The Asian Development Bank (ADB) expects that Azerbaijan’s GDP growth will be 1% in 2018, according to the “Asian Development Outlook 2017 Update: Sustaining Development Through Public-Private Partnership”. Azerbaijan’s GDP growth rate decreased by 3.8% in 2016. The ADB expects that the recession will continue in 2017, but its pace will slow down. Thus, according…
DetailsEconomy of Turkmenistan should be based on market relations, the country’s President Gurbanguly Berdimuhamedov said at a government meeting. The draft state budget for 2018 was on the agenda of the meeting. The Turkmen president noted that during the draft state budget’s preparation, special attention should be paid to increasing the volume of loan funds…
DetailsThe Estonian government at an extraordinary meeting on September 27 approved the 2018 state budget bill, which set out the first ever Estonian state budget to exceed EUR 10 billion. This marks the first full-length budget of the coalition government that took office in November 2016. The activities financed from the budget support the four…
DetailsPrices of bread made of rye and wheat in Ukraine rose by 20.9% YoY in September, according to a member of the Economic Discussion Club Oleh Pendzin. “Prices of first-grade flour increased by 12% from September 2016 to September 2017, those of rye flour climbed by 4.5%, while the price of bread made from first-grade…
DetailsTurkmenistan has proposed to host a summit of the International Fund for Saving the Aral Sea (IFAS) founding state heads in 2018. Ashgabat’s Permanent Representative to the UN Aksoltan Atayeva, addressing a general political discussion at the 72nd session of the UN General Assembly, called on the international community to more actively address environmental issues,…
DetailsThe funds in the amount of $1.32 billion from placing sovereign eurobonds due in 2032 for $3 billion were sent to the account of the State Treasury Service of Ukraine, the Finance Ministry has reported on its website. The ministry said that the deal to purchase eurobonds due in 2019 and 2020 for $1.68 billion…
DetailsAccording to the USDA estimates, the global crop of barley will be below its global consumption for a second season in a row. This trend will lead to a substantial decrease in barley stocks in the world. Global barley inventories are expected to shrink to a 34-year low of 18.6 MMT by the end of…
DetailsTajikistan’s draft state budget for 2018 was coordinated with the profile departments and submitted for consideration to the Standing Committee on Budget under the government of Tajikistan. After being studied and approved by the government, the draft state budget will be sent to the lower house of parliament for approval. The revenue part of the…
DetailsAccording to the Statistics Committee of Kazakhstan’s Economy Ministry, vegoil production in the country reached a record 349.1 KMT in the 2016-2017 season, up by 17% YoY. 29.2 KMT of vegoil was produced in Kazakhstan in August, up by 24% YoY and by 3% MoM. Output of sunseed, linseed and soybean oils closed the season…
DetailsOrganizations representing haulers in Estonia have issued a joint statement to two standing committees of the Riigikogu urging them to discuss the situation of the road haulage sector, as the country has lost an estimated EUR 50 million in tax revenue due to higher fuel duties this year. As a result of decisions made by…
DetailsPrices of tickets for flights of the Latvian national airBaltic airline may decline somewhat next year, says airBaltic CEO Martin Gauss. He explains that this year’s prices have declined somewhat, and he predicts this tendency may continue next year as well, but only if positions of different costs remain the same. If oil prices and…
DetailsAn auction for placement of short-term notes worth 200 million manats of Azerbaijan’s Central Bank (CBA) will be held at the Baku Stock Exchange (BSE) on September 27, the BSE said. Some 2 million notes at a par value of 100 manats each and maturity period of 28 days will be put up for auction.…
DetailsTIU (Canada) plans to invest EUR 94 million in the construction of five solar power plants in Ukraine, the company’s press service has reported. The company intends in autumn this year to complete the construction of the first station worth EUR 14 million with a capacity of 10.5 MW in the territory of Nikopol Ferroalloys…
DetailsThe government of Ukraine has provided in the draft state budget for next year UAH 44 billion (about $1.68 billion) for the construction and repair of roads and additional UAH 4 billion (about $150 million) for two large-scale projects, Ukrainian Prime Minister Volodymyr Groysman said. “This year, we have invested UAH 30 billion in the…
DetailsFrom October 2016 to July 2017, the trade turnover between the Republic of Kazakhstan and the Socialist Republic of Vietnam has more than doubled, according to the Eurasian Economic Commission’s press service. According to the Commission, since the Free Trade Agreement between the Eurasian Economic Union (EAEU) and Vietnam came into force, in October 2016…
DetailsArmenia has joined the Framework Agreement on Facilitation of Cross-border Paperless (electronic) Trade in Asia and the Pacific. The corresponding document was signed by foreign minister Edward Nalbandian on the sidelines of the 72nd session of UN General Assembly on September 22. E-commerce is the buying and selling of goods and services, or the transmitting…
DetailsPrime Minister Juri Ratas and European Commissioner for Mobility and Transport Violeta Bulc met to discuss how the funding of transport infrastructure might continue in the EU beginning in 2021. “Connecting Europe Facility (CEF) has so far been very successful. Without cross-border infrastructure Europe cannot talk about an internal market and fundamental freedoms. Due to…
Details564 fuel bases and coal sales points were opened in Kyrgyzstan, the State Committee of Industry, Energy and Subsoil Use reported. 30 coal sales points were opened in Chui region. Fuel is sold at 3,400-4,100 soms. It should be noted that last year the cost of coal was much lower – 2,700-2,800 soms per ton.…
DetailsUkrainian government considers machine-building one of the most important integrated industries on which Ukraine’s further economic success depends, Prime Minister Volodymyr Groysman said in his greeting address on the occasion of Machine Engineers Day, the government press service reports. “Ukraine’s considerably experienced machine engineers develop and design complex systems and devices: home appliances and radio…
DetailsShadow economy in Ukraine fell by 6% YoY in the first quarter of 2017, to 37% of GDP, according to the analytical report published on the Ukrainian Economic Development and Trade Ministry’s website. The ministry noted that the de-shadowing stemmed directly from ensuring macroeconomic stabilization and economic growth, wage growth against the backdrop of reducing…
DetailsReconstruction work at Lennart Meri Tallinn Airport remains on schedule and will have been in large part be completed by October 12, before construction of the airport’s new parking garage begins next year. “Tallinn Airport has reached the fourth interim stage with the currently ongoing air traffic area development project, which is to last until…
DetailsTajik President Emomali Rahmon, within his New-York visit to attend the high-level events of the United Nations, met with U.S. business circles. Speaking at the event, Rahmon underlined Tajikistan’s interest in good and comprehensive relations with the United States and called this meeting an important mean for expanding interstate economic and trade cooperation. Referring to…
DetailsThe supervisory board and owner of the Estonian state-owned energy group Eesti Energia have given their approval for expanding the company’s electricity retail business to the Finnish and Swedish markets. The company plans to launch retail sales in both countries in the first half of next year. According to Eesti Energia CEO Hando Sutter, a…
DetailsIn January-August water transport of Ukraine carried 3.6 million tons of cargo, down by 11.4% YoY, says State Statistics Committee of Ukraine. Cargo turnover grew by 11.6%, to 2,875.9 million t-km. All types of transport carried 414.1 million tons (+3.6%). At the same time water transport carried 0.4 million passengers (+40.2%). According to State Statistics…
DetailsImplementation of e-payment system in public transport has started in the capital of Turkmenistan. Three types of e-cards for payment (general, for schoolchildren, for pensioners) appeared at various points of sale of Ashgabat city. General e-cards operate as e-wallets, and cash is automatically withdrawn from the balance of an e-card when brought close to a…
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