Poland to Switch from Emerging to Developed Market by September 2018

warsaw stock exchange

By September 2018, Poland will no longer be ranked by FTSE Russell as an Emerging Market (FTSE Emerging All Cap), but as a Developed Market (FTSE Developed All Cap Ex-US). This will place the country together with 24 other nations including Germany, France, Japan and Australia. Poland is the first Central and Eastern European economy to be upgraded to Developed Market status. Continue reading Poland to Switch from Emerging to Developed Market by September 2018

UK Economic Growth Slows as Brexit Uncertainty Bites

flags of UK and EU combined over icons of London - Brexit concept

The International Monetary Fund expects the UK economy to grow slower this year and has cut its forecast from 2 per cent to 1.7 per cent. For now, the forecast for 2018 remains unchanged at 1.5 per cent. In the aftermath of last June’s referendum the economy initially proved resilient but in recent months – largely driven by a tumble in the value of the pound – inflation has spiked to almost 3 per cent, squeezing real wages. Continue reading UK Economic Growth Slows as Brexit Uncertainty Bites

Romanian Cabinet Reshuffled as New Splits Emerge in Ruling Party

BUCHAREST ROMANIA - MAY 25 2014: The Victoria Palace. Victoria Square.

Romanian politics has once again been thrust into turmoil by clashes within the ruling Social Democratic Party (PSD). For a party which less than a year ago comfortably won a general election, the PSD is currently looking surprisingly ragged. Opinion polls suggest that the party has lost almost a quarter of its supporters since last December’s election, and the prime minister, Mihai Tudose, is in open conflict with the party’s leader Liviu Dragnea. Mr Tudose is not currently, however, expected to face the same fate as his predecessor Sorin Grindeanu, forced out of office in June after the PSD voted to bring down its own government. Continue reading Romanian Cabinet Reshuffled as New Splits Emerge in Ruling Party

Poles Still Keen on German Jobs

Brandenburg Gate in Berlin in Germany. The Brandenburg Gate is a triumphal arch a city gate in the center of Berlin. It is one of the most known sites in Berlin.

Germany remains the primary destination for Poles looking to work abroad. According to Poland’s Centre for Public Opinion Research (CBOS), in 2016, 41 per cent of Poles working abroad chose the country’s Western neighbour, although there have been years when as many as 48 per cent of Poles abroad worked in Germany. There are two reasons Germany remains favourite: an average monthly salary of 3,700 euros — one of the highest in Europe — and the proximity of the labour market.  Continue reading Poles Still Keen on German Jobs

IMF Increases Growth Forecast With Emerging Europe Prominent

Dambovita river and center of Bucharest at sunset time Romania.

The global economy is speeding up but caution is needed. That was the message from leading economists after the International Monetary Fund (IMF) increased its growth forecasts, with global output growth no expected to increase from 3.2 per cent in 2016 to 3.6 per cent this year, and 3.7 per cent in 2018. But the global economy’s recent recovery may not last, despite a pickup in activity in all western countries except the UK. High asset prices, rapid credit growth in China, political turmoil in Catalonia and a cliff-edge Brexit are the primary risks. Continue reading IMF Increases Growth Forecast With Emerging Europe Prominent