EME Macro/Strategy: Russia macro – low speed, but right direction
GDP slowing, economic polices moving into the spotlight. Russia’s GDP slowing to 0.5% yoy in 1Q19 from 2.7% in 4Q18 puts the government’s economic policies in the spotlight. In recent years, Russia has prioritised stability and buffers, at the expense of quick recoveries in potential growth and household consumption to some extent. This GDP result is likely to put pressure on the administration to shift gradually towards a more expansionary stance. In this report, we argue that the administration is switching towards a more consumer-focused growth policy in the next 18 months.
WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.
A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.
Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.
We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.
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