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Lithuania: Seimas rejects proposal to cut VAT to 18%

The value added tax will remain 21% in Lithuania after the country's parliament on May 9 rejected the liberals' initiative to cut it to 18% from 2020, a level that was before the 2009 crisis. 22 lawmakers voted in favor of the parliament starting deliberation of the proposed amendments to the Law on Value Added Tax, 18 were against and...

Latvia: Port of Riga to welcome 85 cruise ships in 2019

At the end of April the Port of Riga opened the 2019 cruise season when the 300-meter cruise ship MSC Poesia entered the port. MSC Poesia is owned by the cruise line MSC and brought more than 2,500 tourists to Riga during its Baltic cruise. The 10-day cruise started in Warnemunde, Germany, and had already had stops in Poland...

Kyrgyzstan: international reserves down in April 2019

In April, the gross international reserves of Kyrgyzstan decreased by $17.06 million, the National Bank reported. Gross international reserves of the republic amount to $2,180.09 billion. Compared with April 2018, they reduced by $12,890 million. Over the past two years, the highest level of the reserves was recorded in January 2018 - $2,220.44 billion. The National Bank uses the reserves to smooth...

Ukraine: vehicle production down in April 2019

Ukrainian plants manufactured 1,880 motor vehicles in January-April, down by 31.4% YoY, according to the Ukrainian Motor Vehicle Manufacturers Association, UkrAutoProm. In particular, over the first four months, Ukrainian plants produced 1,587 cars (-33.4%), 15 commercial vehicles (-85.1%), and 278 buses (+9%). According to preliminary data provided by the association, 139 vehicles were manufactured in Ukraine in April, down by 80%...

Ukraine: milk and dairy products to be exported to Bosnia and Herzegovina

Ukraine's State Food Safety and Consumer Protection Service and the relevant authority of Bosnia and Herzegovina have agreed on issuing a veterinary certificate for shipments of milk and dairy products from Ukraine. The country's regulator has approved veterinary certificates for shipments of milk and dairy products from Ukraine to Bosnia and Herzegovina, the Ukrainian agency's press service said in a...

Estonia: exports and imports up in March 2019

According to information released by Statistics Estonia, the export of goods increased by 8% and imports by 5% YoY in March. This trade growth is attributable to increased exports and imports alike with other EU countries. This March, exports from Estonia amounted to EUR 1.2 billion and imports to EUR 1.4 billion at current prices. The trade deficit stood at...

Georgia: new cultural and scientific research center to be built on Makhata hill

A new, modern scientific research and cultural enlightening center-museum will be opened in the vicinity of the Iveria Holy Virgin Mary Church on the Makhata hill in Tbilisi. This will be the place with a mandate to carry out research and studies in full compliance with priorities declared by the Government of Georgia and the national idea of education, Prime...

Latvia: inflation at 3.2-3.4% predicted for April 2019

Compared to March, consumer prices in April possibly grew by 0.6-0.8%, which means annual inflation in Latvia has reached approximately 3.2-3.4%, bank analysts predict. Swedbank's acting chief economist in Latvia Agnese Buceniece notes that in April, when compared to March, consumer prices increased by 0.6%, whereas annual inflation was approximately 3.2% when compared to April 2018. "The main factor that had...

Ukraine: Finance Ministry to present three-year budget declaration

The Finance Ministry will submit the Budget Declaration for 2020-2022 to the Cabinet of Ministers for approval this week, Finance Minister Oksana Markarova stated during a business forum of the European Bank for Reconstruction and Development (EBRD), the ministry's press service wrote on its Facebook page. "The Finance Ministry will continue to work on active implementation of medium-term budget planning,...

Ukraine: Kyiv margarine plant to increase investments in 2019

Olkom Group's PJSC Kyiv Margarine Plant invested more than UAH 4 million in upgrading technologies and acquiring new equipment in Q1. Owing to investment, the plant has doubled its capacity for production of edible fats and industrial margarines. In addition, up-to-date equipment was installed there for identifying fatty acid trans-isomers (a gas chromatograph) and evaluating quality of fats. The company is...