Georgian economy minister Levan Davitashvili on November 24 said the government would ensure transformation of the country into a transit corridor and logistics hub that would make rapid transportation and communication available for “businesses on two continents”. The Ministry of Economy cited Davitashvili as having made the statement at the ministerial conference of the Central…
This weekend, Vilnius and Kaunas will light up their main Christmas trees. Amid drive for austerity, there will be fewer lights, but the big cities hope the festive mood will not be sombre. Vilnius, which is planning a Christmas budget of almost half a million euros, says it makes economic sense for the city to…
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…