The Czech, Polish and Hungarian currencies all weakened against the major global currencies this week, as recession fears intensified globally, impacting emerging markets. As investor sentiment became more risk averse, investors have turned to the dollar, and the Polish zloty and the Czech crown both weakened against the greenback. However
The European Commission (EC) will cut Croatia’s maximum share of the EU’s Recovery and Resilience Facility (RRF) stimulus programme by around 13% due to the country’s unexpectedly strong economic performance last year. Croatia’s economy shrank 8.1% in 2020, the year that COVID:19 reached Europe,
Hungary had the highest proportion of solar technology in its electricity production in the EU last year, according to the Hungarian energy and public utility authority MEKH. Solar accounted for 11.1% of electricity generation in Hungary last year, MEKH announced on Monday, local business website Portfolio reported. Athough Hungary’
Surging energy prices pushed prices up across the EU in June, but the three Baltic countries have been hardest hit, according to according to a flash estimate by the EU statistics office Eurostat. Estonia had the highest inflation rate in the EU in June, at 22%, closely followed by Lithuania
Bulgarian Prime Minister Kiril Petkov is trying to save his administration by persuading seven MPs to support his coalition in the wake of populist party There Are Such People’s departure. Former premier Boyko Borissov’s centre-right party GERB initiated a confidence vote on Wednesday, and accused Petkov of failing