Georgian Prime Minister Irakli Garibashvili projects the Georgian economy to grow by 7.7% this year, while the nominal gross domestic product (GDP) will amount to 57.2 billion GEL (about $18.13 or EUR 15.27 billion). “When we started opening up the economy and removing regulations four months ago, it created quite positive expectations in business and…
An increase in exports of fruits and vegetables to China may become a potential source of growth in the country’s gross domestic product (GDP) and a segment of the Russian market, the Ministry of Agriculture of the Kyrgyz Republic reports. An increase in the volume of exports of fruits and vegetables can significantly accelerate economic…
Revenue of Nordic Aviation Group AS, the Estonian state-owned airline operating under the Nordica brand, declined by 42% YoY, to EUR 61 million in 2020, while the company’s loss grew threefold, to EUR 10.5 million euros. Nearly all of Nordica’s sales revenue was derived from the rental of aircraft and flight crew as regular flights,…
The EU announced new sanctions on Minsk last month, banning the transit of potash fertilizer, oil, and tobacco products. While supporting the sanctions, Lithuania was mindful of the effects on its economy. These may be milder than previously feared. The EU sanctions target Belaruskali, one of the world’s largest potash fertilizer producers. The company uses…
The National Bank of Ukraine (NBU) purchased $26 million on the interbank foreign exchange market last week, according to data provided by the central bank. According to the results of foreign exchange interventions, the National Bank bought $26 million on the interbank foreign exchange market between June 29 and July 2. Since the start of…
In January-June, government borrowings to the general fund of the state budget amounted to UAH 257.8 billion, or 76.6% of the target for this period, the Finance Ministry reported. A total of UAH 211.4 billion was raised from the placement of domestic loan bonds, including UAH 59.7 billion in foreign currency ($1.7 billion and EUR…
Moody’s Investors Service has improved Uzbekistan’s rating outlook to positive from stable, and concurrently affirmed the B1 long-term issuer and senior unsecured ratings and the (P)B1 senior unsecured MTN program ratings. “The outlook change to positive reflects demonstrated improvements to institutional capacity and policy effectiveness that, if continued, will support a higher rating. In Moody’s…