On December 1, the Organization for Economic Cooperation and Development (OECD) published an outlook for Latvia’s GDP decline, reducing it to 4.3%. In its June outlook OECD expected Latvia’s economic decline to be at 8.1%. Economic growth outlook for 2021 is reduced from 6.3% to 2.4%. In 2022, OECD expects Latvia’s economy to grow by…
The Latvian airline AirBaltic is resuming flights between Vilnius and Kyiv. The direct service between the Lithuanian and Ukrainian capitals will operate twice a week. It is also planning to resume flights from Vilnius to London, Paris and Oslo this month. Lietuvos Oro Uostai (Lithuanian Airports), the operator of Lithuania’s three international airports, said last…
According to Statistics Estonia, the production of industrial enterprises in October increased by 1% YoY, marking the first increase of the indicator since the coronavirus pandemic kicked off in spring. Industry is the largest sector of the economy and an important driver of economic growth. The index of industrial production covers the economic indicators of…
In January-October, Ukraine’s construction output grew by 1.9% YoY, according to the data provided by the State Statistics Service of Ukraine. Ukraine’s total volume of construction products reached UAH 140.9 billion. Of this amount, new construction accounted for 37.6%, repairs (major and maintenance) totaled 34.8%, reconstruction and technical re-equipment – 27.6%. In particular, residential buildings…
The average electricity price in Ukraine in the second quarter was higher than in European Union member states. That is according to the European Commission’s Quarterly Report on European Electricity Markets. It particular, over the period under review, the highest electricity rates in Europe were registered in the Burshtynska Energy Island – the area of…
Riga City Council’s budget for 2021 may be EUR 17.2 million short. The reduction may be even larger, said chairman of Riga City Council Martins Stakis has declared. Stakis said work on the municipality’s budget for 2021 continued, but it was already clear what the level of consolidation would be and which departments of Riga…
According to Statistics Estonia, in October, the turnover of retail trade enterprises was EUR 665 million. Compared to October 2019, turnover increased by 6% at constant prices. Jaanika Tiigiste, leading analyst at Statistics Estonia, said turnover increased in enterprises engaged in the retail sale of automotive fuel as well as in grocery stores and in…