Minister of Rural Affairs Arvo Aller (EKRE) says that Estonia requires a small amount of foreign labor, but that the workforce in the sector could be boosted from among Estonians themselves, during the current coronavirus pandemic and its economic fallout. Aller noted that in the current situation, where unemployment was rising at a rate of…
A gradual economic recovery in Ukraine is expected in the second half of 2020, but economic activity will remain lower than before the crisis and real GDP may drop by 5.9% this year, Ukraine’s Institute for Economic Research and Policy Consulting has said in a survey for April entitled “Ukraine’s Macroeconomic Forecast – Corona Crisis”.…
Lithuania is borrowing 1.5 billion euros from international financial institutions and using the money to ensure the liquidity of the state treasury. The European Investment Bank (EIB) will extend a loan of 700 million euros, while the Nordic Investment Bank (NIB) and the Council of Europe Development Bank (CEB) will lend 400 million euros each.…
The number of vacancies in the Ukrainian labor market has decreased by 34% over the past two week of quarantine, the National Bank of Ukraine (NBU) has reported this in its weekly economic review. According to the report, during the second week of quarantine, the number of new vacancies continued to decline, although at a…
Almost half of Ukrainians entrepreneurs (48%) of micro-, small- and medium-sized businesses surveyed by the Union of Ukrainian Entrepreneurs (UUE) consider it necessary to ease restrictive measures after the end of the coronavirus quarantine set in Ukraine until April 24. At the same time, 33% of respondents believe that it will be better to find…
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…