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The government discusses the loyalty of its governing coalition, Lula has not yet appointed the new directors of the Central Bank, and the rapporteur of the fiscal framework should submit his report next week
BRAZIL POLITICS · Report · 05 May 2023

President Lula will meet with grassroots parties, especially the MDB, União Brasil, PSB, and PSD to discuss their loyalty. These parties mostly voted against the government on the legal framework for the sanitation sector. Regarding the sanitation issue, the government is even considering issuing...

Bi-Weekly Economic News Summary
KAZAKHSTAN · In Brief · 05 May 2023

Apr 21 KTZ: The company, the Russian Railways Logistics, and the Transport and Logistics Center of Turkmenistan signed a memorandum on the establishment of a JV for the development of the North-South corridor Samruk-Energo: The shortage of electric power in Kazakhstan by 2029 will reach 3 GW Apr ...

April inflation below expectations
PHILIPPINES · In Brief · 05 May 2023

Food prices continued to fall for the third straight month, pulling down the headline inflation rate from a peak of 8.7% in January to 6.6% in April. As in February and March, April inflation was below analysts’ 7% median forecast. Aside from food prices, which partly reflects seasonal factors (e...

Unprecedented
VENEZUELA · In Brief · 04 May 2023

On May 1, 2023 the Maduro government chose to increase the legal minimum income by raising the food bonus, adjusting the amounts of the bonus called Bono Contra la Guerra Económica (Bonus Against the Economic War, BCGE) paid to public employees, retirees and pensioners, and formalizing the indexa...

Reforms to increase judicial independence has been approved by parliament, but implications on the availability of EU grants remain unclear
HUNGARY · In Brief · 04 May 2023

The National Assembly approved the government's reform package to increase the independence of courts yesterday, as required by the EU Commission for Hungary to gain access to a big part of its currently blocked development grant quotas from the EU. This came after a long series of detailed talks...

Amid intensifying headwinds, load shedding remains the major drag on South Africa’s economy
SOUTH AFRICA · Forecast · 04 May 2023

• South African growth: In 2022, South Africa’s economy slowed markedly from 2021’s robust recovery. This took place alongside a broader moderation in growth globally and an overall decline in commodity prices, which had played an important role in the country’s growth in 2021. Most notably thoug...

The Federal Police searched Bolsonaro’s home, the government was defeated in the House on the legal framework for the sanitation sector, and the rapporteur of the fiscal framework should submit his report on May 10
BRAZIL POLITICS · Report · 04 May 2023

Authorized by Justice of the Supreme Federal Court (STF) Alexandre de Moraes, the Federal Police (PF) carried out an operation at the former President's residence. The purpose of the investigation was to find out if Jair Bolsonaro faked his vaccination card. Two draft legislative decrees were put...

21 Russian cities cancel Victory Day Parade
RUSSIA / FSU POLITICS · In Brief · 04 May 2023

On May 5 cities had made the announcement. Some of them announced this several days before. Most of these cities are close to the Ukrainian frontier. However, some of them are even in Siberia. Tyumen in Siberia said it made the decision on security grounds. An ulterior reason could be that not en...

Better than expected, but still sticky
TURKEY · Report · 03 May 2023

Consumer prices rose by a lower than expected 2.4%, m/m, in April, with the 12-month rate easing further to 43.7%, y/y, down from 50.5% in March – and a peak of 85.5% last October -- as the base effect has continued through April. Our even larger miss (3.3%) stemmed from a sharper drop in energy ...

A deal has been reached with the EU on Ukrainian agricultural exports into the CEE
HUNGARY · In Brief · 03 May 2023

A few weeks ago, Hungary, following Poland and followed a bit later on by Slovakia, unilaterally banned the imports of Ukrainian agricultural goods, claiming that the removal of quantitative quotas and tariffs by the EU after the start of the war had resulted in heavily increased quantities of im...

Ukraine denies trying to kill Putin
RUSSIA / FSU POLITICS · In Brief · 03 May 2023

On May 3 Russia said that an overnight drone attack on the Kremlin was a bid to kill their president. Russia said it took down the drones and released a photo of an explosion above the Kremlin but said no one was injured. Zelensky on a trip to Finland took the unusual step of denying the attack. ...

Russia political, pandemic update: Fasten seatbelts securely…
RUSSIA ECONOMICS · Report · 03 May 2023

Public sentiment didn’t change much in April as the Russian authorities continued to enjoy strong popular support. Even though the economic statistics for April were not yet published as of these polls, it seems that the economy continued to adapt gradually to the new reality, and the majority of...

The vote on the Fake News Bill was postponed, the Central Bank will decide on the interest rate today, and several ministers will attend public hearings in the House
BRAZIL POLITICS · Report · 03 May 2023

The postponement request on the Fake News Bill was made by the rapporteur, Deputy Orlando Silva (PCdoB), and by several party, government and opposition leaders. There is no date set for the vote. If it doesn't take place next week, it should be put to a vote on the week of May 22, since the new ...

Essential CIS Politics: May 2023
RUSSIA / FSU POLITICS · Report · 03 May 2023

* Russia has begun a new military recruitment drive. * Russia published a foreign policy strategy calling for collaboration with the Global South. * The Battle of Bakhmut continues, with Russia making slow progress. * Finland joined NATO, giving Russia another 1,300 km border to gua...

US hosting Azerbaijan-Armenian talks
RUSSIA / FSU POLITICS · In Brief · 03 May 2023

On May 1 the foreign ministers of the two former Soviet republics met in Washington. The US Secretary of State brokered the talks. The talks are due to last until May 5.  Tensions have risen between Armenia and Azerbaijan over the disputed Nagorno Karabakh Region. Azerbaijan blocked a road that l...

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