According to the information released by Statistics Estonia on September 20, the producer price index of industrial output increased by 0.8% MoM and by 4.7% YoY. Compared to the previous month, the producer price index in August was affected more than average by an increase in prices in the manufacture of electronic equipment, in electricity,…
DetailsPrime Minister Juri Ratas (Center) met with Vice-President of the European Commission Maros Sefcovic to discuss energy infrastructure projects, the Clean Energy package and other energy sector-related matters. Ratas and Sefcovic opened the meeting by discussing the synchronization of Baltic power systems with Poland and Europe. “The synchronization of Baltic power systems needs to meet…
DetailsThe Belarusian economy will be able to reach the targeted gross domestic product (GDP) figure this year, Belarusian Economy Minister Vladimir Zinovsky declared. “We should definitely fulfill the commitments undertaken by the government – GDP as high as 101.7%. Now the figure stands at 101.6%, but it doesn’t mean it cannot go lower, for instance,…
DetailsAccording to the Minister of Investments and Development of Kazakhstan Zhenis Kassymbek, Kazakhstan will resume grain supplies to Norway. Speaking at the plenary session of Mazhilis, Kassymbek noted that even though the trade turnover between the two countries was low right now, there was a 53% increase in automobile transportation and the ministry saw prospects…
DetailsTurkmenistan is known worldwide for its huge oil and gas reserves, however it is not the only resource which brings the country most of its income. One of the primary exports items of Turkmenistan has traditionally been cotton. Cotton is equalized to gold as it is widely used in various industrial branches, including textile, food,…
DetailsLast year, the trade turnover in agriculture sphere between Azerbaijan and China totaled only $10 million, Azerbaijani Minister of Agriculture Heydar Asadov reported. He said that the relations between the two countries in the agrarian sphere were currently growing, but some problems still remained. “The main problem is to increase export and export potential of…
DetailsThe Kyiv-based 410 Civil Aviation Plant is overhauling light transport An-32 planes under a request of Bangladesh, the press service of the enterprise has reported. According to a posting on the company’s website, recently the plant has received an An-32 plane from the Bangladeshi customer. The plant did not disclose the details of the contract,…
DetailsTrade turnover between Ukraine and the Republic of Poland increased by 30% YoY in the first quarter of 2017, Deputy Foreign Minister of the Republic of Poland on Security, Consular Affairs and Eastern Policy Bartosz Cichocki said during his visit to Kyiv. “We are happy to note that the turnover for the first quarter of…
DetailsThe Estonian Food and Veterinary Board (VTA) has diagnosed African swine fever (ASF) in pigs on a farm with 6,800 pigs belonging to Linnamae Peekon OU in Laane-Nigula Municipality, Western Estonia. The VTA received a call on September 18 stating that increased mortality had been detected on the farm. The last time the VTA had…
DetailsOnce commissioned the nuclear power plant in Ostrovets will generate about 25% of electrical energy Belarus needs, Belarus’ Deputy Energy Minister Mikhail Mikhadyuk said at a plenary meeting of the 61st session of the IAEA General Conference in Vienna on September 19. He stressed that today many states pinned their hopes on nuclear energy as…
DetailsTurkmenistan remains a key natural gas holder in the center of Eurasia, an area, which has long failed to realize its huge potential due to geopolitical developments and economic changes. The total natural gas reserves of Turkmenistan are estimated at 50.4 trillion cubic meters. As many as 19 oil and gas-oil and 65 gas fields…
DetailsNext year, Estonia will see its largest defense budget so far. According to Minister of Defence Juri Luik (IRL), funding Estonia’s national defense continues to be a priority. The defense area accounts for about EUR 528 million in next year’s state budget, which is the largest defense budget in Estonian history, according to the Ministry…
DetailsRoad Transport Administration plans to speak with Riga and Pieriga administrations about the fractured public transport system in the region, says the administration’s chairman Kristians Godins. Organization for Economic Co-operation and Development has concluded that transport planning in Riga and its region is fragmented and does not reflect Riga region’s scale. OECD believes coordination among…
