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Ukraine: gas reserves up in May 2019

In May Ukraine increased gas reserves in underground gas storage facilities by almost 2 billion cubic meters. As of June 1, they reached 11.46 billion cubic meters, the press service of the NJSC Naftogaz Ukrainy reported. "Ukraine continues to accumulate gas in underground gas storage facilities to go through the next heating season. The gas volumes in underground storage facilities in...

Armenia: relatively low inflation environment maintained

Inflation in Armenia comprised 1.9% as of March: in general, low inflationary environment was maintained in the country in the first quarter of 2019, President of the Central Bank of Armenia Artur Javadyan said, while introducing the annual report of the Bank's activity in the Parliament. "In the first quarter of 2019 inflation was at a relatively low level, comprising...

Kazakhstan: 65 billion tenge to be allocated for road repair in Atyrau region

65 billion tenge will be allocated additionally for the repair of motor roads in Atyrau region, according to President Kassym-Jomart Tokayev, who said it at the meeting with the population of Atyrau region. "There are more than 2,000 kilometers of roads in the region. However, half of them are in a poor condition. I commission the local administration to begin...

Azerbaijan: AZAL and Boeing negotiating timing of delivery of 737 MAX-8 aircraft

Azerbaijan Airlines CJSC (AZAL) intends to postpone the timing of delivery of Boeing 737 MAX-8 aircraft till 2024. The negotiations are underway with Boeing Corporation regarding the supply of Boeing 737 MAX-8 aircraft. According to the contract signed in 2017, the aircraft were to be supplied this year, the company said. According to the contract, AZAL has already made advance payments....

Ukraine: budget falls short of $319 million in revenue in January-May 2019

Ukraine's national budget fell short of UAH 8.545 billion, or $319 million, in revenue from January to May. In the first five months, budget revenue totaled UAH 426.684 billion, or $15.95 billion, down by 2% from the planned indicator. At the same time, budget revenue was 15%, or UAH 56.954 billion ($2.12 billion) up on the same period last year, the...

Ukraine: infrastructure minister announces increase in flights on domestic air routes

Ukrainian Infrastructure Minister Volodymyr Omelyan announced that the number of flights on domestic air routes increased. "Finally, we see an increase in flights not only on international but on domestic air routes also. Starting from today, SkyUp Airlines launches cheap regular flights Kyiv-Odesa and Kharkiv-Odesa. And starting from tomorrow, the Motor-Sich airline launches Kyiv-Uzhgorod flights three times a week," Omelyan...

Kazakhstan: tax credits to let enterprises reach profitability

At a meeting with the public in Taraz on June 3, Head of State Kassym-Jomart Tokayev said that the government was drafting new amendments to the Tax Code. "The government is now drafting a package of amendments to the Tax Code. As per these amendments, the new enterprises will be issued investment tax credits for a period of 3-5 years...

Azerbaijan: gas production to grow

Oil prices this year are expected to reach $65, Director of Fitch Ratings Sovereign Group in Europe Marina Stefani declared. She said that next year oil prices would be at $62.5. The expert also noted that gas production in Azerbaijan would grow due to the production from the second stage of Shah Deniz field's development. The contract for the development of...

Estonia: LHV to buy Danske loan portfolio

Estonian bank LHV is set to acquire Danske Bank's private customer loan portfolio, for around EUR 410 million. In February, Danske was ordered to close its doors by the Finanical Supervisory Authority (FSA), ending months of speculation following revelations that as much as EUR 200 billion in potentially illicit funds had passed through the bank over a period of several...

Ukraine: only reforms to accelerate economic growth

The economic potential of Ukraine allows achieving much better indicators of economic growth, but this potential is still constrained by insufficient reforms. Ivan Miklos, the former finance minister of Slovakia, co-chair of the Group of Strategic Advisors for Support of Reforms in Ukraine, made a relevant statement during the workshop on the economic development of Ukraine. The event was organized...