Ukraine: shadow economy down in H1 2018

The share of Ukraine’s shadow economy totaled 32% of GDP in the first half of 2018, down by 3% YoY, the press service of the Economic Development Ministry reports. According to the ministry, the shadow economy in Ukraine declined due to maintaining macroeconomic stability, creating favorable conditions for doing business in Ukraine and preserving the…

Georgia: economic performance strong

Georgia’s economic performance remains strong, but downside risks to the outlook have increased, reads the third review of the International Monetary Fund (IMF) of Georgia’s performance under the 3-year Extended Fund Facility (EFF). The executive board of the IMF completed the third review on December 19. The completion of the review will release about $41.6…

Ukraine: NBU decides to liquidate VTB Bank

The National Bank of Ukraine on December 18 made a decision to terminate the banking license of Kyiv’s VTB Bank, a subsidiary of the eponymous Russian lender, the press service of the Individuals’ Deposit Guarantee Fund reported. “The Deposit Guarantee Fund made the corresponding decision based on the National Bank decision on December 18 on…

Ukraine: new guided projectile Kvitnyk ready for testing

Ukraine’s state-run defense concern UkrOboronProm says a new 152 mm high precision-guided artillery projectile Kvitnyk is ready to undergo scheduled testing. All components of the new ammunition are 100% Ukraine-made, the arms manufacturer boasts. “The state-owned Progres Research and Production Complex, which is a part of UkrOboronProm, has completed the works on total import substitution…

Kyrgyzstan: gas supply to some Bishkek districts to be suspended for 10 days

Gas supply to some districts of Bishkek will be suspended, the Public Relations and Media Service of Gazprom Kyrgyzstan company reported. In connection with emergency restoration work on December 17-21, supply of gas will be suspended in the following areas: – in Krasniy Stroitel, Keramicheskiy, Kaindy housing estates; – in Nizhnyaya Ala-Archa village (Andijan, Logvinenko,…