Ukraine: 40% of economy in shadow

Ukrainian Social Policy Minister Andriy Reva says 40% of Ukraine’s economy remains in the shadow, therefore the developed countries’ standards of solving economic problems cannot be effective in Ukraine, while de-shadowing will bring more money to the wage fund than the actual economic growth. “This was proved by the government in 2017. The entire wage…

Ukraine: local budgets up in two years

Incomes of local budgets have grown almost 4-foldover the past two years, Prime Minister of Ukraine Volodymyr Groysman said during a meeting with representatives of regional media. “When we started to work, the local budgets amounted to UAH 64 billion and did not have own revenues. Now they amount to UAH 231 billion, which is…

Belarus: farm exports up in January-February 2018

In January-February Belarus’ farm exports rose by 7.4%, Aleksei Bogdanov, Head of the Central Office for Foreign Economic Activities of the Belarusian Agriculture and Food Ministry, said at the Dairy Belarus international forum. “In January-February the Belarusian agricultural industry expanded by 7.4% over January-February 2017. The trade reached $765 million. We recorded the growth in…

Azerbaijan: major bank creates investment company

Azerbaijan’s Bank BTB has created a BTB Kapital investment company.

The authorized capital of the company is 350,000 manats. The official representative of the company is Rustam Jafarov.

Presently, five investment companies with a total turnover of 4.3 billion manats operate in Azerbaijan.

Bank BTB has been operating in Azerbaijan since 2010. (Trend/Business World Magazine)

Poland: trade turnover with Ukraine up in 2017

Relations between Ukraine and Poland are developing successfully, in particular, in the economic sector, Ambassador Extraordinary and Plenipotentiary of the Republic of Poland to Ukraine Jan Pieklo said. “In most sectors the relations between Ukraine and Poland are good and very good, particularly with regard to cooperation in the economy. In recent years, the parties…

Ukraine: Croatia to assist in energy security

Ukraine maintains its interest in the Baltic, Adriatic, Black Sea Initiative put forward by the Croatian president and believes that joining it meets its objectives, Ukrainian Deputy Prime Minister for European and Euro-Atlantic Integration Ivanna Klympush-Tsintsadze has said. She stated this at a meeting with Croatian Prime Minister Andrej Plenkovic in Zagreb. “Ukraine is one…

Turkmenistan: development of economic co-operation discussed with Romania

The Ministry of Finance and Economy of Turkmenistan and the Ministry of Economy, Commerce and Business Environment of Romania have signed a memorandum of understanding on cooperation in the economic sphere. The document was signed in Ashgabat as part of the seventh meeting of the joint Intergovernmental Turkmen-Romanian Commission for Economic, Scientific and Technological Cooperation.…

Kazakhstan: economic growth praised

Prime Minister of Kazakhstan Bakytzhan Sagintayev praised national GDP growth in 2018 at the session of the government on April 17. “From what we have heard during reports today it follows that GDP growth amounted to 4.1% in March. The Head of State Nursultan Nazarbayev tasked the government to step up economic growth and given…

Tajikistan: cement production up in Q1 2018

Over 782,400 tons of cement were produced in Tajikistan in the first quarter of this year. The volume of cement production increased by 356,000 tons compared to January-March of the previous year, according to the profile departments of the country’s economic bloc. Taking into account the implementation of new infrastructure projects, construction of residential houses,…

Ukraine: $400 million in military products exported to India in three years

CEO of Ukraine’s state-run military-industrial concern Ukroboronprom Pavlo Bukin says Ukrainian enterprises of the military-industrial complex in the past three years exported military products to India to the tune of about $400 million. Mykolaiv-based Zorya-Mashproekt alone sold gas turbines worth $200 million to the Indian Navy for its warships, the concern’s press service said. “In…

Azerbaijan: Aliyev Airport passenger throughput up in Q1 2018

During the first three months of 2018 Heydar Aliyev International Airport served over 897,000 passengers. This indicator exceeds the same indicator of the previous year by 15%. National air carrier Azerbaijan Airlines (AZAL) carried 362,000 passengers, while the national low-cost airline Buta Airways – 104,000 passengers. 768,000 passengers (85.6% of passenger traffic) accounted for international…

Belarus: trade with Turkey to grow

A Belarusian parliamentary delegation headed by Valery Voronetsky, Chairman of the Standing Committee on International Affairs of the House of Representatives of the National Assembly of Belarus, met with Chairman of the Committee on International Affairs of the Grand National Assembly of Turkey Volkan Bozkir in Ankara, the press service of the House of Representatives…

Estonia: TLT CEO Enno Tamm to step down

Tallinna Linnatranspordi AS (TLT) board chairman Enno Tamm is to step down as soon as a new CEO for Tallinn’s transport company has been found. Tallinn Mayor Taavi Aas (Center), who conducted a meeting of the supervisory board of TLT for the last time, said that Tamm had submitted a letter of resignation, which would…

Georgia: airport passenger traffic up in Q1 2018

Georgia’s three international airports served 839,612 passengers in the first three months of 2018, up by 36% YoY. The number of passengers who took regular or charter flights in Georgia increased in all three main airports of the country: Tbilisi Shota Rustaveli International Airport, Batumi International Airport and Kutaisi David Aghmashenebeli International Airport. More specifically,…