Around one-third of industrial enterprises will find themselves in a vulnerable position due to continued growth in labor costs within the coming three years, Raul Kirsimae, head of the industrial companies unit at Swedbank Estonia, said. Swedbank has analyzed the financial data of some 150 industrial companies operating in Estonia to determine the effect of…
Tallinn has reached a critical point with the amount of summer tourists and the introduction of a tourist tax should be seriously considered to support the Old Town’s infrastructure, Deputy Mayor Aivar Riisalu announced on October 23. Riisalu said about 650,000 cruise tourists visited Tallinn this summer, up by 30,000 YoY. This year there were…
The Seimas of Lithuania has rejected a proposed new tax on polluting cars with a majority of several votes and returned the bill to the Ministry of Environment for improvement. Thirty lawmakers voted in favor of accepting the bill for consideration, 36 were against and 34 abstained. The parliament then voted to return the bill…
Deputy Governor of the National Bank of Ukraine (NBU) Dmytro Sologub says the country’s public debt at the end of 2019 will be below 55% of GDP due to the strengthening of Ukraine’s national currency, the hryvnia, while earlier this ratio exceeded 80%. Sologub added a strong hryvnia partially reduced budget revenue, according to the…
The Baku Stock Exchange (BSE) will hold an auction on the placement of short-term bonds of the Azerbaijani Finance Ministry worth 25 million manat ($14.736 million) on October 15 from 11:00 (GMT +4) until 12:30. Securities, with par value of 100 manat ($58.94) each and a maturity of 364 days, will be placed at the…
In August the foreign trade turnover of Latvia amounted to EUR 2.37 billion, which at current prices was 9.5% less than in August 2018, of which the exports value of goods was 2.1% lower, and imports value of goods – 15.1% lower. In August Latvia exported goods in the amount of EUR 1.1 billion, but…
Bank deposits in the national currency in Ukraine in September grew by 3.1%, to UAH 571.8 billion ($23.1 billion), while deposits in foreign currency shrank by 0.2%, to $15.4 billion in the equivalent. Since the beginning of 2019, bank deposits in hryvnias have increased by 5.9%, while those in foreign currency have grown by 15.6%,…