INVL, a major Baltic investment fund, forecasts that Lithuania’s average annual inflation will reach 4% this year before decelerating slightly to 3.8% next year, Indre Genyte-Pikciene, the company’s chief economist, has announced. This is an upward revision from INVL’s previous estimates of 2.7% and 3.5%, respectively, last spring. The average unemployment rate is expected to…
Fitch Ratings has affirmed Uzbekistan’s long-term foreign-currency Issuer Default Rating (IDR) at BB- with a stable outlook. Fitch said it was expecting the Uzbek economy to expand by 6.2% in 2021 adding that the growth would maintain strong momentum, averaging 5.7% in 2022-2023 supported by a gradual pace of fiscal consolidation, strong investment, continued access…
Georgia exported 65 million bottles of wine to 59 countries in January-September, up by 12% YoY, the Georgian National Wine Agency reported. By selling wine abroad Georgia generated $168 million. Revenues increased by 11%. The top five countries that imported Georgian wine in January-September were: Russia – 43,350,901 bottles (+7%), Ukraine – 8,609,575 bottles (+8%),…
Although prices have increased in the fastest rate of the last 12 years, the inflation is set to slow down next year, the Bank of Estonia assesses. “Our estimates show that price increases will remain between 3% and 4% next year,” the central bank’s economic research department head Martti Randveer said. Data from Statistics Estonia…
The 30% growth of Ukraine-Georgia trade turnover over January-June testifies to friendly relations. “The trade turnover between Ukraine and Georgia grew by almost 30% over the first half of 2021, clearly testifying to friendly relations between our countries,” Prime Minister of Ukraine Denys Shmyhal posted on Twitter. He also expressed gratitude to Georgian Parliament Speaker…
The World Bank left the forecast for Ukraine’s GDP growth in 2021 at 3.8% but improved it for the next two years. This is stated in the World Bank’s report “Competition and Firm Recovery Post-Covid-19. Europe and Central Asia Economic Update. Fall 2021”. According to the organization’s forecasts, Ukraine’s GDP will grow by 3.5% in…
Lithuania: Belarusian electricity no longer arriving Electricity produced at Belarus’ Astravyets nuclear power plant is no longer entering the Lithuanian market, Energy Minister Dainius Kreivys said on October 7. “I am 110% sure of this,” the minister said at the Seimas Energy and Sustainable Development Commission’s meeting. Lithuanian officials maintain that the Astravyets NPP, built…