Russia

Year 2016 in Ukraine became a year of starting on the economic recovery path. Real GDP growth in 2016 is estimated at 1.4%. It was supported by higher domestic demand. In particular, real private final consumption increased due to higher disposable income primarily attributed to increase in wage income.

Many people may believe that there is no point in being in a hurry since we cannot predict what President Trump will actually do – maybe after all he is not a madman and his actions so far were just a means of conducting a successful campaign. But what if it wasn\'t and what if he actualy does implement everything he promised?

Syrian civil war is ongoing since 2011, but the end of this bloodshed seems to be still far-fetched. On the contrary, the indirect confrontation between Russia and the U.S. on this field seems to grow in tensions in a way that could sometimes remind us of the cold-war period.

The past two weeks were chiefly engulfed by news concerning banks and regulations in relation to cryptocurrencies. Providing some balance on the other side of the spectre were positive pieces introducing Bitcoin´s newfound capacity to cover electricity bill payments in Japan or coffee-breaks in Russia.

The past two weeks were characterized predominantly by discussions over the hacking of Bitcoin exchange BitFinex. Other noteworthy news streamed mainly from Zimbabwe, the U.S., Isle of Man, China, and customarily from Russia.

The experience of dealing with Russia over the past 200 years has taught us that the only thing Russia respects is power; and we will only have power if we stay close to our friends. However, soon thereafter any such pragmatism was once again forgotten and we now continue living with our illusions as if nothing has happened.

During the past few weeks nothing really new occurred in cryptocurrency’s world. The last two weeks, however, have already brought a change. The discussion related to Mike Hearns’s exit about the future of Bitcoin lead by important developers from the community is contributing to this change.

It is settled that provisional application of Deep and Comprehensive Free Trade Area (DCFTA) between Ukraine and the EU will start since January 1, 2016. In a response, Russia is expected to increase trade barriers vis-à-vis Ukrainian goods.

The forthcoming heating season of October 2015–April 2016 may be the most challenging season for the Ukrainian energy sector since Ukraine’s independence. Each subsector of energy sector has its own challenges in addition to the general problems such as the military conflict in the East, currency depreciation, debt accumulation, and high inflation.

On October 28, Colleen Bell, American ambassador to Hungary, pointed out the dire political and social problems Hungary faces today – problems it must solve. The speech, delivered at a university in Budapest, is not the first criticism Hungary received from its Western ally.