The economy of Georgia will recover from the impact of COVID-19 in 2021 with a 4.5% growth after experiencing a substantial slowdown in 2020 due to the pandemic and lower oil prices, reads the Asian Development outlook, a financial publication of the Asian Development Bank (ADB). The ADB projects gross domestic product (GDP) growth to…
A total of 2,059 newly unemployed persons registered with the Estonian Unemployment Insurance Fund (Tootukassa) last week. According to Deputy Secretary General on Labor and Employment Policy Sten Andreas Erlich, the labor market is deteriorating. 40,125 people were registered unemployed in Estonia as of March 29. The number of newly registered unemployed last week was…
The deficit of Ukraine’s foreign trade in goods and services in January and February amounted to $590 million, which was half the figure reported in the same period of 2019. As the National Bank of Ukraine (NBU) said on its website, the deficit of foreign trade in goods over this period decreased by 29%, to…
The Ministry of Economy spoke about economic consequences of coronavirus for Kyrgyzstan. There will be a reduction in external supply and demand, worsening of trade terms with the countries that are the main trading partners of the republic, and a reduction in domestic demand due to a slowdown in economic activity caused by a reduction…
Prime Minister of Ukraine Denys Shmyhal argues that the government is considering options for weakening restrictive measures set up to flatten the curve of coronavirus spread to restart the economy. At the same time, he admitted this would depend on the dynamics of the spread. “We’re very well aware that many people, the majority of…
Georgian gross domestic product (GDP) grew by 2.2% YoY in February, showed the latest data from the National Statistics Office of Georgia (Geostat). In February, the estimated real growth compared to the same period of the previous year occurred in the following sectors: wholesale and retail trade; repair of motor vehicles and motorcycles, information and…
The lifting of restrictions implemented for the duration of the emergency situation will be based not on economic but rather health-based logic, and as there is currently no certainty regarding how the coronavirus will continue to spread, no strategy exists for exiting the standstill either, said Ministry of Economic Affairs and Infrastructure Deputy Secretary General…