Lithuania’s budget for 2023 was planned with 3% of GDP allocated to defence spending. However, the plans had to be adjusted due to the energy crisis, Defence Minister Arvydas Anusauskas said on October 13. “We had plans for 3%. That plan has not disappeared anywhere, but after that plan was drawn up, the energy crisis…
Poland’s special-purpose development bank BGK has been actively trading on the FX market, increasing its activity in recent days to limit the weakening of the Polish currency, financial market insiders have said. “BGK has certainly been present regularly since the onset of the war,” one insider said, referring to Russia’s war on Ukraine. At first,…
Poland is mulling a windfall tax and if a decision is made to implement it, the resolution will target particular sectors and not all companies, government spokesperson Piotr Mueller has said. “It does happen that some companies, given the international situation, generate higher profits than they would from natural economic activity, and we have not…
Lithuania is providing 5 million euros through the World Bank for urgent reconstruction work in Ukraine, the Finance Ministry has said. The Ukraine Relief, Recovery and Reconstruction Trust Fund (URTF) was set up by the World Bank to help finance immediate recovery efforts in the country. “To ensure that financial assistance reaches Ukraine as quickly…
Georgian external trade turnover amounted to billion in January-September, up by 35.3% YoY, the National Statistics Office revealed on October 13. Trade deficit reached $5.41 billion, and the share of trade turnover hit 39.8%. Last year Georgia’s exports totaled $4.24 billion, while imports reached $10 billion. The total turnover was $14.31 billion, while the trade…
Current and planned reforms in Georgia and the importance of the financial support of the European Investment Bank were discussed on October 12 in a meeting between the Georgian prime minister Irakli Garibashvili and Maciej Czura, the head of the EIB regional representation for the South Caucasus. The meeting underlined the importance of the financial…
Poland is the number-three country in terms of aid granted to Ukraine, as measured by its ratio to Gross Domestic Product (GDP), recent data from a German think tank has shown. According to the Kiel Institute for the World Economy (IfW), the first place in the ranking of countries providing aid to Ukraine belongs to…