Income inequality and the huge value-added tax (VAT) gap are the major problems in Lithuania, Munawer Khwaja, a World Bank tax expert, has said. “Income inequality is one of the highest in Lithuania. Another big problem is the VAT gap, which is the third highest among the EU countries. Only Italy and Greece have a…
The international reserves of Ukraine increased by 5.5%, amounting to $25.24 billion as of November 1, according to preliminary estimates of the National Bank. “As of November 1, Ukraine’s international reserves amounted to $25,244.2 million, according to tentative data. They increased by 5.5% thanks to stable inflows from international partners and a decrease in the…
External power has been restored to Ukraine’s Zaporizhzhia Nuclear Power Plant (ZNPP) two days after it lost all access to off-site electricity due to Russia’s shelling, the International Atomic Energy Agency (IAEA) reports. On November 4, at around 22:00, the 750 kV power supply to all six units of the ZNPP had been re-established, and…
Georgian authorities and the International Monetary Fund have reached a staff-level agreement on policies for completion of the first review of the stand-by arrangement following “productive discussions” between the parties, which will allow the organisation to allocate $38 million for the country, the IMF announced on November 7. The fund’s mission visited Georgia on October…
Border guards at the Kybartai checkpoint have blocked five freight wagons with Russian military symbols from entering Lithuania. The State Border Guard Service (VSAT) reported on November 4 that the border guards ordered to disconnect a total of five freight wagons from two Russian trains and to return them to the Kaliningrad region before the…
The construction of the 600 MW back-to-back Vulcanesti station is no longer technically and economically justified, concludes a study by the World Bank, presented at a round table at the Ministry of Infrastructure and Regional Development (MIDR). The study evaluates the technical and economic feasibility of the investment in the construction of the back-to-back (BtB)…
Lithuania opened its trade representative office in Taiwan on November 7, the Economy and Innovation Ministry announced. “Today, we welcome the first achievements of Lithuania’s economic cooperation with Taiwan. I have no doubt that with the opening of Lithuania’s trade representative office in Taipei, our work with this promising market will intensify,” Economy Minister Ausrine…