The estimated real gross domestic product (GDP) growth rate in August amounted to 10.3% YoY and 12% in January-August, preliminary data from the National Statistics Office of Georgia (Geostat) showed. Last month the following industries of the economy posted growth compared to the same period of the previous year: manufacturing, financial and insurance activities, trade,…
The European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC) plan to acquire up to 20% each in TBC Bank Uzbekistan (TBC UZ), a subsidiary of TBC Bank Group. The investments are aimed at strengthening digital finance in Uzbekistan and, thereby, increasing financial inclusion in the country. The first installment is…
Georgian and Azerbaijani Prime Ministers Irakli Garibashvili and Ali Asadov have pledged to deepen their countries’ economic ties at the inter-governmental economic commission session held in Baku. PM Garibashvili said Azerbaijan was not only a friend and a neighbour of Georgia, but one of the main strategic partners as well. “It is a great honour…
Books and printed press will be applied with value added tax (VAT) of 5% from now on, as decided by Latvia’s government. VAT for books published in physical and digital form will reduce from 12% to 5%. This also applies to newspapers and other printed press that are released in physical and digital form. Reduction…
The sales revenue of retail trade enterprises increased by 9% in August, to EUR 762 million. The sales revenue of manufactured goods grew the most, by 17%. Jaanika Tiigiste, leading analyst at Statistics Estonia, said that turnover increased in grocery stores and in stores selling manufactured goods as well as in enterprises engaged in the…
Amid a surge in heating and electricity costs, the Lithuanian government has moved to cap the prices for consumers starting in January next year, spreading out the increase over five years. “To contain the price shock, we plan to cut off the peak of the price hike to spread it over the next five years.…
With the assistance of the Ministry for Foreign Affairs of Ukraine, 137 Ukrainian companies have managed to enter foreign markets over the past year and a half, Minister for Foreign Affairs Dmytro Kuleba has said. “Over the past year and a half of the government’s work, 137 Ukrainian companies have started working in foreign markets…