Uzbekistan plans to start a large-scale liberalization of its exchange rate policy in 2017 in accordance with the draft decree of the Uzbek president. The draft decree was developed by the Central Bank and was promulgated for discussion on the Uzbek single portal of interactive state services. One of the main lines of the new…
The division of the State Fiscal Service fighting capital outflow via transfer pricing should be expanded and reinforced, Finance Minister Oleksandr Danyliuk has said. “This is one of the spheres where the State Fiscal Service should work more. Instead of developing this sphere they reduced the transfer pricing division. I want the division expanded and…
Industrial recession in Belarus is over, Vice Prime Minister Vladimir Semashko said. “I am happy that we have survived through the crisis. I can see that the recession is over. Today the Industry Ministry is posting a 3% growth. We plan to reach the growth of 11.3% next year”, Vladimir Semashko noted. “The machine-building industry…
In view of recommendations of the International Monetary Fund (IMF) Belarus is considering ways to introduce the International Financial Reporting Standards (IFRS) at major state-run enterprises. The statement was made by Belarusian Deputy Finance Minister Dmitry Kiyko. The law requires a number of Belarusian enterprises to present annual consolidated reports in accordance with the International…
The Organization for Economic Co-operation and Development (OECD) has revised the real world GDP growth for 2017 by 0.1% as compared to September estimations to 3.3%, according to OECD November Global Economic Outlook. The forecasts for 2016 were kept at 2.9%. In 2015 the world real GDP growth totaled 3.1%. The world GDP growth is…
As of October 1, the volume of Azerbaijan’s foreign state debt amounted to $7.651 billion (12.403 billion manats), that is, 20.1% of the country’s GDP, Azerbaijan’s Finance Ministry said in a message. The statistics on borrowings includes Azerbaijan’s direct obligations and contingent obligations on the loans, drawn under state guarantee. As of October 1, the…
The issues of strengthening cooperation in politics, economy and culture have been discussed during the meeting with the Austrian Ambassador to Turkmenistan Gerhard Sailler in Ashgabat, the Turkmen Foreign Ministry said in a message. “The issues on cooperation within international organizations, primarily the UN, EU and OSCE, were highlighted among the priority areas of cooperation”,…