On January 26, Riga City Council adopted the municipality’s new budget, outlining three priorities – social aid, wages and transport infrastructure. The meeting during which the city council reviewed the 2022 budget lasted for more than seven hours. More than five hours were spent discussing the municipal budget. Riga’s budget revenue is planned at EUR…
Commercial banks in Georgia loaned 43.03 billion GEL and received deposits of 37.16 billion GEL in December 2021, the National Bank of Georgia (NBG) said. The volume of loans increased by 1.63 billion GEL (+3.93%) YoY. The number of deposits increased by 1.42 billion GEL (+3.96%) MoM. In December 2021, the sum of term deposits…
Lithuania reported inflation of 11% at the end of last year. However, the peak is yet to come, as prices are expected to increase further in February, according to the SEB bank economist Tadas Povilauskas. In 2021, the average annual inflation was 4.5%. This year, it should reach 7.2%, decreasing to 1.8% in 2023, SEB…
Ukraine is implementing 25 public sector projects worth EUR 5.2 billion in cooperation with the European Investment Bank (EIB), according to the press service of the Finance Ministry. “Currently, the EIB’s project portfolio in the public sector includes 25 projects worth EUR 5.2 billion, three more projects worth EUR 570 million are at the stage…
Continued escalation without military invasion is also part of Russia’s scenario, which has a strong impact on the Ukrainian economy and stability of the banking sector. This was stated by Deputy Prime Minister for European and Euro-Atlantic Integration, Olha Stefanishyna, who spoke on the sidelines of an international symposium dedicated to the Babyn Yar tragedy.…
Between October and December 2021 the amount of money owed by clients of Riga municipality’s JSC Rigas siltums for the heating energy supplied this season was slightly above EUR 15 million. Payments collected accounted for 82% of all issued heating service receipts, as reported by Rigas siltums representative Linda Rence. She said clients’ payment discipline…
The Belarusian state-owned potash manufacturer Belaruskali says it intends to demand damage compensation from Lithuanian Railways (LTG), which is terminating transportation contract on February 1. The Lithuanian government has terminated the contract on transporting Belarusian fertilizers across the country, quoting national security. Belaruskali has been under US sanctions since December 2021. LTG has confirmed that…