On November 22, the Organisation for Economic Cooperation and Development (OECD) presented a report in which it named Latvia the second most rapid growth among Baltic States this year. According to OECD, Latvia’s GDP may grow by 2.3% in 2022. For next year OECD predicts a 0.2% drop for Latvia’s economy. In 2024, Latvia will…
The existing reduced 9% VAT rate for the catering sector will remain in place in Lithuania until the end of 2023, the parliament Seimas decided on November 22. Lower VAT rates were introduced to prop up the catering sector during the Covid-19 pandemic and were due to expire at the end of the year. Previously,…
Poland’s average corporate gross monthly wage rose by 13% YoY, to PLN 6,687.92 (EUR 1,418.78) in October, the Central Statistical Office (GUS) said on November 22. In monthly terms, the average wage remained unchanged. Economists polled by PAP expected a 14% annual increase in the corporate wage in October and a 0.7% increase from September.…
Lithuania, Latvia, Estonia and Poland are pushing other EU countries and the European Commission to agree on the Russian oil price cap and the EU’s ninth sanctions package against Moscow at the same time. The four countries have been arguing for tougher EU sanctions against Russian since the start of its war in Ukraine. According…
Poland’s national statistics office, GUS, wrote on November 22 that Poland’s industrial output rose by 6.8% YoY in October against an 8% annual growth expected in a PAP consensus survey. Compared to the previous month, it shows a decrease by 0.7%. Analysts surveyed by PAP expected a 0.2% monthly increase. Seasonally adjusted industrial output rose…
Georgian economy minister Levan Davitashvili on November 21 said the forecast of the International Monetary Fund projected the Georgian economy’s 2022 growth to be 10.5%, and highlighted the country exhibited “one of the highest” growth rates in the region. The ministry quoted Davitashvili as saying the domestic economy “continues to grow this year despite the…
Thirteen education institutions from Moldova will receive about 14.3 million euros for the implementation of 20 projects in the following sectors: Sciences of education, Engineering and engineering activities, Information and communication technologies and Health. Following their implementation, about 52 laboratories and research centres, 67 classrooms, poly-functional halls and other training areas will be endowed. More…