Tajikistan: parliament ratifies financial agreement for rehabilitation of Dushanbe-Qurghon Teppa highway

Deputies of Tajikistan’s lower house (Majlisi Namoyandagon) of parliament have unanimously voted for ratification of a financial agreement for rehabilitation of the Dushanbe-Qurghon Teppa highway that was signed between the government of Tajikistan and the Asian Development Bank (ADB) in November last year. A regular sitting of the Majlisi Namoyandagon, presided over by its head,…

Ukraine: key risks of banks low operation efficiency of state-owned banks and low quality of assets

The key risks of the Ukrainian banking sector are low operation efficiency of state-owned banks and low quality of their assets, according to the banking sector review published by the National Bank of Ukraine (NBU) on its website. “Largest state-owned banks require the radical change of their business models and designing long-term development strategies. The…

Ukraine: Ukroboronprom and MKEK to cooperate in creation of ammunition

The Ukroboronprom State Concern and Turkey’s MKEK (Makina ve Kimya Endustrisi Kurumu) operating in machine and chemical industry will establish cooperation under the ammunition development program, the press service of the concern reported on May 10. According to the report, the cooperation agreement between MKEK and Ukroboronprom’s Artem state-owned joint-stock company and state-run foreign trade…

Latvia: grey economy’s proportion up in 2016

Latvia’s grey economy proportion was 20.3% of GDP last year. It is 1% higher in comparison with 2015, according to results of the data from the Grey Economy in Baltic States 2009-2016 study. The most common signs of grey economy in Latvia are undeclared income (42.1%), envelope wages (40.2%) and unregistered employees (17.7%). In Lithuania,…

Ukraine: new airline to be set up

A new airline will be set up soon in Ukraine, which is expected to compete with the Ukraine International Airlines (UIA), Ukrainian Infrastructure Minister Volodymyr Omelian said. “I hope that another airline will be set up in Ukraine this year, which will become a worthy competitor to the UIA. In this case, we will regain…

Belarus: road construction companies invited to build motorway in Turkmenistan

Belarusian road construction companies have been invited to participate in building a motorway in Turkmenistan. Deputy Prime Minister of Belarus Anatoly Kalinin made the statement after the session of the Belarusian-Turkmen intergovernmental commission on economic cooperation in Minsk on May 10. Anatoly Kalinin said: “We have agreed to advance our cooperation in transportation by rail…

Turkmenistan to build highway to Kazakh border

The plans on construction of the Turkmenbashi-Garabogaz-Kazakhstan border highway with a length of 242 kilometers were revealed at the Turkmen government meeting. President of Turkmenistan Gurbanguly Berdimuhamedov ordered to study the issue of construction of this route, which would become the continuation of the Ashgabat-Turkmenbashi high-speed multimodal highway. The construction of the border highway will…

Azerbaijan: economy to grow in 2018

The European Bank for Reconstruction and Development (EBRD) has forecast a 2% growth of Azerbaijan’s economy in 2018, according to the EBRD’s updated Regional Economic Prospects report. The bank forecasts Azerbaijan’s economy to contract by 0.5% in 2017, according to the report. After a brief period of volatility in the beginning of 2017, the Azerbaijani…

Belarus: pilot container train leaves Smorgon for China

A pilot container train loaded with Belarus-made products has left the Belarusian city of Smorgon for China, the press service of Belarusian Railways reported. The train is loaded with fiberboards and laminated flooring made by the Smorgon-based company IOOO Kronospan. The project has been arranged by the Belarusian Railways enterprise Belintertrans – Transport-Logistics Center (BTLC)…

Ukraine: international reserves up in April 2017

As of May 1, Ukraine’s international reserves amounted to $17.175 million, according to preliminary data. Compared to March, they increased by $2.052 million, or by 13.57% mainly due to receipts from the International Monetary Fund and other donors of Ukraine. This was reported by the press service of the National Bank of Ukraine. “The dynamics…

Ukraine: buckwheat planting started

Agrarians of Ukraine started planting buckwheat. As of May 5, the planted areas reached 18 thousand ha, or 13% of the plan, the Ministry of Agrarian Policy and Food of Ukraine declared. Also, Ukrainian agrarians planted spring grains and pulses throughout the areas of 5.497 million ha, or 76% of the forecast, down by 343…