Azerbaijan should continue the restructuring of the banking sector, Jihad Azour, director of the Middle East and Central Asia Department at the International Monetary Fund (IMF), declared. The country’s economic recovery depends on this, according to him. “We discussed the issue of restructuring of the International Bank of Azerbaijan (IBA) and the banking sector as…Details
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The public sector accounted for 11.1% of Ukraine’s economy in 2016, while in the first quarter of 2017 (Q1 2017) its share was at 16.3%, according to the website of the Ministry of Economic Development and Trade. In terms of economic activities, the state share in agriculture, forestry, and fisheries was at 4% in 2016…Details
The public joint-stock company Ukrzaliznytsia could see over UAH 11 billion of loss from passenger transportation by rail in 2017, Ukrzaliznytsia Chief Financial Officer Andriy Riazantsev said at the presentation of the company’s development strategy. “It is likely that this year we would pass the UAH 11 billion threshold of loss from passenger transportation. These…Details
The Estonian government at the September 12 Cabinet meeting began 2018 budget negotiations. For the first time in Estonian history, the state budget will exceed the EUR 10 billion mark, meaning an increase of at least 3.6%. During budget negotiations at the Cabinet meeting, members of the government received an overview of the fresh economic…Details
After the introduction of the tax reform, tax accounting will become more complex. And this is not because it will take several years for businesses, private persons and tax inspectors to get used to the system. The new laws in general are not meant to make things simpler, says Latvian Tax Consultant Association board member…Details
Belarus’ key lending rate was reduced to 11.5% per annum on September 13. The interest rate on standing and bilateral operations designed to keep up the current liquidity of Belarusian banks was reduced from 14% to 13% per annum. It is the seventh time Belarus’ central bank has reduced its refinancing rate this year. The…Details
Within the framework of the Tugan zher program a new open-air track and field stadium was officially opened in Alatau district of Almaty. The 300-seats stadium is conveniently located behind the Almaty Arena ice palace. Speaking at the opening ceremony akim of Almaty Bauyrzhan Baibek thanked the investors, Alonso company and Unicom Business Group for…Details