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,…
The Cabinet of Ministers of Ukraine has decided to allocate additional funds in the amount of UAH 175.27 million to overcome the consequences of the June flood in western regions of Ukraine, according to the press service of the Economy Ministry. The Government allocated UAH 175.268 million from the reserve fund of the state budget…
Compared to August 2019, total retail trade turnover rose by 4.4% in August 2020. Turnover of retail trade in food products grew by 4.1%. Retail trade in non-food products (except for retail sale of automotive fuel) increased by 2%, while turnover of retail sale of automotive fuel – by 11.3%, according to data from the…
The government on September 29 agreed on the state budget for 2021 with expenditures amounting to approximately EUR 13 billion and revenues at over EUR 11 billion. Funding for research will increase to 1% of GDP and pensions will rise. Prime Minister Juri Ratas (Center) said the purpose of the budget was to accelerate economic…