Ukraine: deputy PM cuts growth forecast

Ukrainian Deputy Prime Minister Stepan Kubiv cut the government’s 2017 economic growth forecast to 1.8% from 3%, citing a trade blockade with separatist-held territories as one of the drivers for the revision. The new forecast is just below the central bank’s revised prediction of 1.9%. Kubiv said growth for 2018 would likely climb to 3%,…

Azerbaijan: consolidation of two banks completed

The process of consolidation of two Azerbaijani banks – AtaBank and Caspian Development Bank – has been completed, Chairman of AtaBank’s Management Board Dayanat Guliyev said on June 1. Guliyev noted that as a result of the consolidation, sufficient financial reserves were formed and the bank’s capital position had been strengthened. According to him, as…

Ukraine: exports up in Q1 2017

In January-March the exports of goods and services from Ukraine totaled $12.4 billion, up by 28% YoY, or by $2.7 billion, the Ministry of Economic Development and Trade of Ukraine reported. In particular, in the reporting period the exports of goods increased by 34.4%, or by $2.7 billion, and totaled $10.4 billion. Agricultural products and…

Tajikistan: IMF team welcomes recent efforts to unify the official and market exchange rates

An International Monetary Fund (IMF) mission, led by Paul Ross, visited Dushanbe on May 17-30 to conduct the 2017 Article IV consultation discussions. The team reportedly welcomed the authorities’ intention to resume discussions on a possible IMF program, and discussed steps that would demonstrate reform progress and pave the way to resume program negotiations. At…

Azerbaijan: AIIB ready to co-operate with private sector

The Asian Infrastructure Investment Bank (AIIB) will cooperate with the private sector in Azerbaijan, whenever possible, to invest in infrastructure projects which meet the bank’s mandate, strategy and standard, a source in AIIB reported. The source added that mobilizing private capital was one of AIIB’s priority. “AIIB is interested in financing infrastructure investment projects in…

Latvia: April 2017 retail trade turnover up

Compared to April 2016, total retail trade turnover rose by 2.8% in April 2017. Turnover of retail trade in food products increased by 1.7% and turnover of retail trade in non-food products grew by 4%. The most significant growth in turnover in the non-food product group was recorded in retail sale of information and communication…

Azerbaijan: inflation to drop to single digits

The Central Bank of Azerbaijan (CBA) believes attainment of a single-digit rate of inflation by late 2017 is feasible, CBA head Elman Rustamov said on May 30. “The forecasts of international organizations, including the International Monetary Fund and the World Bank, for the rate of change of consumer prices in Azerbaijan are positive,” he said.…

Ukraine: DTEK Prydniprovska and DTEK Kryvorizka TPPs re-launch power units to shape up for summer peaks

DTEK Prydniprovska Thermal Power Plant re-connected one of its power units to the grid. DTEK Kryvorizka TPP reactivated its powers units earlier. Thus, the thermal power plants have confirmed their readiness to ensure stable operation of Ukraine’s energy system during summer peaks. This is the first unit reactivation since April when DTEK Prydniprovska and Kryvorizka…

Ukraine: average salary down in April 2017

In April the average salary of a full-time employee across Ukraine totaled UAH 6,659, down by 1.4% MoM and up by 36% YoY, according to the State Statistics Service of Ukraine. The average salary in April exceeded the minimum wage of UAH 3,200, 2.1-fold. According to the State Statistics Service, the actual salary decreased by…