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,…
In October, compared to October 2019, the average level of producer prices in Latvian industry fell by 1.3%. Prices of products sold on the domestic market have fallen by 3%, but prices of exported products have grown by 0.2%. Prices of products exported to euro area countries rose by 0.4% and prices of products exported…
Throughout the past week, the National Bank of Kyrgyzstan has been conducting interventions selling dollars. The National Bank sold $21.4 million on November 16. The next day, the bank again entered the foreign exchange market with an intervention of $500,000. On November 18, the National Bank of the Kyrgyz Republic sold $1.3 million. On November…
A telephone conversation took place between the acting Prime Minister of Kyrgyzstan Artem Novikov and the Deputy Prime Minister of Uzbekistan Sardor Umurzakov. Artem Novikov thanked for the humanitarian assistance provided by the Government of Uzbekistan as part of measures to counter the spread of coronavirus infection. During the conversation, the parties discussed issues of…