The Georgian economy is projected to contract by 6% in 2020, while in 2021 economic growth is forecast to reach 4%, says the latest edition of the World Bank’s Economic Update for the region. “In Georgia, the sharp contraction of economic output is showing signs of easing on the back of fiscal support, sustained credit…
The change of the consumer price index in September was -0.3% compared to August and -1.1% compared to September 2019, data from Statistics Estonia showed. Year on year, goods were 0.7% and services 1.7% cheaper. Leading analyst at Statistics Estonia Viktoria Trasanov said compared to September 2019, the consumer price index was affected the most…
The European Investment Bank (EIB) will provide a EUR 30-million loan to JSC Ukrposhta, Ukraine’s national postal operator, to continue the modernization and digitalization of the country’s postal services. The loan will allow Ukrposhta to start modernizing its logistics network with three new sorting hubs, 20 postal depots and IT infrastructure. The loan agreement was…
The Riigikogu’s finance select committee will discuss the newly presented state budget for 2021 with ministers to clear up uncertainties and goals in each ministry’s areas of governance. Riigikogu finance committee head Aivar Kokk (Isamaa) explained the state budget was activity-based for ministry’s areas of governance for the second year, as Estonia changed to a…
It will take two years for Latvia’s economy to recover, said the newly elected member of the council of the Bank of Latvia Andris Vilks on October 5. “We should have had a V-type development. This means a relatively deep and quick fall and a very fast recovery. It would have happened, but what we…
The Estonian Association of Travel Agents has turned to the justice chancellor and is considering going to court in connection with a Ministry of Economic Affairs and Communications decision to ban direct flights to third countries. Minister Taavi Aas (Center) said that decisions were made based on the epidemiological situation. A charter flight to Turkey…
Latvia’s government has decided to support the proposal to keep VAT at 5% for fruits, berries and vegetables until December 31, 2023. At the same time, the government also decided to outline achievable indexes for results, Finance Ministry reported. This is support measure is intended to promote agriculture and gardening sectors’ development, reduce grey economy,…