Ukraine: foreign reserves up in 2018

Ukraine’s international reserves in 2018 grew by 10.6% YoY, to $20.820 billion, updating a five-year record, according to the National Bank. The last time such figures were reported was in October 2013. The regulator said the reserves were successfully accumulated due to Ukraine securing external financing and the NBU buying up the excessive currency on…

Estonia: November 2018 industrial production up

According to the information released by Statistics Estonia morning, the production of industrial enterprises increased by 8% YoY in November 2018, with production increasing in manufacturing and energy, but decreasing in mining. Total production in manufacturing in November 2018 increased by 8%, with over half of all industry branches exceeding its 2017 November volumes. This…

Uzbekistan: exports to Ukraine to increase

In 2019, Uzbekistan plans to increase exports to Ukraine to $220 million and resume flights between Tashkent and Kiev. The announcement was made by the Uzbek Ambassador to Ukraine Alisher Abdualiyev. In addition, it is planned to develop projects to attract direct investments of $10 million in Uzbekistan for the production of pharmaceutical products. It…

Estonia: retail turnover up in November 2018

According to information released by Statistics Estonia, in November 2018, the turnover of retail trade enterprises totaled EUR 604 million, accelerating from 3% growth YoY in October to 5% growth at constant prices. The turnover of stores selling manufactured goods increased by 10% YoY. Turnover increased in most economic activities, except in stores selling second-hand…

Ukraine: state debt up in November 2018

Ukraine’s state and government-guaranteed debt in November grew by 0.6%, or by $0.44 billion, to $74.76 billion. The amount of the debt in the hryvnia equivalent increased by 1.4%, or by UAH 29.4 billion, to UAH 2.122 trillion, the Ukrainian Finance Ministry said. Since the beginning of the year, the country’s state debt in the…

Georgia: GDP by regions in 2017

The largest share of gross domestic product (GDP) of Georgia by region was held by the capital city of Tbilisi (50.1%), followed by the regions of Imereti (10%), Adjara (8.9%), Kvemo Kartli (8.2%) and Samegrelo-Zemo Svaneti (6.4%). Overall, the GDP of Georgia at current prices in 2017 amounted to 37.84 billion GEL, says the regional…

Ukraine: shadow economy down in H1 2018

The share of Ukraine’s shadow economy totaled 32% of GDP in the first half of 2018, down by 3% YoY, the press service of the Economic Development Ministry reports. According to the ministry, the shadow economy in Ukraine declined due to maintaining macroeconomic stability, creating favorable conditions for doing business in Ukraine and preserving the…

Georgia: economic performance strong

Georgia’s economic performance remains strong, but downside risks to the outlook have increased, reads the third review of the International Monetary Fund (IMF) of Georgia’s performance under the 3-year Extended Fund Facility (EFF). The executive board of the IMF completed the third review on December 19. The completion of the review will release about $41.6…

Estonia: Riigikogu adopts 2019 state budget

The Riigikogu has adopted Estonia’s 2019 state budget, the total volume of which exceeds EUR 11 billion. Altogether 52 MPs voted in favor and 46 against the 2019 State Budget Act, spokespeople for the Riigikogu said. 23 proposed amendments submitted ahead of the third reading of the state budget bill were reviewed on December 12,…