Euribor, an interbank lending rate that affects interest payments, is set to rise by 1% this year, by 2% in 2023 year and remain at a similar level at least until 2032. According to the Bank of Lithuania, the Euribor hike is expected in mid-summer. It will be felt by almost all residents of the…
Since the start of the full-scale Russian invasion of Ukraine, the European Union has provided a total of EUR 4.5 billion in financial support to Ukraine, Deputy Head of the Office of the President Ihor Zhovkva has announced. “The total amount of assistance that the European Union has provided since the launch of Russia’s open…
Moody’s has downgraded the Government of Ukraine’s foreign and domestic currency long-term issuer ratings and foreign currency senior unsecured debt ratings to Caa3 from Caa2. Moody’s has also changed the outlook to negative from ratings under review, concluding the review for downgrade that was initiated on February 25, reads the report released on the agency’s…
Poland’s retail sales increased in real terms by 19% YoY, but fell by 0.1% MoM in April 2022, the Central Statistical Office (GUS) said on May 23. But in a commentary on the GUS data, the bank said that such a high figure was likely “unsustainable” because in May 2021 customers rushed to shops and…
Compared to April 2021, the level of producer prices in Latvian industry increased by 29.9% in April. The level of prices of products sold on the domestic market increased by 39.6% and prices of exported products – by 21.8%. Prices of products exported to euro area countries rose by 26.5% and prices of products exported…
The European Commission’s recommendations for Estonia include expanding unemployment insurance benefits to cover non-standard forms of work and updating vehicles. The European Commission on May 23 published its country-specific recommendations for the next six months. The Commission urges Estonia to expedite renewable energy projects, secure cross-border energy links and render the transport sector more environmentally…
Lithuanian President Gitanas Nauseda has signed the revised 2022 state budget bill into law but criticised the government for being too slow in countering inflation. “People pay taxes to contribute to a bigger budget and better public services in good times and to receive timely state support in difficult times,” he said in a statement…