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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
The PSDB meets to discuss Doria’s letter to the party’s president, Bolsonaro once again criticizes the electoral process, and public servants are on strike for a salary raise
BRAZIL POLITICS · Report · 17 May 2022
In his letter, Doria claims he is being targeted by repeated "coup attempts". He faces resistance inside and outside the PSDB. He does not believe that the selection of the presidential candidate of the third-way alliance should be made according to polling results. If he is not chosen, he is con...
Excellent GDP growth figure for Q1
HUNGARY · In Brief · 17 May 2022
GDP grew by 2.1% qoq, 8.0% yoy on seasonally adjusted basis in Q1. These numbers are preliminary, no breakdown is available at this stage.As we have said a few times previously, there is currently little problem about growth. There is is much more trouble with equilibrium, including the budget, i...
The results of the PRD elections ratify the political power of the legislators
PANAMA · In Brief · 16 May 2022 · 1 response
What the 4,146 delegates (only 1.3% absentees) decided in Sunday`s PRD elections of the National Executive Committee (CEN) of the Party confirmed the power of the legislators vis-à-vis the executive. The PRD is not only the party of President Cortizo; it also has a majority of diputados in the Le...
Economics: Holes in PACIC package for combating inflation, but it is positive that price controls are not included
MEXICO · Report · 16 May 2022
The gravity of Mexico’s latest inflation results poses major challenges for the federal government and consumers alike, and immediately contributed to Banco de México’s decision last Thursday to raise its same-day interbank reference rate by 50 basis points for a fourth straight time, to 7.0%, in...
The Lula ceiling and other weekly topics
BRAZIL POLITICS · Report · 16 May 2022
The third way parties (PSDB-MDB-Cidadania) meet again to discuss the poll results that will define the selection of the bloc's candidate. Eletrobras's privatization process will be discussed again at the TCU. Public servants continue to pressure the government for salary raises. The fuel price is...
GDP contracted modestly in Q122, not really indicative of actual activity
ISRAEL · In Brief · 16 May 2022
GDP contracted modestly in Q122 The official GDP growth print came in at -1.6% saar in the 1st quarter of the year, following rapid growth of 15.6% in Q421 (and 8.2% growth in all 2021).We stress that that past two years of Covid and periodic Covid restrictions led to significant problems in meas...
Politics: Two tragic examples of government incompetence in the capital’s airspace and Metro
MEXICO · Report · 16 May 2022
Since the very first months of López Obrador’s time as president it has been apparent that his administration would display grave defects in daily governing tasks, a deficiency that translates not only into an inability to address the multiple problems society faces but also into an incapacity to...
Stronger Growth and Higher Inflation: The Central Bank’s Reaction
BRAZIL ECONOMICS · Report · 16 May 2022
Both because Brazilian growth benefits from higher international commodity prices and because the government has been using fiscal and credit stimulus policies to expand demand, economic activity began the year on the upswing. The most recent data indicate that growth in the first quarter was 1.3...
'Careful but resolute price control measures' have sent EURHUF up to 391-392
HUNGARY · In Brief · 16 May 2022
Parliament formally elected Viktor Orbán for prime minister for the fifth time today. In his introductory speech, held in the afternoon, he spoke of inflation, saying that the government and the central bank will need to cooperate to solve the problem. On the government's role, he said: 'Careful ...
SAUDI: Q1 fiscal outturn shows some signs of spending restraint despite the oil surge
GULF COUNTRIES · Report · 16 May 2022
MoF published its Q1 fiscal outturn alongside Aramco’s earnings report. The overall surplus of SR57.5bn ($15.3bn, 6.4% of budgeted GDP) is by far the strongest since the quarterly series began in 2016 and sets the basis for a strong full-year surplus. Although expenditure is generally seasonally ...
The current account strengthens in April causing an unpleasant appreciation of the ruble
RUSSIA ECONOMICS · In Brief · 16 May 2022
As the EU having imposed bans on exports to Russia, appears either quite slow or reluctant to get rid of energy imports from Russia, the latter's current account surplus widened in 4M22 to an unprecedented $95.8bn. In 1Q22, the current account surplus stood at $58.2 bn, implying that in April alo...
The third-way alliance may postpone the selection of its presidential candidate, the TCU will resume the judgment on the privatization of Eletrobras on Wednesday, and the income tax rapporteur may meet with Pacheco to discuss the proposal
BRAZIL POLITICS · Report · 16 May 2022
Quantitative and qualitative polls will be published on Wednesday, May 18, that will determine the selection of the presidential candidate of the third-way alliance. The group’s candidate was expected to be announced on May 18, but this could be postponed and announced at the end of the month ins...
New president of the republic inaugurated, made anti-Russia statements
HUNGARY · In Brief · 16 May 2022
On May 14, Katalin Novák, the first woman in Hungary's history to be the president of the public for five years was inaugurated, replacing János Áder, whose 5-year term had expired.It is quite rare in Hungary that anything about the president of the republic, who is elected by parliament and has ...
A solid pace of recovery in 2022 and 2023. The month of May will be an important one for local politics
PANAMA · Forecast · 16 May 2022
The economy will grow 6.4% in 2022 and 4.9% in 2023. The main drivers will be investments and exports. The former, both private and public, are expected to lead growth due to a low comparison base. The latter, in particular tourism and air transportation, will grow at a solid pace. External condi...
Inflation accelerates, supportive of steady tightening
ISRAEL · Report · 16 May 2022
1. Inflation in April accelerated to 4% y/y, and core inflation by 3.4%, in line with expectations. 2. Inflation is increasingly broad based, a factor that will support monetary tightening. 3. Economic indicators point to steady growth and a tight labor market.