Ukraine: state debt up in April 2017

Ukraine’s total state direct and government-guaranteed debt in April grew by 2.7%, or by UAH 21.12 billion ($1.95 billion), to UAH 1.973 trillion ($74.31 billion), Ukraine’s Finance Ministry reported on its website. Since the beginning of the year the total state (direct) and government-guaranteed debt in dollar terms has increased by 4.7%. According to the…

Latvia: industrial production output up in April 2017

Compared to April 2016, industrial production output increased by 9.6% in April 2017. Industrial production output in manufacturing grew by 6.2%, in mining and quarrying by 20.7%, and in electricity and gas supply by 18.8%. Increase in manufacturing was significantly affected by the rise in manufacture of electrical equipment (by 31.9%), manufacture of computer, electronic…

Turkmenistan: GDP up in 2017

Turkmenistan’s GDP growth rate was 6.3% in January-May, Bashim Khojamamedov, deputy prime minister for economy and finances, said at a government meeting on June 3. The growth rate was 2.9% in industrial sector, 4.1% in construction, 10.8% in transportation and communication sector, 9.5% in trade, 3.6% in agriculture, and 10.2% in the sphere of services,…

Kazakhstan: New Uralsk – Frankfurt flight to be launched in June 2017

Kazakhstan’s flag carrier Air Astana has announced the launch of a new route between Uralsk and Frankfurt starting from June 14.

Flights will be operated once a week on comfortable Airbus-320.

Local authorities instructed local border service to improve the quality of service at the international terminal of Uralsk airport. (Kazinform/Business World Magazine)

Tajikistan: Communications Service building design wins 5-star Asia Pacific Property Award

Tajikistan’s Communications Service building design has won the five-star Asia Pacific Property Award 2017 for the Best Commercial High-rise Architecture. The building design has been worked out by the design office of Tajik Architects’ Union. The design authors are chief architect Bahrom Yusupov and architects K. Naimov, R. Sharipov and H. Ayubjonov. Yusupov says the…

Ukraine: deputy PM cuts growth forecast

Ukrainian Deputy Prime Minister Stepan Kubiv cut the government’s 2017 economic growth forecast to 1.8% from 3%, citing a trade blockade with separatist-held territories as one of the drivers for the revision. The new forecast is just below the central bank’s revised prediction of 1.9%. Kubiv said growth for 2018 would likely climb to 3%,…

Azerbaijan: consolidation of two banks completed

The process of consolidation of two Azerbaijani banks – AtaBank and Caspian Development Bank – has been completed, Chairman of AtaBank’s Management Board Dayanat Guliyev said on June 1. Guliyev noted that as a result of the consolidation, sufficient financial reserves were formed and the bank’s capital position had been strengthened. According to him, as…