Estonia: EBRD lowers economic growth forecast

The European Bank for Reconstruction and Development (EBRD) has lowered its forecast for Estonia’s economic growth this year by 0.2%, to 3.6%, citing poor corporate investment. The EBRD highlighted that following the investment-led strong gross domestic product (GDP) growth recovery of 4.9% in 2017, economic growth in Estonia slowed down to 3.5% YoY in the…

Ukraine: gas price for population grows

On November 1 the price for natural gas for the population grew by 23.5%. The corresponding decision was earlier approved by the Cabinet of Ministers. Taking into account the delivery and VAT, the new gas price amounts to UAH 8.55 thousand per 1,000 cubic meters for the population, and UAH 8.36 thousand for district heating…

Georgia: Badagoni wine among world’s top 100

A red dry wine “Alaverdi Tradition” produced by the Georgian wine company Badagoni is among the top 100 wines of the world, announces Badagoni. “Alaverdi Tradition” was named one of the world’s best wines by the jury of the prestigious Sydney International Wine Competition in Australia. In the competition, wines from the most prominent winemaking…

Kazakhstan: GDP per capita to increase

Minister of National Economy of Kazakhstan Timur Suleimenov has announced a forecast of the country’s social and economic development for 2019-2023. “The forecast is based on the statistical reporting data on GDP for 2017, the results of economic sectors in seven months of the current year, and the trends on world commodity markets,” said Timur…

Azerbaijan: unemployment rate to drop

By 2030 there are plans to reduce the unemployment rate to 4% in Azerbaijan, as well as to bring the unemployment rate among women and youth to a minimum, according to the Employment Strategy of Azerbaijan for 2019-2030. The unemployment rate in Azerbaijan in 2017 was 5%, the unemployment among women was 5.9%, among young…

Ukraine: Zhytomyr region exports 64% to EU countries

Zhytomyr region sells 64% of its export products to the countries of the European Union, Vice Prime Minister for European and Euro-Atlantic Integration of Ukraine Ivanna Klympush-Tsintsadze said during the regional conference “European Integration: The Power of Opportunity” held in Zhytomyr. “I am glad that 64% of exports from Zhytomyr region are directed to the…

Ukraine: Ryanair launches flights from Kyiv’s Boryspil airport to another six cities in Europe

One of Europe’s largest low-cost airlines, Ryanair, on October 28 launched flights from Kyiv’s Boryspil Airport to another six cities in Europe, namely Vilnius (Lithuania), Warsaw and Bydgoszcz (both in Poland), Barcelona (Catalonia, Spain), Bratislava (Slovakia), and London (the United Kingdom). Flights to Vilnius are scheduled for Mondays, Fridays and Sundays. The first flight to…

Latvia: construction costs up in September 2018

Compared to August, the level of construction costs in Latvia rose by 0.5% in September. Labor remuneration of workers increased by 1.2%, maintenance and operational costs of machinery and equipment by 0.5%, and prices of building materials by 0.1%. In September the average level of construction costs was mostly affected by the increase in labor…