The ministers of foreign affairs of Estonia, Lithuania and Poland in a joint statement praised the approval of the price cap on Russian oil and called on the EU to speed up the preparation of the next round of sanctions on Russia. That’s according to a tweet by Estonia’s Foreign Minister Urmas Reinsalu. “We need…
The Sejm, the lower house of the Polish parliament, has adopted a bill freezing natural gas tariffs in 2023 for all households and sensitive recipients at 2022 levels. The bill went through on December 1 night with 424 votes in favour and 16 abstentions, with no votes against. Under the draft legislation, the gas price…
Lithuania’s Ministry of Finance has unveiled a new plan for taxing residential real estate. The tax will apply to around half of properties in each municipality and, according to the government, will be socially just. The new proposal sees taxing individual properties rather than the sum total of the value held by one owner. The…
Georgian deputy economy minister Mariam Kvrivishvili announced GEL 200 million ($73.81 million) would be allocated at the initiative of Prime Minister Irakli Garibashvili to improve tourism infrastructure and contribute to the creation of new jobs in the sector. Kvrivishvili also noted the government’s recently announced programme for developing new tourism locations while upgrading the existing…
Poland’s Purchasing Managers’ Index (PMI) rose to 43.4 points in November from 42.0 points in October, economic researcher S&P Global reported on December 1. Economists polled by PAP predicted the PMI would reach 42.8 points in November. “Manufacturing and new orders fell for another month in November, albeit the pace of decline slowed down compared…
The United States Agency for International Development has allocated a grant of $220,000 for supporting financial market development in Georgia, the national bank of Georgia reports. The two-year programme aims to provide necessary financial support for the implementation of activities planned by the Georgian Financial Markets Treasuries Association to promote development of the domestic financial…
Ratings agency Standard and Poor’s (S&P) has downgraded Poland’s economic growth forecast to 0.9% in 2023 from 1.2% forecast in September. At the same time, S&P predicts that Poland’s economic growth will accelerate to 3.2% in 2024. “Our baseline assumption is weak but still a positive GDP growth of 0.9% in 2023 versus our previous…