Overnight into December 21, the Verkhovna Rada (Parliament) passed the state budget for 2017. Fiscal revenues for 2017 are envisaged at 721.4 billion UAH and expenditures at 790.4 billion UAH. The budget deficit was set at 77.5 billion UAH. The following macroeconomic indicators are proposed for 2017: GDP growth at 3-4%; inflation at 8.1%; forecast…
As the year comes closer to its end, residents become more and more positive. Compared with October, residents’ overall prediction for the future has improved by three points. Optimistic changes are also noted in general expectations, which have improved by two points. Last month residents’ criticisms were fairly rough on nearly all positions. The biggest…
Support of agriculture from the 2017 national budget would be around 5.5 billion UAH, Ukraine’s Agricultural Policy and Food Ministry has reported. “Now farmers will receive subsidies in the amount of 1% of products they make during five years. This is a really historic decision, as Ukraine does not have this model. In 2017 support…
In Q3 Riga was the only Baltic capital where housing affordability had improved in comparison with the same period of 2015. Growth of average net wages and decline of interest rates contributed to the improvement of housing affordability. Affordability in Tallinn has become somewhat worse under influence from higher interest rates. Housing affordability in Vilnius…
Starting from 2017, micro-enterprise tax rate in Latvia will be 15% of turnover. At the same time, the government has decided to cancel the introduction of minimal social insurance fees. This is provided by amendments to Micro-enterprise Tax Law and State Social Insurance Law approved by the Saeima. Micro-enterprise Tax Law was added with a…
Ukraine’s Verkhovna Rada has approved at second reading bill No. 5368 liberalizing the Tax Code. A total of 240 lawmakers backed the document. Head of the parliamentary committee for tax and customs policy Nina Yuzhanina said presenting the bill that the committee received 356 proposals for the second reading and 261 of them were voted…
Ukraine’s Verkhovna Rada has revoked 2% pension tax imposed on cash currency purchase transactions. The requirement is outlined in bill No. 5132 amending the Tax Code to provide for the balance of budget revenue in 2017. The bill on the national budget for 2017 was adopted by 235 lawmakers on December 21. The amendments were…