Services

COUNTRY INSIGHTS

The government will submit the 2025 budget proposal this week, the House will continue voting on the second tax reform regulation bill this week, and electoral campaigns can begin on TV and radio this Friday
BRAZIL POLITICS · Report · 26 Aug 2024

This week, the government will send the 2025 budget proposal to Congress. The rapporteur will be Senator Angelo Coronel (PSD-BA). Before being put to a vote in the plenary of Congress, the text will be debated in the Joint Budget Committee. The House will continue this week with the voting on the...

No cut in sight with risks still elevated
ISRAEL · Report · 26 Aug 2024

1. Renewed optimism regarding a possible ceasefire and Israel’s successful operation in Lebanon supported markets yesterday. 2. The labor market continues to tighten, supportive of wage/inflationary pressure. 3. We expect a more hawkish tone (as well as a rate-hold decision) this week, stre...

Overseas Filipino Workers (OFW) remittances: a continuing mitigant in the Philippine economy
PHILIPPINES · Report · 26 Aug 2024

It should be obvious by now that there is no territory in the world where there is no Filipino worker. Globalization has made the world a smaller place to live and work. This is also true for Filipino workers who go abroad on contract or as migrant workers. Diversified across the globe, OFW remit...

Mulino faces five challenges over the next eighteen months. Chapman taps the local market. The principle of specialty that Martinelli is pursuing may be a formidable obstacle to the path of reforms
PANAMA · Report · 26 Aug 2024 · 1 response

The Mulino administration has inherited five critical challenges that impact the future of the country's public finances and the economy as whole: 1) the revision of the sub-system of defined benefits of the state pension program; 2) a tax reform; 3) the decision about the copper mining project, ...

No rate cuts in sight as inflation risks remain elevated
ISRAEL · In Brief · 25 Aug 2024

Geopolitics: There is a renewed optimism in the negotiations regarding a ceasefire/hostage deal, with Hamas sending representatives to Cairo. Following Israel’s pre-emptive strike on some 100 missile launchers in Lebanon poised to fire missiles towards the center of Israel, there is general satis...

Once more on the Lukoil sanction case: much ado about nothing (or very little at most)
HUNGARY · In Brief · 24 Aug 2024

The first news on the Ukrainian government sanctioning Lukoil's transit shipments of Russian crude oil and oil products to Hungary, Slovakia and Czechia, through the southern branch of the Druzhba pipeline that crosses the territory of Ukraine, around mid-July sounded quite dramatic. Then a serie...

Kazakhstan macro: GDP growth gradually decelerates, dragged by delayed budgetary spending, strong tenge
KAZAKHSTAN · Report · 23 Aug 2024

In recent publications, the Bureau of National Statistics of Kazakhstan has provided additional color on the country’s macroeconomic performance of the past few months. According to the Bureau, the nation’s GDP grew by 3.2% y-o-y in 1H24, which looked unimpressive compared to last year’s 5.1% gro...

GULF WEEKLY: PIF returns rise, Oman achieves H1 fiscal surplus, Gaza ceasefire talks drag on, planned Ukraine-Russia talks in Doha fall through
GULF COUNTRIES · Report · 23 Aug 2024

A skimmable summary overlaid with our analysis and links. Headlines: * PIF’s annualized returns since 2017 rose to 8.7%, and its Giga-Project assets doubled in 2023. * Gender equality in the Saudi labor force is improving but still lags on salaries and managerial roles. * The number of new R...

Haddad announced that the government plans to submit an income tax reform proposal, the House will resume voting on the second Tax Reform bill, and election ads can be aired on TV and radio starting today
BRAZIL POLITICS · Report · 23 Aug 2024

Yesterday, Finance Minister Fernando Haddad announced that the government plans to submit a proposal for income tax reform to the National Congress within the next 60 days. The bill is expected to include the creation of new tax brackets and the introduction of taxes on profits and dividends, amo...

TOPIC OF THE WEEK: Tajikistan gets a well-warranted rating upgrade
CAUCASUS / CENTRAL ASIA · Report · 23 Aug 2024

S&P has upgraded Tajikistan to B from B- citing robust GDP growth, improved external position and moderate public debt levels. We think the upgrade is well deserved. Twice in the last year we have posited that perceptions about Tajikistan’s ability to meet external obligations have been unduly pl...

Bi-Weekly Economic News Summary
KAZAKHSTAN · In Brief · 22 Aug 2024

Aug 7 President: Mr. Tokayev approved the national development plan until 2029. According to the document, Kazakhstan's GDP in 2029 should reach $450 bln (vs $225 bln in 2023). GDP per capita in 2029 is targeted at $21,1K (in 2023 - $13,3K). The share of expenditures on food products as a percent...

Interim Results of the Kursk Operation
UKRAINE · In Brief · 22 Aug 2024

More than two weeks have passed since Ukrainian forces began the Kursk operation. The dust has settled a bit, and we now have a clearer picture of what has happened. In short, the Russians have concentrated all their forces on the Avdiivka area (now referred to as the Pokrovsk direction), while U...

Moraes has ordered an investigation into the scandal in his office at the TSE, Congress is working on formalizing an agreement on fund transfers, and a poll on the municipal elections in São Paulo was published
BRAZIL POLITICS · Report · 22 Aug 2024

Supreme Federal Court (STF) Justice Alexandre de Moraes has ordered the opening of an investigation into the exchange of messages between his office's advisors and former aides who worked with him at the Superior Electoral Court (TSE). Today, expert Eduardo Tagliaferro is scheduled to testify at ...

Pacheco said Congress will present a solution to the parliamentary fund transfer issue, the Senate approved the payroll tax relief bill, and Pacheco said the Tax Reform bill’s urgent status will need to be removed
BRAZIL POLITICS · Report · 21 Aug 2024

After a meeting between representatives of the three branches of government, Senate President Rodrigo Pacheco stated that the National Congress will present, within 10 days, a definitive solution regarding the execution of parliamentary fund transfers. This announcement helps to reduce the politi...

Are Philippine flood problems being addressed with inappropriate solutions?
PHILIPPINES · Report · 21 Aug 2024

An answer seems emerging to the question Filipinos ask every year without fail during typhoon season—how long should we have to wait until the flooding problem is finally solved? In Metropolitan Manila, at least, it would take 23 years. Yes, 23 years! This is no exaggeration considering that this...

Copyright 2025 GlobalSource Partners. All rights reserved.