GlobalSource Partners | Country Insights

With a good pace of vaccination against Covid-19, 71% of Brazilians have now received at least the first vaccination dose. With this excellent adhesion, together with the widespread use of masks, for the past few weeks the moving average of daily deaths has been oscillating around 500. All the sa...

Politics: Charges against scientists raise doubts over policy and the country’s top prosecutor

MEXICO · Report · 04 Oct 2021

Many critics have observed that President López Obrador’s “hugs not bullets” approach has translated into a largely hands-off approach to the country’s drug cartels and other organized crime outfits. But it seems that AMLO and other members of his administration, including his Attorney General, h...

The complex scenario for a third candidate and other weekly topics

BRAZIL POLITICS · Report · 04 Oct 2021

As announced by the president of the House, Arthur Lira (PP-AL), the goal is to find a solution for the fuel price issue. In the Senate, the vote on the railways legal framework bill is scheduled for Tuesday, October 5. The DEM and the PSL will formalize their merger. There are a number of releva...

Turkey Covid Watch - October 4, 2021

TURKEY · Report · 04 Oct 2021

Cases edged up over the past two weeks. The test of the system is to come in the coming weeks with the return of the cold weather. Our baseline is some further rise in cases but not sustained exponential growth or lockdowns.

Economic growth moderates in August

RUSSIA ECONOMICS · In Brief · 04 Oct 2021 · 1 response

Rosstat reported that basic sector output (industry, agriculture, construction, transport, trade combined) was up y-o-y by 4.0% and 6.4% in August and 8M21. Growth in August was relatively slow due to negative y-o-y growth in Agriculture (-10.1%) as harvesting season this year started later than ...

Predictably persistent

TURKEY · Report · 04 Oct 2021

Consumer prices increased by 1.25%, m/m, in September, broadly in line with the consensus, including ours, with the 12-month rate rising further to 19.6% from 19.25% in August. Producer prices rose by 1.55% in the month, m/m, with the 12-month rate easing somewhat to 44% from 45.5% earlier, but c...

The politics of the fourth withdrawal

CHILE · Report · 04 Oct 2021 · 2 responses

This week the discussion of the bill enabling a fourth withdrawal of up to 10% of private pension funds moves on to the Senate, having been approved by the lower house. Most observers believe the bill will be rejected in the Senate. Our calculations indicate that, on paper, the bill is four or fi...

Wednesday is the deadline for submitting amendments to the court-ordered payments PEC, the Senate should vote on the new railway legal framework on Tuesday, and the DEM and PSL merger is scheduled for Wednesday

BRAZIL POLITICS · Report · 04 Oct 2021

Deputy Hugo Motta, the rapporteur of the court-ordered payments PEC, should submit his report on the text this week or next week. The rapporteur of the railway framework, Senator Jean Paul Prates (PT-RN), submitted his report last week, and the trend is for approval. The new party formed by the m...

The BoI is likely to announce the end of QE this week

ISRAEL · Report · 04 Oct 2021

Economic indicators point to robust growth in Q321, supported by private consumption and export growth. We maintain our below-consensus inflation forecast, assuming further shekel appreciation and relatively modest wage pressure. The BoI is expected to announce the end of QE this week, presenting...

The China connection

PHILIPPINES · In Brief · 04 Oct 2021

Ongoing efforts by Chinese authorities to rein in excessive leverage in the property sector has had unintended consequences on global financial markets. The financial troubles of heretofore unheard-of Chinese property firm, Evergrande, have not only raised, in a moment of panic, the specter of an...

Tough times ahead

TURKEY · Forecast · 03 Oct 2021

As the debate intensifies on whether the global economy is faced with stagflation, we seem to be certainly looking to one over here. True, growth momentum has turned out stronger than envisaged, but that owes a lot to last year’s massive credit impulse. The “bifurcated” nature of post-Covid r...

Ex-President of Georgia arrested

RUSSIA / FSU POLITICS · In Brief · 03 Oct 2021

Mikheil Saakashvili flew back into Georgia on October 2 for the first time in several years. He had been living in Ukraine. The governing party (Georgian Dream) won local elections on October 3 with 47% of the votes. The opposition says the elections were rigged. Georgian Dream has been accused o...

First round of opposition primaries ended with an almost complete lack of clarity

HUNGARY · In Brief · 02 Oct 2021

The first round of the united opposition's primary election is now over, and voting results are fully counted. Out of the 106 parliamentary constituencies, DK (the Democratic Coalition) has won candidacy in 32, Jobbik in 29, MSzP (the Socialist Party) in 18, Momentum in 15, Párbeszéd in 7 and LMP...

GULF WEEKLY: Saudi pre-budget, Bahrain & Dubai GDP, Bahrain 10% VAT, Kuwait national dialogue

GULF COUNTRIES · Report · 01 Oct 2021

A skimmable summary overlaid with our analysis and links. Headlines: * OPEC expects oil demand to keep rising, although it cut its 2045 forecast by -1m b/d to 108m. * LNG hit a record price, and Brent touched $80 for the first time in three years. * The Saudi pre-budget statement sees a defi...

On Kavcioglu interview, CBRT reserves and September inflation

TURKEY · Report · 01 Oct 2021

We have received a few queries on the topics included in the title above, i.e., statements made by CBRT Governor Kavcioglu in a recent interview; the relative improvement in CBRT reserves, and September inflation forecast, which will be released this Monday. We thought it might be useful to provi...