Article24 August 2018Reading time 2 minutes

Key events in EMEA and Latam next week

Aside from EMEA and Latam seeing a lot of 2Q GDP results next week, we're looking for Poland's planned 2019 deficit to make its way onto the budget balance sheet

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Polish budget balance should see an unusually strong deficit for this time of year

The budget balance data should provide a strong reduction of the PLN 9.5bn surplus accumulated after June, as indicated by Deputy FinMin Leszek Skiba. A deficit in the central budget is an exception in July – historically there were rather limited changes this month. The most significant thing should be the structure of expenditures; a deficit could be a result of earlier payments of funds that are typically spent in the fourth quarter.  

Moreover, the second GDP reading should confirm 5.1%YoY dynamics in 2Q. We expect a moderation of private consumption from 4.8% to 4.5%YoY, solid investment growth (closing in on 10%YoY) and modest net export surplus - approximately 0.1pp. 

EMEA and Latam Economic Calendar

ING, Bloomberg
ING, Bloomberg