Uncertainty over macroeconomic trends is high amid the Russia-Ukraine war, but Georgia’s financial system is ready to withstand stress, the National Bank of Georgia has said. “The banking sector remains resilient even in the face of severe and extreme risk scenarios. Despite the possible losses, the existing capital buffers allow for their absorption,” the NBG…
In April, the total production of industrial enterprises increased by 3.8% at constant prices compared to April 2021, data from Statistics Estonia showed. The biggest fall was in the mining sector. Output increased in two of the three industrial sectors: by 3.7% in manufacturing and by 9.6% in electricity production. In mining, output fell by…
Ukrainian Foreign Minister Dmytro Kuleba has called on Australia to provide more weapons to Ukraine and proposed including the country in the Australian System of Tariff Preferences. Kuleba held talks with Australian Foreign Minister Penny Wong, thanked her for military and humanitarian aid to Ukraine and called on Australia to provide more heavy weapons to…
Poland’s Purchasing Managers’ Index (PMI) fell to 48.5 points in May from 52.0 points in April, economic researcher S&P Global reported on June 1. Economists polled by PAP predicted the PMI would reach 52.0 points in May. According to S&P Global, the reasons for the decline included the war in Ukraine and inflationary pressures. The…
Latvian parliament’s Public Administration and Local Government Committee decided to not support the proposal for giving municipalities the right to fully restrict gambling activities within their respective territories. The proposal was submitted by Seaima deputy Viktors Valainis prior to the third reading of the Law on Local Governments. He proposed “issuing commercial permits and licenses,…
Approximately 2,000 amendments have been submitted to the draft Family Benefits Bill by the Reform Party to slow the legislation’s progress through the Riigikogu. The Center Party has agreed to hold extended sittings to process them. Reform whip Mart Vorklaev said this had been done for several reasons. A substantive debate should be held to…
Western sanctions on Russia are inflicting increasing economic pain, Mateusz Morawiecki, the Polish prime minister, has said. Morawiecki made the claim upon the conclusion of an EU summit in Brussels on May 31 where EU leaders agreed on an oil embargo against Russia, hitting at the foundations of the country’s economy. “The sanctions are slowly…