Foreign direct investments in Georgia totaled $351.8 million in the second quarter of 2022, up by 9.1% YoY, the National Statistics Office of Georgia reported in its latest figures on September 8. Geostat said an increase in equity, reinvestment of earnings and debt instruments had been the main reason for the growth in FDI, with…
Lithuania has sent 105-mm howitzers from its reserve to Ukraine, Defence Minister Arvydas Anusauskas has announced. “M50/M101 105 mm howitzers held in reserve of the Lithuanian Armed Forces were sent to Ukraine,” he said in a Facebook post. The minister added that Lithuania’s total military assistance to Ukraine, including the current and other planned shipments,…
MPs convened at an extraordinary session adopted in the second reading amendments to the State Budget Law for 2022. The document was voted by 53 MPs. Following the amendments, the revenues of the state budget for this year increase from 52.701 billion lei to 57.971 billion lei (+10%) and the expenses – from 72.087 billion…
The Lithuanian Energy Ministry expects its energy saving plan to help the country save 800 million euros and 20% in energy use over two years, Energy Minister Dainius Kreivys has said. Some 100 million euros should be saved by the public sector, 300 million euros by businesses and 400 million euros by households. The plan…
The Monetary Policy Council (RPP), the Polish central bank’s rate-setting body, increased the reference interest rate by 25 basis points, to 6.75% on September 7. The National Bank of Poland’s lombard rate was raised from 7.00% to 7.25%, the rediscount rate from 6.55% to 6.80% and the discount rate from 6.60% to 6.85%. At the…
Kaunas Mayor Visvaldas Matijosaitis says that selling off the Russian operations of his company is taking more time than expected. Matijosaitis is an owner of Viciunai Group, a major Lithuanian food production company. Viciunai Group’s owners and managers have been promising to sell their business in Russia ever since Moscow’s invasion of Ukraine in late…
Estonia will purchase Poland-made Piorun (Thunderbolt) air defence systems, which have been battle-tested in the Ukraine war. Man-portable Piorun surface-to-air missiles are designed to target low-flying aircraft, helicopters and unmanned aerial vehicles. Under the deal, signed by Mariusz Blaszczak, the Polish defence minister, and his Estonian counterpart Hanno Pevkur on September 7, Poland will supply…