Uncertainty over macroeconomic trends is high amid the Russia-Ukraine war, but Georgia’s financial system is ready to withstand stress, the National Bank of Georgia has said. “The banking sector remains resilient even in the face of severe and extreme risk scenarios. Despite the possible losses, the existing capital buffers allow for their absorption,” the NBG…
In April, the total production of industrial enterprises increased by 3.8% at constant prices compared to April 2021, data from Statistics Estonia showed. The biggest fall was in the mining sector. Output increased in two of the three industrial sectors: by 3.7% in manufacturing and by 9.6% in electricity production. In mining, output fell by…
Minister of Energy of Ukraine Herman Galushchenko and Minister of Climate and Environment of Poland Anna Moskwa signed a Memorandum of Intent on cooperation in the field of energy. The document was agreed to boost energy security in Central and Eastern Europe and to drop Russian energy supplies. The memorandum states the intention to restore…
Ukrainian Foreign Minister Dmytro Kuleba has called on Australia to provide more weapons to Ukraine and proposed including the country in the Australian System of Tariff Preferences. Kuleba held talks with Australian Foreign Minister Penny Wong, thanked her for military and humanitarian aid to Ukraine and called on Australia to provide more heavy weapons to…
Poland’s Purchasing Managers’ Index (PMI) fell to 48.5 points in May from 52.0 points in April, economic researcher S&P Global reported on June 1. Economists polled by PAP predicted the PMI would reach 52.0 points in May. According to S&P Global, the reasons for the decline included the war in Ukraine and inflationary pressures. The…
Representatives of Lithuania and Turkey signed an agreement in Ankara on June 1, paving the way for Vilnius to acquire Bayraktar combat drones. The country will buy the unmanned aerial vehicle and other equipment with money raised by ordinary Lithuanians and then hand it over to Ukraine, which is fighting a Russian invasion. The fundraising…
Poland is ready to develop its infrastructure to transport Ukrainian grain blocked by Russia to the Middle East and Africa, Mateusz Morawiecki prime minister of Poland said on May 31. “I have told our friends in the EU that Poland is ready to change and expand its border, transport, railway and port infrastructures in a…