The Estonian Association of Souvenir Manufacturers and Sellers argues that to ensure the sector’s survival, the support measures applied to the tourism sector must be extended to it, the sector should be compensated for losses caused by the emergency situation and exempted from all taxes until the end of 2021. In a letter to the…
Economic decline in Kyrgyzstan is estimated at 7.5% at year-end, Alexey Kuznetsov, head of the Country Analysis Center of the Eurasian Development Bank, announced during a videoconference. According to him, the economies of Russia, Armenia, Kyrgyzstan and Tajikistan will reach the pre-crisis level only in two years. The exchange rate of som to the U.S.…
Retail trade turnover of retail trade enterprises in Ukraine grew by 7.3% YoY, to UAH 697.98 billion, in January-October, according to the data provided by the State Statistics Service. The largest volumes of retail sales in January-October were recorded in Kyiv city (almost UAH 160.80 billion), Dnipropetrovsk region (UAH 69.83 billion), Kyiv region (UAH 62.76…
On November 23, the 4th virtual session of the Subcommittee on customs cooperation between Kazakhstan and the EU took place. The session focused on the issues of trade facilitation, freedom of transits, introduction of international customs and trade standards, law enforcement, including the fight against drug trafficking and tobacco smuggling. The parties also debated new…
On November 24, Latvia’s Saeima approved amendments to the Value Added Tax Law that provide for simplifying VAT usage and reducing VAT to 5% for fresh fruits, berries and vegetables in the final reading. Finance Ministry previously explained that the goal of amendments was clarifying VAT regulations to simplify application of VAT, reduce administrative burden…
Economy of Kyrgyzstan is expected to shrink by 5.3% at year-end, the acting Prime Minister of Kyrgyzstan Artem Novikov has announced at a meeting of the parliamentary committee on economic and fiscal policy. According to him, the gross domestic product will amount to 583 billion soms. In 2021, the economy is expected to grow by…
A moderate growth in the U.S. dollar exchange rate against the hryvnia is expected this week, according to Vadym Iosub, a senior analyst at Alpari analytical company. Over the past week, the hryvnia exchange rate against the U.S. dollar in all segments of the foreign exchange market has decreased moderately by 0.6-0.9%. Since last Monday,…