A total of GEL 1.8 billion ($0.66 billion) was returned to taxpayers in Georgia in the first 10 months of 2022 as part of the VAT return reform, the country’s revenue service announced. The reform involves returning the surplus generated from VAT payments through a “new and simplified” system upon delivery of VAT declarations. First…
Inflation will peak at around 19% at the start of next year, but will fail to break the 20% barrier, says Adam Glapinski, governor of the National Bank of Poland (NBP). He added that inflation, which rose to 17.9% in October, should start to fall in the second quarter of 2023. Glapinski made the statement…
The Norwegian Government is preparing to contribute approximately NOK 1.5 billion (about $144 million) to the Britain-led International Fund for Ukraine. This was reported by the press service of the Norwegian Government. It is noted that this sum comes in addition to NOK 400 million that Norway previously has donated to the fund. According to…
Estonian state-owned postal service Omniva has unveiled its one-thousandth parcel machine in the Baltic States, which opened in the Lithuanian capital, Vilnius, on November 9. The latest addition is part of the expansion and renewal of the company’s network, which will see around 270 parcel machines being replaced or newly installed in the coming months.…
Lithuanian lawmakers on November 10 held their first hearing of the 2023 state budget bill and returned it to the government. Ministers will now look into MPs’ proposals and will later submit the adjusted budget bill to the Lithuanian parliament Seimas. According to Seimas Vice-Speaker Paulius Saudargas, the second hearing would take place no later…
Nearly two-fifths of residents in Baltic States invest in various financial instruments, according to results of SEB Bank’s Baltic residents survey. In Latvia 38% of residents are engaged in investments and 39% in Lithuania and Estonia. Latvian residents and Estonian residents are generally braver when it comes to investments, according to the survey. 14% of…
The Monetary Policy Council (RPP), the Polish central bank’s rate-setting body, has kept the reference interest rate at 6.75%, it announced on November 9, despite rising inflation. The National Bank of Poland’s Lombard rate remained at 7.25%, the rediscount rate at 6.80% and the discount rate at 6.85%. The RPP also left the deposit rate…