In 2020, GDP is expected to decline by about 4% compared to 2019 in Kyrgyzstan, report on the monetary policy of the National Bank of the country says. Excluding enterprises developing Kumtor mine, the GDP drop in 2020 is expected to reach about 5%. According to the forecast, the largest decline could be registered in…
According to an economic growth forecast issued by the Bank of Estonia, the Estonian economy is expected to see a negative economic growth of 10% YoY this year due to the global coronavirus pandemic – but only if new restrictions are not introduced. According to the central bank, the economy will not see pre-crisis levels…
“The volume of gold and forex reserves of Kazakhstan hit its highest since fall 2017,” Deputy Chairman of the National Bank of Kazakhstan Aliya Moldabekova said. The reserves grew in May by $950 million, to $31.5 billion. Gold portfolio decreased slightly despite slight gold price growth from $1,717 to $1,726 per ounce. In May the…
Ukraine is not the only country that has faced rising unemployment. As of June 1, over 510,000 unemployed have been officially registered in Ukraine, according to the State Service. However, the actual number of unemployed in May was about 2.5-2.8 million. Moreover, the number of officially unemployed has doubled since quarantine start. Europe is also…
Experts expect the Georgian lari to continue appreciating at least until the end of the year, if some unexpected event does not occur. This opinion is based on the opening of the economy after the coronavirus breakout. “The Georgian lari has appreciated by 10%, which is rare in the recent history of Georgia. I expect…
Imports fell by 22% YoY in April, with exports falling by 17%, Statistics Estonia reported. The larger fall in imports offset the balance of trade, the agency said. Estonia’s exports of goods amounted to EUR 1.02 billion and imports to EUR 1.09 billion at current prices. The trade deficit stood at EUR 61 million, down…
In January-May, industrial production increased by 4.8% YoY, said Beibut Atamkulov, Minister of Industry and Infrastructure Development, during a Government meeting. “Speaking about the mining sector, the production of non-ferrous ores has increased by 3.3% due to ore production increase at Kazakhmys Corporation LLP, Kazchrome TNC and Aluminum of Kazakhstan JSC. The increase in iron…