The European Bank for Reconstruction and Development (EBRD) climate resilience project proposal for the modernization of a hydropower plant in Tajikistan was approved for co-financing by the Green Climate Fund (GCF) on April 6. According to the EBRD News Center, the EBRD and other co-lenders are providing $158 million for the climate-resilient upgrade of Qairoqqum…
DetailsUkraine in January-March exported electricity for $68.12 million, including $19.355 million in March alone. According to the State Fiscal Service, electricity delivered to Hungary amounted to $55.218 million in January-March, to Poland to $11.101 million, Romania to $1.286 and other countries – $516,000. Thus, in money terms exports of Ukrainian electricity in January-March grew by…
DetailsAccording to the Swedbank Economic Outlook released on April 6, the bank has left the 2017 GDP growth forecast for Estonia at 2.2%, while unemployment is expected to increase to 7.6% this year. According to the bank’s forecast, Estonia’s GDP is expected to grow by 2.2% this year and by 2.8% next year. Household consumption…
DetailsMarch was the most successful month for terminals working at Ventspils Freeport – a total of 2.6 million tons of cargoes were transshipped, which is 21% more when compared with March 2016, as reported by Ventspils Freeport authority. In total, terminals of Ventspils Freeport had transshipped 7.1 million tons of cargoes in the first three…
DetailsThe number of bank branches in Ukraine in the first quarter of 2017 decreased by 305 units, the press service of the National Bank of Ukraine (NBU) reports. As of January 1, the number of structural branches of banks in Ukraine totaled 10,316, and as of April 1, the number decreased to 10,011. In particular,…
DetailsDebt of solvent banks to the National Bank of Ukraine (NBU) for refinancing loans totals UAH 15.2 billion, and this is UAH 7.7 billion less than earlier this year, the central bank has reported on its website. The NBU said that on April 4, Oschadbank (Kyiv) earlier repaid its debt, returning UAH 2 billion. A…
DetailsPrime Minister of Ukraine Volodymyr Groysman says that the Cabinet of Ministers is trying to promote the creation of private small farms, which will ensure economic growth and will stimulate the development of Ukraine. “We want to offer the following: to lift a land moratorium so that only Ukrainian citizens can buy and sell agriculture…
DetailsCompared with December 2016, prices of most food products in Latvia increased in March. Prices declined only for imported strawberries, oranges and smoked ham in the first quarter of 2017, according to information from the Agricultural Market Promotion Center. The biggest price increase was noted for imported cucumbers (91%) – from 2.08 EUR/kg to 3.98…
DetailsThe Ministry of Finance plans to develop the country’s equity in order to stabilize the ratio between Tajikistan’s external debt and its gross domestic product (GDP). “Growth rate of the economy of Tajikistan and stability of its financial system essentially depend on external factors. Jumps in “mood” of the global financial system, instable economic situation…
DetailsPresident of Turkmenistan Gurbanguly Berdimuhamedov has given instructions at a meeting of the Cabinet of Ministers to ensure the stability of the financial system, investment activity in the country, as well as the stability and purchasing power of the national currency – the Turkmen manat. “Export volumes and reserve monetary funds should be increased,” the…
DetailsRetail trade networks plan to adopt an honest reduced VAT rate for fresh vegetables, fruit and berries, as agreed upon by Agriculture Ministry, Latvian Traders Association and Latvian Federation of Food Enterprises. The ministry plans to submit a report to the government on the reduction of VAT to 5% on fresh vegetables, fruit and berries,…
DetailsThe term of Tajik Transport Ministry’s ultimatum to the Russian aviation authorities is expiring today. An official source at the Ministry of Transport of Tajikistan says the Russian aviation authorities have invited their Tajik counterparts to Moscow for negotiations over the air travel problems. “Tajik delegation left for Moscow today,” the source noted. When asked…
DetailsTajikistan needs urgent reforms to revive its banking and financial sectors, said Asian Development Bank (ADB). Tajikistan’s economic growth is forecast to moderate in 2017, reflecting losses in the banking sector and weak remittances, ADB said in its report. The Asian Development Outlook 2017 (ADO) forecasts growth in Tajikistan to come in at 4.8% in…
