Latvia’s gross domestic product (GDP) will decline by 7.3% this year. Next year the country’s economy will grow by 4.7%, according to international ratings agency Moody’s Investors Service, Inc. (Moody’s). According to Moody’s estimates, Latvia’s credit rating, which is at A3 level, is supported by three main factors – flexible and relatively varied economy, the…Details
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From July 1, Wizz Air will fly between Tallinn and Kyiv, Ukraine despite government restrictions still being in place for passengers flying from high-risk countries with coronavirus. Passengers may be denied entry without a permit. Eero Pargmae, Commercial Director of Tallinn Airport, said the order restricting air traffic came from the Ministry of Economic Affairs…Details
A total of 69% of Ukrainians have experienced the economic impact of the coronavirus COVID-19 pandemic. “Almost a third of respondents reported losing their jobs, while over half spent their savings and cut their expenses on food. People from rural areas, industrial workers and households with unemployed members suffered the most,” according to a survey…Details
Ministry for Development of Economy, Trade and Agriculture says the share of the shadow economy in 2019 fell by 3% against 2018, from 31% to 28% of the country’s official GDP. The figures are mentioned in the report titled “General Trends of the Shadow Economy in Ukraine”, which was posted on the ministry’s website. The…Details
A groundbreaking ceremony of the new Student’s House took place in Almaty in the territory of the Al Farabi Kazakh National University on the eve of the Capital City Day. It is expected to accommodate up to 1,250 students. The university has now 16 dormitories for 7,000 students. The new one will be the 17th.…Details
The speed limit on the planned Tallinn-Vaike bypass will be 50 km/h in the stretch that will pass through the residential district of Rae, southeast of Tallinn, city authorities say. “We have reached an agreement between the various parties, whereby the planned Tallinn-Vaike ring road will be 70 km/h, and 50 km/h in the residential…Details
As of June 19, the annual inflation rate fell to 6.1% after it reached the level of 8.6% in April, the National Bank of Kyrgyzstan reported. Weakening of domestic demand determines the downward dynamics of inflation in the country. The National Bank noted that the slowdown in inflation occurred mainly due to a decline in…Details