPI-inflation fell materially in April at last. This new pace of downward movement is likely to become a trend in the next two months and to accelerate further in Q3. We still believe that single-digit inflation by Decemb...

Russian PM in China
RUSSIA / FSU POLITICS · In Brief · 24 May 2023

Mikhail Mishustin spoke in Beijing when meeting his Chinese analogue. He said that relations with China are closer than ever and this would help Russia to resist unprecedented economic pressure. China maintains it is neutral over the Ukraine conflict.  Mishustin went to a business forum in Shangh...

The House approved Deputy Cajado’s report on the fiscal framework, the vote on the edits to the text will continue today, and the National Forum of Governors takes place in Brasília today
BRAZIL POLITICS · Report · 24 May 2023

The House approved Deputy Cláudio Cajado's (PP-BA) report on the new fiscal framework. The score was 372 votes in favor, 108 against, and only one abstention. In a new text presented to the plenary, Cajado made some changes. Voting on the text continues today. Yesterday, only one edit to the text...

April's revenues disappoint. Martinelli faces a key trial for his political career. A new player: left-leaning economist Maribel Gordon is currently the third independent candidate for the presidency.
PANAMA · Report · 23 May 2023

The NFPS deficit in the first quarter exposed a shortfall in tax collection due to a decline in government revenues. Government expenditures continued to rise, while sales tax revenues fell below expectations, the budget, and last year's performance. The authorities provided a partial explanation...

The House should meet to decide whether to vote on the new fiscal framework, the Senate Economic Affairs Committee will hold a public hearing on the payroll tax exemption bill, and the CPIs should define their work schedules today
BRAZIL POLITICS · Report · 23 May 2023

At noon, the leaders of the House will meet to decide on whether the vote on the fiscal framework will take place today or tomorrow. It will most likely be left for Wednesday, May 24. Also today, the Senate Economic Affairs Committee will hold a public hearing on the bill that deals with payroll ...

The MNB started to reduce the O/N deposit rate with a 100 bps first step today
HUNGARY · In Brief · 23 May 2023

The Monetary Council's decision was to reduce the sterilisation rate, which is the O/N deposit rate, by 100 bps to 17%, after keeping it unchanged at 18% since October 14 last year. The repo rate, which is the ceiling for the MNB's interest rate corridor, was reduced accordingly, by 100 bps to 19...

The South African business environment in 2023
SOUTH AFRICA · Report · 23 May 2023

Following the post Covid-19 economic recovery, the South African economy and its corporations are facing a slew of challenges, both new and long-standing—with policy uncertainty and electricity supply shortages being the most prominent of the latter. These have led to low business confidence, wit...

Two recent difficulties in macroeconomic policy
INDIA · Report · 23 May 2023

The RBI has announced that Rs.2000 currency notes would be gradually withdrawn. The announcement features lead time and is not disruptive in the way that the famous "demonetization" announcement of 2016 was. But it provokes unhappy memories of demonetization. Alongside this, a story has been p...

Copyright 2025 GlobalSource Partners. All rights reserved.