Georgian Prime Minister Irakli Garibashvili and members of the Government’s Economic Council met on May 14 to review steps and measures to be made towards ensuring growth in the country. Garibashvili said Georgia was experiencing a “double-digit” growth and while the tourism sector had recovered by almost 70% compared to the pre-pandemic year of 2019,…
No consent of the Russian Federation is required to make them pay reparations to Ukraine. It is possible to reimburse Ukrainian losses after the war at the expense of seized Russian assets. This was announced by the Chairman of the Verkhovna Rada, Ruslan Stefanchuk. He said that the government was currently doing a lot of…
SEB has revised its forecast for Lithuania’s GDP growth in 2022 up to 0.9% from 0.1% in late March, and has raised its projection for 2023 to 1.8%. SEB Lithuania’s economist Tadas Povilauskas says that the upward revision reflects expectations of a less sharp economic downturn in the second quarter, as well as a positive…
On May 12, Latvian Saeima passed in the second and final reading urgent amendments to the Law on Assistance to Ukrainian Civilians. Amendments are intended to provide aid to persons in Latvia who voluntarily provide accommodation to Ukrainian refugees. It is planned to provide private persons with the right to receive benefits to compensate additional…
Average monthly gross income rose by EUR 92 (+6.7%), to EUR 1,475 per employee in 2021, state agency Statistics Estonia reported. Gross income also continued to rise as 2021 progressed. Statistics Estonia analyst Greta Tischler noted that the highest average income was once again earned in municipalities of Harju County, principally those which made up…
Ukraine has been forced to spend UAH 245.1 billion ($8.3 billion) on its war with Russia instead of development, Finance Minister Serhiy Marchenko has told Reuters in exclusive written comments. The figure, which has not been disclosed by Ukraine’s government before, lays bare the economic maelstrom that Ukraine is navigating, the report said. According to…
Ukraine’s physical and economic losses as a result of the ongoing war unleashed by Russia are believed to start at $90 billion. Ukraine’s infrastructure and real estate have been hit hardest by Russia’s invasion, with at least $64 billion worth of damage. That’s according to Forbes, referring to the National Bank of Ukraine. “According to…