GLOBAL & REGIONAL DAILY (Thursday, 17 October 2019)
October 17, 2019
Market worries prevail over whether the EU and the UK can reach a deal-based Brexit in time for the two-day European Council meeting which starts later today. With market focus remaining on the Brexit issue, the GBP firmed further against the USD, European equity markets opened slightly lower, while UST and German Bunds remained supported.
The European Commission, in the context of the assessment of the 2020 Budget, accepted that the fiscal target for a primary balance of 3.5% of GDP for both 2019 and 2020 is feasible.
Cyprus: The Draft Budget Plan of 2020 envisages the general government surplus to decline to 2.7% of GDP down from a projected 3.8% in 2019.
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