Total industrial enterprises’ production fell by 5% in 2020, compared with the previous year, state agency Statistics Estonia reported. Production decreased in all three main industrial sectors: by 19% in energy production, by 13% in mining and by 4% in manufacturing. Statistics Estonia analyst Helle Bunder said that manufacturing production also fell in 2020, by…
“Risks of economic downfall remain high, given the increase in the number of new cases of the virus abroad and uncertainty about the timing of vaccination,” Aigul Berdigulova, a Senior Analyst at the Eurasian Development Bank (EDB), has declared. According to her, worsening dynamics in the industry and construction sector led to acceleration of the…
In 2020, Odesa International Airport provided air services to almost 700 thousand passengers, down by 58% YoY, the airport’s press service reported. “9,332 flights were serviced,” reads the report. The airport management explained that passenger traffic decreased sharply due to the introduction of quarantine measures in Ukraine to combat the spread of the COVID-19 pandemic.…
In 2020, the volume of loans provided by JSB Ukrgasbank to small and medium-sized businesses rose by 50% (or UAH 2.5 billion) and amounted to UAH 7.7 billion, the bank’s press service reported. “Last year, Ukrgasbank paid special attention to lending to small and medium-sized businesses, which suffered the most from the pandemic and quarantine…
Compared to Q4 2019, gross domestic product (GDP) decreased by 1.4%, according to seasonally and calendar non-adjusted data in Q4 2020. According to provisional estimations, the GDP was affected by output rise in producing sectors of 3.7%. In services sectors there was a drop of 3.2%, according to the flash estimate from the Central Statistical…
Swedbank Estonia finished 2020 with a net profit of EUR 178.7 million, down by 9.8% YoY. The reduction in earnings was mainly attributable to increased costs and funds to cover credit impairments, the bank said on February 1. Lending volumes increased by 3%, household lending by 4%, corporate lending by 2% and deposits by 17%.…
The Export-Import Bank of Korea has signed a $160-million loan agreement with Uzbekistan’s Ministry of finance. Funds are expected to be channeled through the Economic Development Cooperation Fund Program of the Korean government. Some $120 million of the amount will be used to build Tashkent General Hospital, with the remaining part to be spent on…