According to a study by Oxford Research Baltics, the losses the aviation industry suffered in 2020 compose 19.4% of the total expected GDP decline in Latvia. However, the total influence, including indirect and induced effect, reaches 43% of the total GDP decline, as reported by Latvian Aviation Association. Estimates form Oxford Research Baltics showed that…
Despite the Covid-19 pandemic, film industry in Lithuania reported record-setting investments in 2020, the Lithuanian Film Centre said. Swedish TV series were among the biggest productions. International film producers spent almost 27 million euros in Lithuania last year, up from 15 million euros in 2019. Meanwhile Lithuanian producers raised 11.3 million euros from local companies…
In 2020, Ukrainian exports to the Socialist Republic of Vietnam (SRV) increased by 92%, to $184.5 million. The countries agreed to resume work on a free trade agreement (FTA), Deputy Minister of Economic Development, Trade and Agriculture – Trade Representative of Ukraine Taras Kachka wrote on his Facebook page following a meeting of the Ukrainian-Vietnamese…
On January 25, Japanese credit rating agency R&I maintained Latvia’s credit rating at A-level with a stable future outlook, the State Treasury reported. In spite of the negative effect from Covid-19 pandemic, which caused a massive decline for Latvia’s economy in 2020, the agency claims the framework of economic growth is not affected and it…
The Ukrainian economy will begin to recover in 2021 due to positive trends in foreign markets and monetary policy of the National Bank of Ukraine (NBU). Such forecasts were made by Ukrainian presidential advisor on economic issues Oleh Ustenko, the press service of the President’s Office reported. “If we talk about 2021 in general, we…
Looking at the budget, Riga City Council Finance and Administrative Affairs Committee supported increasing wages for the city council chairman, vice-chairmen, heads of committees and deputies instead of freezing the wage increase process similarly to other municipalities and state institutions. The proposal to freeze the increase of wages was suggested by members of Harmony political…
Retail trade in Ukraine grew by 8.4% in comparable prices in 2020 against 2019. Retail turnover increased the most in Kyiv region (by 18.7%), Zaporizhia region (by 15.7%) and Chernihiv region (by 14.2%), according to the Ukrainian State Statistics Service. Meanwhile, the turnover dropped by 2.7% only in Zakarpattia region, the report said. Retail trade…