Last year, revenues of 91.5 billion lei (4.5 billion euros) were accumulated at the national public budget, up by 14.1 billion lei YoY. Expenses increased by 17.7 billion lei and amounted to 99.7 billion lei. The budget execution ended with a deficit of 8.2 billion lei, and the balances of the monetary means in the…
While banks are already charging higher rates on loans, they are slow to raise interest rates on deposits. Lithuania’s banking regulators say this is not okay. The European Central Bank raised interest rates four times last year, with commercial banks passing the raises to their debtors: mortgage rates rose to 4% and consumer loans to…
Perspectives of boosting the cooperation between Moldova and the Federal Land Hessen have been considered at a meeting between Prime Minister Natalia Gavrilita and PM of Hessen Boris Rhein in Germany. The officials referred to the importance of developing the bilateral relations in more sectors, in which the parties’ interests coincide. The two officials stressed…
While Lithuanians have generally welcomed Ukrainians fleeing war, competition in the beauty industry has created resentment among local cosmetologists. Xenia from Odesa (not her real name) came to Klaipeda, Lithuania’s third city, back in March 2022, after deciding it wasn’t safe for herself and her daughter to stay in the city shelled by Russia. They…
Galt & Taggart, a Georgia-based investment banking and investment management services, has forecast a 5.2% average annual inflation in Georgia this year. In the estimation, published in its Weekly Market Watch on January 9, the company also said the figure was expected to decrease to 3% until the end of the year. “Along with decelerating…
Ukrainian wind farms have already suffered more than EUR 50 million worth of losses due to the Russian invaders causing damage and destruction to them and stealing equipment. Additionally, over EUR 500 million was lost due to forced downtime. The relevant statement was made by Ukrainian Deputy Energy Minister for European Integration Yaroslav Demchenkov in…
The year of 2023 should become a year of victory for Ukraine and a year to start economic recovery. This was emphasized by Prime Minister Denys Shmyhal at a Government meeting on January 6. “Summing up the results of 2022, I would also like to thank the Ukrainian business, which paid UAH 80 billion more…