Three of the indices on BSE recorded growths in up to 1% in the last but one September week while BG TR30 ended with a decline of 1.22 %. Leader in terms of turnover for consecutive week were registered compensatory bills, with which were concluded transactions for BGN 17 million.

The chairman of the budget commission of the Parliament - Menda Stoyanova announced details of expectations of budget 2013 - for GDP is set up a growth of 1.8 %, the budget deficit is planned to amount to 1.3 % (identical to the forecast for 2012), the minimum salary increases to BGN 310 in January, and pensions are expected to increase by 9-10 %, most likely in April.; On preliminary data of NSI for the second quarter of 2012 the total cost to employers per hour worked by employees increased by 4.8 % compared to the second quarter of 2011, growth in the industry is 2.5 % and in services - 8.9 %. In construction, however, the total cost to employers per hour worked decreased by 2.1 %.

Stock markets in America recorded a minimal decrease, the situation was the same in Japan. With half percentage at plus were delighted investors in Germany and Hong Kong. The Italian government lowered its economic forecast for 2012 to a decline of 2.4 percent - twice as much as the initial expectations, announced Financial Times. Also were revised forecasts for the year budget deficit to 2.6 % of GDP from 1.7 % originally estimated. In 2013, the country's deficit will fall to 1.8 % instead of 0.5 %, as was the original forecast, it said in a statement. The forecast illustrates the problems that create budgetary savings in the implementation of the required fiscal consolidation. The government expects the Italian economy will remain in recession next year, when it will shrink by 0.2 percent. The original forecast was for growth of 0.5 %. The government wants to reduce its debt burden from 123 percent to 116 percent of GDP in 2015. Italian debt is second in size (relative to GDP) in the EU after that of Greece.

UBB Premium Equity and UBB Balanced Fund ended with decreases of respectively 1.65 % and 1.18 %, UBB Patrimonium Land remained almost unchanged, while UBB Platinum Bond rose by 0.10%. Transactions concluded last week have intended to reach the set target weights for each of the positions in the portfolio....more »

Tihomir Nenov, risk manager