Uzbek President Shavkat Mirziyoyev has inked a new law aimed at improving the public procurement system. According to the document, from July 5, the relevant corporate customers should publish announcements about the conduct of procurement procedures and information about its results on a special information portal and through the media. The current procedures for carrying…
Georgian Prime Minister Irakli Garibashvili projects the Georgian economy to grow by 7.7% this year, while the nominal gross domestic product (GDP) will amount to 57.2 billion GEL (about $18.13 or EUR 15.27 billion). “When we started opening up the economy and removing regulations four months ago, it created quite positive expectations in business and…
The EU announced new sanctions on Minsk last month, banning the transit of potash fertilizer, oil, and tobacco products. While supporting the sanctions, Lithuania was mindful of the effects on its economy. These may be milder than previously feared. The EU sanctions target Belaruskali, one of the world’s largest potash fertilizer producers. The company uses…
The National Bank of Ukraine (NBU) purchased $26 million on the interbank foreign exchange market last week, according to data provided by the central bank. According to the results of foreign exchange interventions, the National Bank bought $26 million on the interbank foreign exchange market between June 29 and July 2. Since the start of…
In January-June, government borrowings to the general fund of the state budget amounted to UAH 257.8 billion, or 76.6% of the target for this period, the Finance Ministry reported. A total of UAH 211.4 billion was raised from the placement of domestic loan bonds, including UAH 59.7 billion in foreign currency ($1.7 billion and EUR…
Moody’s Investors Service has improved Uzbekistan’s rating outlook to positive from stable, and concurrently affirmed the B1 long-term issuer and senior unsecured ratings and the (P)B1 senior unsecured MTN program ratings. “The outlook change to positive reflects demonstrated improvements to institutional capacity and policy effectiveness that, if continued, will support a higher rating. In Moody’s…
In April, migrants transferred $216.2 million to Kyrgyzstan, up by $1.9 million MoM. The National Bank of Kyrgyzstan presented such data. In four months of this year, migrants transferred $759.1 million to the country, down by $225.2 million. Russia accounts for more than 97% of remittances – $740.89 million. $4.27 million was transferred from other…