The World Bank projects Georgian economic growth to slow sharply this year, coming close to 0% in 2020 due to the challenging external environment and impacts of the COVID-19 pandemic. However, the COVID-19 impacts on the Georgian economy “will be partly cushioned by a fiscal stimulus of around 2% of GDP, containing acceleration of capital…
Southern regions of Kazakhstan have already started the planting campaign of spring crops, reported the First Vice-Minister of Agriculture of the Republic of Kazakhstan, Aydarbek Saparov. In particular, Jambyl region planted spring crops throughout 249.5 thousand ha, or 67% of the forecast, Turkistan region – 167.5 thousand ha (25.5%), Almaty region – 97.1 thousand ha…
Municipalities in Latvia will have the right to receive state budget loans to increase base capital of municipal companies if their turnover drops more than 50% because of COVID-19 crisis, as provided by amendments supported by the Cabinet of Ministers on April 9. Finance Ministry explains that for municipalities as capital shareholders to support companies…
The National Bank has predicted a rough crisis scenario for Ukraine in case the country fails to seal a new cooperation program with its key lender, the International Monetary Fund. Following a meeting via video link held between the regulator’s leadership and members of the American Chamber of Commerce in Ukraine, the National Bank will…
In January-March, local budgets of Ivano-Frankivsk region received UAH 1.5 million in tourist tax revenues. Compared with the relevant period last year, the growth in revenues made up 38%, Vitaliy Perederko, the head of the tourism department of the international cooperation, eurointegration, tourism and investments department at the Ivano-Frankivsk Regional State Administration wrote on his…
About 50 factories and businesses will undergo inspections in Georgia to check whether they are properly implementing the recommendations as regards the health and safety of employees amid the coronavirus outbreak, announces the Economy Minister of Georgia Natia Turnava. The government of Georgia suspended several economic activities in the country several days ago when it…
Minister of Rural Affairs Arvo Aller (EKRE) says that Estonia requires a small amount of foreign labor, but that the workforce in the sector could be boosted from among Estonians themselves, during the current coronavirus pandemic and its economic fallout. Aller noted that in the current situation, where unemployment was rising at a rate of…