POLITICS & POLICY

Bulgaria – Partnerships: Hungary

Bulgaria and Hungary are planning to sign an economic partnership agreement. According to Bulgarias Economy Minister Bozhidar Lukarski, who attended the Hungarian-Bulgarian business forum in Budapest, Hungarian businesses could invest in many sectors such as information technology, telecommunications, mechanical and electrical engineering. Trade turnover between the two countries rose by 14 per cent in 2015, reaching a value of €1.3 billion. Hungarian Minister of Foreign Affairs and Trade Peter Szijjarto declared that Eximbank will open a €370 million credit fund to incite partnerships between the two countriesbusinesses.

Source: Novinite, 17/03/2016

EU – European Central Bank: Pleasant surprises

The president of the European Central Bank, Mario Draghi, declared last week a package of monetary easing that includes, among other things, refinancing and marginal lending rates and an expansion of its existing quantitative easing program. The aim is to inject more money into Eurozone and reinforcing the fragile economic growth by loosening monetary policy. The ECB is  putting  pressure on commercial banks to lend more. Experts are nonetheless questioning whether these measures’ effects on the real economy will be as expected.

Source: Times of Malta, 18/03/2016

Belgium – Businesses relocation : Traffic congestions

Due to severe traffic congestions, a rising number of companies are leaving the Belgian capital for middle-sized cities in Flanders. Solving mobility problems around Brussels has become a priority since cities like Mechelen, Leuven and Ghent are becoming the new major “office towns”. Indeed, if in 2014 461,000 square meters were sold or rented in the capital, in 2015 the figure was only 288,000 square meters.

Source: Flanders news, 17/03/2016


THE STATEMENT

Europe has not covered itself with glory in how, as a union of 28 members states with 500 million citizens, it has struggled with fairly sharing the burden () (the EU summit may) reach an agreement that could give us, for the first time, a real chance at a sustainable and pan-European solution to the refugee crisis

Angela Merkel, Chancellor of Germany

Source: Ekathimerini, 17/03/2016


NUMBERS

2.2%

The percentage by which assets in investment funds fell in February in Hungary .

Source: Bbj, 18/03/2016

 

86.1%

The percentage by which foreign direct investment fell year on year in January in Bulgaria.

Source: Novinite, 17/03/2016


Photo Credits CC: Initiative D21


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