Next year’s budget revenue and expenditure are both more than EUR 13 billion. Revenues are rising due to rapid economic growth and next year’s budget deficit will remain within the limits of the European Union’s budgetary rules, which is less than 3% of GDP. According to the budget strategy drawn up in spring, next year’s…
Four parties of the ruling coalition in Latvia together with Atis Zakatistovs’ Stability Group have reached a political agreement on the 2022 state budget, as confirmed by the Latvian Prime Minister Krisjanis Karins. He said in the next year’s budget it would be very important to promote both economic growth and residents’ welfare, as well…
Uzbekistan’s total external debt in the first six months of 2021 amounted to $35.9 billion (57% against GDP), according to the data unveiled by the Central Bank on September 24. Since the beginning of the year, the indicator has expanded by 6% or by $2 billion. External debt includes public and private debt. The first…
On September 23, Latvian Saeima rejected a proposal submitted by opposition members to reduce VAT for sectors of the economy impacted the most by the Covid-19 crisis from 21% to 5%. The parliament reviewed amendments to the Value Added Tax Law submitted by the political party Republika Saeima. In the end amendments were rejected. Saeima…
Uzbekistan exported $1 billion worth of cotton yarn during the first eight months of 2021, against $559.1 million in 2020. Cotton yarn accounted for 55.8% of the total textile export. The country exported $430.7 million worth ready-made knitwear and sewing products and $158.8 million worth of knitted fabric. The share of other items, including carpets,…
Estonia’s defense budget is expected to rise by EUR 103 million, to EUR 748 million next year. This will put the country’s defense spending at 2.31% of the forecast GDP. Minister of Defense Kalle Laanet (Reform) said this sum included allied costs, a defense investment program and new capability developments. “We can send a strong…
The peak of economic recovery is expected in the fourth quarter of 2021 – the first quarter of 2022, the Eurasian Development Bank (EDB) says. At the same time, it is noted that the low-water period poses risks to economic activity. The EDB’s forecast assumes a slowdown in price growth next year, given the stability…