The Estonian economy shrank by 2.9% YoY in 2020, state agency Statistics Estonia reported, while gross domestic product (GDP) fell by 1.2% in the fourth quarter of 2020. The culprit was primarily the COVID-19 pandemic and its ensuing restrictions, though foreign trade actually fared well given the conditions. Manufacturing, trade, accommodation and food services were…
Germany’s Lufthansa plans to operate flights from Lviv Danylo Halytskyi International Airport to the German city of Frankfurt am Main from April 30, the press service of Lviv City Council has reported. According to the report, a new flight on the Frankfurt (Main)-Lviv-Frankfurt (Main) route will be available from April 30. (Ukrinform/Business World Magazine)
Ukrainian Agribusiness Club (UCAB) analyst Svitlana Lytvyn believes that the main reason for the growth in demand for avocado is the trend of healthy eating. In 2020, Ukraine imported 10.8 thousand tons of avocados, up by 28% YoY. The key suppliers of avocados to Ukraine were Peru (23% of Ukrainian imports in physical terms), Israel…
Bilateral meeting of the Minister of Energy and Industry of Kyrgyzstan Kubanychbek Turdubaev and the Minister of Energy of Russia Nikolai Shulginov has taken place. The parties discussed the current state and prospects for development of relations in the energy sector. They also discussed issues related to hydropower projects in Kyrgyzstan, projects in the electric…
Fitch Ratings maintained Uzbekistan’s Long-Term Foreign-Currency Issuer Default Rating at BB- with a Stable Outlook throughout 2020. “Uzbekistan has demonstrated resilience to the coronavirus pandemic, supported by its robust external and fiscal buffers, access to external financing and diversified economy. It was among the few sovereigns to avoid an economic contraction in 2020, as timely…
Minister of Public Administration Jaak Aab (Center) said the government would propose the reintroduction of wage support for areas hit by the latest round of restrictions. Speaking at a February 25 press conference, Aab said: “We’ve agreed to make a proposal to the Unemployment Insurance Fund’s council to weigh wage support in some form in…
State support to help overcome Covid-19 crisis should have been made wider as early as 2020, said Bank of Latvia council member Andris Vilks. “The biggest mistake Latvia committed last year was not providing sufficient support fast enough. The consequences of this are plain to see now. Covid-19 indexes are higher and people are unhappy,”…