DetailsDuring the Cabinet meeting on April 5, the Estonian government endorsed changes to the State Budget Act, according to which drawing up budgets with a temporary structural deficit of 0.5% of GDP annually would be allowed in the future. According to the new rules, the structural balance of the state budget would be tracked as…
DetailsThe turnover of Orkla Foods Latvia reached EUR 29.9 million in 2016. 78% of the company’s turnover consisted of sales in Latvia and 22% of sales in export markets, the company reports. Last year, Orkla Foods Lativa invested EUR 1 million in production. The company also paid EUR 5.3 million in taxes in 2016. “In…
DetailsSEB Bank and Altum have signed authorization agreement for the issue of guarantees. This will help the bank speed up the processing of loan requests from small and medium-sized companies. SEB is the first commercial bank with which Altum has signed such an agreement. Financial guarantees are provided to companies that require additional security to…
DetailsIn Belarus agrarians planted early grains and pulses throughout the areas of 340.1 thousand ha, or 36.3% of the forecast, the Ministry of Agriculture and Food reported on April 4. It is noted that agrarians of all regions have already started the fieldworks. In particular, Gomel region planted early crops throughout 79.9%, Brest region –…
DetailsThe Food and Agriculture Organization of the United Nations (FAO) has decided to update its list of potential local and regional suppliers of agricultural goods and equipment. According to a press release of FAO, it is planned to create the register of suppliers of certified seeds, including potatoes, other vegetable, garlic, grama grasses, materials for…
DetailsState-run Oschadbank (Kyiv) has paid refinancing loans received from the National Bank of Ukraine (NBU) in full: on April 4, the bank paid the remaining UAH 2 billion. According to a press release of Oschadbank, from November 2008 through June 2014 the bank raised refinancing loans for UAH 19.9 billion from the NBU. The funds…
DetailsRevenue of Ukraine’s national budget in January-March reached UAH 174.74 billion. This is 10.6% or UAH 16.7 billion more than the target, Ukraine’s State Treasury Service has reported. Revenue grew by UAH 45.58 billion or by 35.3% YoY. In March alone the budget saw UAH 62.69 billion of revenue. This is 13.3% or UAH 7.37…
DetailsThe natural gas price for the population of Kyrgyzstan in April is 14.37 soms per cubic meter, for industrial enterprises, commercial structures and budget organizations, including VAT and sales tax – 17.62 soms for a cubic meter. As the press service of Gazprom Kyrgyzstan LLC reported, gas price fell by 10 tyiyn compared to March.…
DetailsThe reconstruction of Bishkek-Kara-Balta road will begin on April 15, press service of the Ministry of Transport and Roads of Kyrgyzstan said. According to it, on April 4, the ministry issued an order to start the work by the contracting company China Railway No. 5 on the construction of the site from the 15th to…
DetailsIn 2016 the prime cost of electricity in Kyrgyzstan amounted to 1.62 soms for kilowatt-hour, Taalaybek Nurbashev, director of the State Agency for Regulation of Fuel and Energy Complex, said at a meeting of the parliamentary Committee for Fuel, Energy Complex and Subsoil Use. According to him, for the past three years, the highest prime…
DetailsCurrency reserves of the Central Bank of Azerbaijan (CBA) increased by almost $367 million YoY (9%) in March, and amounted to $4,432.7 billion, according to the statistical data posted on the CBA website on April 4. CBA’s reserves increased by $63.4 million MoM (1.45%) in March. Currency reserves of the CBA decreased by more than…
DetailsUkrainian flour exports hit a 20-year high of over 340 KMT in the 2015/2016 season. As expected, the upward trend in flour supplies from the country continued into MY 2016/2017. Global trends also contribute to growth of flour exports. The world’s demand for flour has increased by 15-20% over the last 4-5 years. Noteworthy is…
DetailsThe Parliament Committee on Fuel, Energy Complex and Subsoil Use approved a loan of $31 million for the reconstruction and modernization of the heating networks of Bishkekteploset JSC. As the deputy chairman of the State Committee of Industry, Energy and Subsoil Use, Kuban Myrzakanov noted, 75% of the heating pipes had served a regulatory lifetime.…
DetailsThe international rating agency StandaS&P Global Ratings has affirmed its ‘D/D’ long- and short-term issuer credit ratings on Kazakhstan-based Delta Bank, the rating agency said in a message. At the same time, the agency affirmed the ‘D’ Kazakhstan national scale rating. S&P also affirmed its ‘D’ issue-level ratings on its senior unsecured bonds. “The affirmation…
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