Economy Ministry has proposed that the government cover accommodation costs of every third night that foreign tourists spend in the country. The measure would be “unique in Europe”, said the acting economy minister, Zygimantas Vaiciunas. “The new measure we are creating, which would in fact be rather unique in Europe, aims at promoting inbound tourism,”…Details
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Capital investment in Ukraine in January-March fell by 35.5% after growing by 21.2% in the fourth quarter of last year, the State Statistics Service reported. In the first quarter of this year, UAH 76.914 billion of capital investment was disbursed (excluding the temporarily occupied Crimea, Sevastopol and the territories of Luhansk and Donetsk regions). Among…Details
The International Monetary Fund (IMF) has worsened the outlook for Ukraine’s economy in 2020. In particular, the GDP will drop from 7.7% to 8.2% as was predicted in April, the IMF said in a press release. According to the Fund, the Ukrainian GDP will start growing again in 2021. In particular, it will grow by…Details
In 2020, GDP is expected to decline by about 4% compared to 2019 in Kyrgyzstan, report on the monetary policy of the National Bank of the country says. Excluding enterprises developing Kumtor mine, the GDP drop in 2020 is expected to reach about 5%. According to the forecast, the largest decline could be registered in…Details
According to an economic growth forecast issued by the Bank of Estonia, the Estonian economy is expected to see a negative economic growth of 10% YoY this year due to the global coronavirus pandemic – but only if new restrictions are not introduced. According to the central bank, the economy will not see pre-crisis levels…Details
“The volume of gold and forex reserves of Kazakhstan hit its highest since fall 2017,” Deputy Chairman of the National Bank of Kazakhstan Aliya Moldabekova said. The reserves grew in May by $950 million, to $31.5 billion. Gold portfolio decreased slightly despite slight gold price growth from $1,717 to $1,726 per ounce. In May the…Details
PrivatBank (Kyiv) has issued the first refinancing loan under the Affordable Loans 5-7-9% program at 0% per annum until the end of March 2021, the Ministry of Economic Development, Trade and Agriculture has said on its website. “Under the Affordable loans 5-7-9% updated program, state-owned PrivatBank refinanced a loan to an entrepreneur in the amount…Details