Lithuania’s economy may shrink by at least 1.2% this year due to the coronavirus, economists from the central bank estimate. This would be an “optimistic” scenario, according to the bank’s chairman Vitas Vasiliauskas. “We believe the economy could contract by 1.2%, meaning that the former baseline scenario changes by almost 4%. But, once again, I…
The National Bank of Ukraine sees no grounds for default on Ukraine’s obligations, says Yakiv Smolii, Governor of the National Bank of Ukraine. “We see no grounds for such developments and don’t consider today the option of default for Ukraine,” Smolii told reporters in Kyiv. (UNIAN/Business World Magazine)
In 2019 the share of households who paid for usual necessary expenses with difficulty or great difficulty constituted 28.6%, down by 7.1% YoY. The share of households making ends meet with some difficulty or fairly easily increased between 2018 (56.8%) and 2019 (62.4%), as had the proportion of households making ends meet easily or very…
In connection with the novel coronavirus outbreak in Estonia, online stores are seeing a significant increase in orders. Barbora, the online store owned by retailer Maxima Group, is also now offering contactless home delivery to its customers in order to combat the spread of the virus. If a customer has chosen contactless delivery at online…
On March 11, H.E. Mr. Berik Aryn, the Ambassador of Kazakhstan to Saudi Arabia, met with H.E. Dr. Khaled bin Sulaiman Alkhudairy, Vice-Chairman and Managing Director of the Saudi Fund for Development (SFD). During the meeting, the parties discussed issues related to the participation of the SFD in the implementation of significant development and infrastructure…
During the development of the 2020 budget for Latvia, parties forming the coalition conceptually agreed on an increase of wages for teachers starting with September 1, as reported by Education and Science Ministry. To discuss Education and Science Ministry’s planned steps towards increasing teachers’ wages, minister Ilga Suplinska and ministry representatives plan to meet with…
The aim of the government’s economic policy to deal with coronavirus should be to prevent a wave of bankruptcies among companies and a rise in unemployment caused by temporary problems, the Bank of Estonia said in a report released on March 12. “The economic policy objective of mitigating the impact of the virus is to…