The values that serve as criteria for defining the status of micro, small and medium enterprises (SMEs) have been amended. As a result, the number of companies registered as SMEs will increase by at least 805 companies. The changes provide for the doubling of turnover thresholds for the award of micro, small and medium enterprise…
Georgia received $2,854,529,093 from international tourism between January and October, with the figure surpassing pre-pandemic numbers from 2019 and hitting record-high markers this year, the Georgian national tourism administration announced on November 17. The administration said revenues from international tourism increased by 183.2% YoY. It also added the figures showed a 100.2% recovery from the…
Over the past two years, real estate prices in Lithuania have been rising faster than wages, which reduces the affordability of housing and may cause social problems, warns central bank chief Gediminas Simkus. “Housing is not just a piece of property, it is first and foremost a basic human need. It is the place where…
On the order of President of Ukraine Volodymyr Zelenskyy, the Government launches an action program to restore the de-occupied region, Prime Minister of Ukraine Denys Shmyhal said in his opening statement during the Government’s session on November 15. “We are returning normal life to Kherson region. We will help people with all the necessary things…
The Georgian central bank plans to roll out a pilot scheme for a digital version of the national currency lari, governor Koba Gvenetadze has said. Gvenetadze said the digital currency would have the same value and legitimacy as banknotes and coins, and added the main idea behind testing the innovation was to find out how…
Poland’s general government deficit will likely be lower in 2022 than the 4.7% of GDP the government has assumed in the budget law for next year, the central bank’s rate-setting body has said. When preparing the state budget for next year, the government also included its updated expectations concerning key economic figures for the current…
It is high season in Lithuania’s largest spruce plantation. Around 60,000 trees will be shipped off to Scandinavian countries before Christmas. However, with the Russian market cut off, this year will not be profitable for spruce growers. Daivanas Pranciulis, who grows about 1 million trees in his plantation near Zagare, northern Lithuania, started preparing for…