DetailsThe economic growth in Kazakhstan has amounted to 4.3% since the beginning of this year, the First Vice-Minister of the National Economy of Kazakhstan Ruslan Dalenov said on September 19 during a government meeting. “After the slight slowdown of 4% in July, the economic growth accelerated to 4.3% during the eight months of this year,…
DetailsUkraine’s gross external debt as of early July was $114.836 billion, up by 1.05% from the beginning of the year, according to the website of the National Bank of Ukraine (NBU). Since the beginning of the year, the gross external debt of the country has increased by 1.16%. According to the central bank, the debt…
DetailsNext year, the minimum wage will grow from UAH 3,200 to UAH 3,723 ($142). The minimum living wage per person will be UAH 1,700 from January 1, 2018, UAH 1,777 from July 1, and UAH 1,853 from December 1, 2018. Such a growth of social standards is stipulated in the draft Law of Ukraine “On…
DetailsAzerbaijan has purchased new artillery guns from the Czech Republic. The DANA self-propelled artillery guns of the Czech production have been delivered to Azerbaijan and are being used in large-scale exercises involving various branches of Azerbaijani Armed Forces, the Defense Ministry reported on September 18. First introduced in 1977, DANA systems have a firing range…
DetailsIn August Latvian airline airBaltic carried 386,597 passengers, up by 21% YoY. For the third consecutive month the airline has been steadily exceeding its passenger transport results. In the first seven months of 2017, the airline carried a total of 2,345,371 passengers to destinations in Europe, Scandinavia, Russia, CIS and the Middle East. In August,…
DetailsAzerbaijan’s Ministry of Finance has submitted the state budget drafts for 2018 to the Cabinet of Ministers, the ministry said on September 18. Draft state budget and draft consolidated budget for 2018, as well as consolidated budget indicators for the next three years, were submitted to the Cabinet of Ministers. Azerbaijani state budget revenues for…
DetailsUkraine has received proposals to buy back 2019 eurobonds for $1.161 billion and 2020 eurobonds for $415.152 million and chosen to accept all of the bonds validly tendered for repurchase, the issuer has reported on the Irish Stock Exchange (ISE) on September 18. “The offeror hereby announces that the total final acceptance amount is equal…
DetailsMinimum authorized capital for each newly established commercial bank in Uzbekistan will be 100 billion soums starting from October 1. According to the decree of the country’s President Shavkat Mirziyoyev “On measures to further develop and improve stability of Uzbek banking system”, the banks operating in Uzbekistan must bring their authorized capital, if necessary, to…
DetailsThe Boryspil International Airport is conducting another round of negotiations with one of the largest European air-carriers, Ryanair, to ensure its entry into the Ukrainian market, Minister of Infrastructure Volodymyr Omelyan reported. “At the moment Ryanair is in the negotiation process with the Boryspil Airport. I hope that these negotiations will be a success, from…
DetailsThe trade turnover between Ukraine and the European Union grew by one third over the first eight months of the current year compared with the same period in 2016, President of Ukraine Petro Poroshenko stated during 14th Yalta European Strategy (YES) annual meeting. “The Deep and Comprehensive Free Trade Area has allowed us to restructure…
DetailsThe supervisory board of Estonian Railways (EVR) authorized the company’s management board to begin the activities necessary for the construction of the Riisipere-Turba section of the future Haapsalu rail link. The company must draw up and coordinate the project’s terms of reference and draft project, carry out an environmental impact assessment and construction engineering study…
DetailsMinister of Finance Toomas Toniste (IRL) said that increased economic growth, which is increasing revenues to the state budget, should not mean an increase in expenditures. “My wish is that next year, when revenues increase, we do not increase spending,” Toniste said at the government press conference. “This will generate additional funds and we will…
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