Ukrainian Prime Minister Oleksiy Honcharuk says his government’s goal is to drastically reduce the share of the shadow economy in the near-term outlook. “The share of the shadow economy for me personally is a measure of the effectiveness of our work,” he said. “Now, according to various estimates, it makes almost half of the entire…
A recent Organisation for Economic Co-operation and Development (OECD) survey found Estonia’s economy continued to perform well, however, there were problems arising from income inequality, the private sector’s lack of technical adaptability, and the low productivity and carbon intensity of the energy sector. The report pointed out positively Estonia’s expertise in IT and digitized government…
The Ukrainian government and the National Bank of Ukraine jointly face foreign currency debt payments in excess of $24 billion in 2020-2022, including interest. The NBU report on financial stability says most of this amount will need to be refinanced in foreign markets, therefore cooperation with the International Monetary Fund and other international financial organizations…
Ukraine’s tax expert Andriy Hmyrin says all experts, assessing the volumes of smuggling at customs, agree that the national budget has at least $10 billion (about UAH 250-UAH 300 billion) in annual losses. “When calculating the volume of smuggling, various experts come up with different figures. But they all agree that it is at least…
An investigation by newspaper Postimees reveals that Estonia’s economic growth is being built at the expense of third-country migrants who often face mistreatment at the hands of bosses and companies. The daily reported it had found over 1,000 online job adverts targeting workers in Ukraine from EUR 4 hourly-paid jobs in Estonia and advertising working…
Estonia’s industrial production in October was smaller by 3.9% than in October 2018, which represented one of the highest rates of decline among EU member states during this time frame. In October industrial production decreased by 2.2% in the euro area and by 1.7% in the EU28, figures made available by Eurostat showed. Among member…
The average wage in Ukraine in October made up over UAH 9,500, the Pension Fund of Ukraine reported. “The average wage rate for October was approved, from which insurance contributions were paid and which was taken into consideration for pension accounting in accordance with the Law of Ukraine “On Compulsory State Pension Insurance”,” the report…