The head of the National Bank of Poland (NBP) has said a recent cycle of interest-rate hikes is merely on hold rather than formally at an end. The NBP has increased interest rates 11 times in recent months to help combat an inflation rate that hit 17.2% in September. “It is a halt in the…
In more than two months of the operation of the “grain corridor”, 6.2 million tons of agricultural products have been sent through the seaports of Ukraine, accounting for 48% of the total agricultural exports. “Before Russia invaded Ukraine, 80-90% of all agricultural exports were delivered through seaports. When they were blocked, we had to redistribute…
Ukraine and North Macedonia have updated the annex to the Free Trade Agreement. The signing ceremony took place in the presence of the Prime Minister of Ukraine Denys Shmyhal and the Prime Minister of North Macedonia Dimitar Kovacevski during a meeting of the heads of government in the Czech Republic on October 6. According to…
Georgian economy minister Levan Davitashvili on October 6 said Georgia was expected to have a higher economic growth this year compared to estimations made by international financial institutions at the start of the crisis stemming from the war in Ukraine. Addressing the parliament, the official stressed the increase was expected based on the main trends…
Polish retail sales went up by 8% YoY in August after a 7.6% increase in July, Eurostat, the EU’s statistics agency, reported on October 6. Month on month, retail sales went up by 0.7%, the agency also said. Retail sales in the euro zone fell by 2% in August after a 1.2% decline a month…
Lithuania will emerge from the crisis of recent years “stronger and more resilient” than before, Economy and Innovation Minister Ausrine Armonaite told several hundred foreign investors on October 6. “The last two years have been challenging and I can’t promise that 2023 will be easier, but what I’m absolutely sure of is that we will…
The Monetary Policy Council (RPP), the Polish central bank’s rate-setting body, unexpectedly broke its rate-hiking cycle despite rising inflation and kept the reference interest rate at 6.75% on October 5. The National Bank of Poland’s lombard rate remained at 7.25%, the rediscount rate at 6.80% and the discount rate at 6.85%. The RPP also left…