The World Bank has approved an additional support package for Ukraine of more than $700 million. The World Bank’s Board of Executive Directors approved over $489 million of the Development Policy Loan, called Financing of Recovery from Economic Emergency in Ukraine (FREE Ukraine) between Ukraine and the International Bank for Reconstruction and Development. In particular,…
The government has approved the increase in the quantum of minimally guaranteed salary in the real sector up to 3,500 lei from April 1. The decision was taken following consultations with social partners, at the tripartite dialogue on the platform of the National Commission for Collective Consultations and Negotiations (CNCNC). According to the government’s communication…
The Lithuanian government may delay presenting a planned tax reform and, even if the bill reaches the parliament during its spring session, implementing the changes may be pushed back until a much later date. Prime Minister Ingrida Simonyte said that she basically agreed that “such issues must be discussed rationally and pragmatically, considering the evolving…
Tourism rose by 64% YoY in January, state agency Statistics Estonia reports. Tourist numbers rose both for foreign tourists, exiting the Covid pandemic, and domestic travelers, with Latvia providing more visitors than any other country. Over 158,000 tourists stayed in hotels, hostels, guest houses and other accommodation establishments in January, the agency reported. While the…
The trends and dynamics of the economic growth, exports and tourism in Georgia were at the top of the agenda of a meeting between Georgian Prime Minister Irakli Garibashvili and chairpersons of the Business Association and Georgian banks on March 8. Garibashvili highlighted the “positive economic trends”, naming the country’s 18% growth in January and…
A part of people fleeing the war in Ukraine have already found work in Estonia. While hundreds of wanted ads have been posted, employers want the chance to hire refugees on the same grounds as permanent residents. That said, refugees are expected to do different things than people who have come to work in Estonia…
As Lithuanian companies are severing ties with Russia, out of solidarity with Ukraine or for pragmatic considerations, the effects will be felt by some sectors more than by others. A slew of international brands have announced they are stopping business in Russia following Pootin’s invasion of Ukraine. Sweden’s Ikea and H&M, Apple, Denmark’s Maersk, Germany’s…