COVID-19 and Trump’s indifference helped human rights abusers in 2020
Belarusian government sees $2bn of withdrawals, issues $580mn worth of bonds in 2020
Lukashenko: I am no enemy of the people
Storming parliaments: New Europe's greatest hits
One of Russia’s biggest wood product companies, Segezha could be Sistema’s next IPO
The volume of the Russian National Wealth Fund tops $183.93bn as gold overtakes dollar asset for first time
EU to begin certifying Russian Sputnik V vaccine for use in Europe
New Ukrainian VC firm QPDigital aims to invest up to $100 million in digital startups
EBRD investments reach record €11bn in pandemic-struck 2020
FPRI BMB Ukraine: Most Ukrainians are optimistic about 2021 – poll
OUTLOOK 2021 Lithuania
EBRD says loan to Estonia’s controversial Porto Franco project was never disbursed
Estonian premier quits after Tallinn development scandal
Top Centre Party official suspected of corruption in Tallinn real estate scandal
Czech Pirates and Mayors approve final coalition agreement for 2021 elections
OUTLOOK 2021 Czechia
BRICKS & MORTAR: Rosier future beckons for CEE retailers after year of change and disruption
Romanian tech entrepreneurs expand into banking sector
OUTLOOK 2021 Hungary
Hungarian government remains silent after Capitol riots
World Bank expects modest recovery for Europe and Central Asia in 2021
FDI inflows to CEE down 58% in 1H20 but rebound expected
OUTLOOK 2021 Slovakia
Slovakia to invest €1.2bn in digitisation
BALKAN BLOG: The controversial recipe for building up Albania
Heavy flooding causes chaos in parts of Southeast Europe
Vodafone Albania plans €100mn infrastructure investments after AbCom merger
OUTLOOK 2021 Albania
Kyiv accuses Bosnian President Dodik of lying about icon gifted to Russian foreign minister
Bosnia’s real GDP contracts 6.3% y/y in 3Q20
Sofia-based LAUNCHub Ventures holds first close of new fund on €44mn
ING THINK: Growth in the Balkans: from zero to hero again?
OUTLOOK 2020 Bulgaria
Labour demand down 28% y/y in Croatia in 2020
Zagreb Stock Exchange's Crobex10 index at highest level since March 5
OUTLOOK 2021 Kosovo
Arrera Automobili aims to launch Albania’s first supercar
World Bank revises projection for Moldova’s 2020 GDP decline to 7.2%
Moldova’s PM resigns to prepare the ground for early elections
Socialist lawmakers in Moldova scrap settlement on $1bn bank frauds
Montenegro’s new ruling coalition carves up top state jobs
OUTLOOK 2021 Montenegro
Vast tide of floating waste threatens Balkan hydropower plants
North Macedonia's manufacturing confidence indicator down by 8.5 pp y/y in December
OUTLOOK 2021 North Macedonia
Transparency International warns of high corruption risk in CEE defence sectors
Moldova fears flooding from Ukraine's planned Dniester hydropower plants
Romania’s industrial recovery paused in November
OUTLOOK 2021 Serbia
Slovenia’s opposition files no-confidence motion against Jansa cabinet
UK Moneyhub picks Slovenia for post-Brexit European base
Slovenia’s dire COVID-19 situation in 4Q20 caused second economic dip
Slovenia’s Eligma completes €4mn funding round
BEYOND THE BOSPORUS: Let’s tentatively pencil in a date for Turkey’s hot money outflow
Turkish opposition leader lawsuit demands one lira from Erdogan, police probe “bald” interior minister posts
OUTLOOK 2021 Armenia
Armenia’s PM cautions conflict with Azerbaijan “still not settled” after trilateral meeting with Putin
COMMENT: Record high debt levels will slow post-coronavirus recovery, threaten some countries' financial stability, says IIF
Russia, Kazakhstan pushing for oil production increases on the back of coronavirus vaccine-fuelled oil price optimism
OUTLOOK 2021 Georgia
Georgia’s political kingpin Bidzina Ivanishvili quits politics
Modern-day “Robin Hood” inspires Georgians drowning in debt
Iran’s navy conducts missile drill while analyst argues Trump even capable of nuclear strike in final days
TEHRAN BLOG: Who’s more credible? Johnson backing Trump’s Nobel chances or Iran applauding arrest warrant for US president?
STOLYPIN: Scope for limited progress under Biden, so long as the past remains the past
Central Asia vaccination plans underwhelm, but governments look unruffled
Fears of authoritarianism as Kyrgyz populist wins landslide and backing for ‘Khanstitution’
OUTLOOK 2021 Kyrgyzstan
Mongolia's winter dzud set to be one of most extreme on record says Red Cross
Mongolian coal exports to China paralysed as Beijing demands virus testing of truck drivers
Mongolia fears economic damage as country faces up to its first local transmissions of coronavirus
Mongolia in lockdown after suffering first local coronavirus transmissions
OUTLOOK 2021 Tajikistan
China business briefing: Not happy with Kyrgyzstan
OUTLOOK 2021 Turkmenistan
Turkmenistan: How the Grinch stole New Year
Turkmenistan: The dammed united
COMMENT: Uzbekistan is being transformed, but where are the democratic reforms?
OUTLOOK 2021 Uzbekistan
Uzbekistan’s Makro positions itself for growth in a more competitive market
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The economies of Estonia, Latvia, and Lithuania, all of which are small and vulnerable to shocks, are launching relief and stimulus programmes to avert the worst impacts of the coronavirus outbreak steamrolling through Europe.
The pandemic is expected to push Baltic GDP growth below zero this year, an effect of choked domestic demand and spillovers from abroad. According to a forecast by Swedbank – released in the early stages of the pandemic on March 11 – a likely scenario for the Baltic states will see their economic growth decline to 1.2% in Latvia, 1.4% in Estonia, and 1.6% in Lithuania.
Latvia has since said the impact would be far worse. The country’s economy ministry said today GDP would contract 1.2% in 2020 – or more if the crisis is prolonged.
Riga has said it will cover 75% of the costs of outbreak-induced sick leaves or workers’ downtime, or up to €700 per month. Latvia will also allow postponement of tax overdues for up to three years if the overdues are an effect of the outbreak.
Latvia will also simplify and speed up tax refunds for entrepreneurs and forego personal income tax advances in 2020. The government did not say what the value of the support measures will be.
Estonia, in turn, is rolling out a €2bn support programme – equal to 7% of the country’s GDP – including loans securitisation, sick leave compensation, and suspension of payments into the pension system.
Tallinn expects the Estonian economy might go into recession in 2020, although that is not an official forecast but speculation in the local media by Finance Minister Martin Helme.
The Lithuanian government unveiled a €5bn – equivalent to 10% of GDP – support plan earlier this week, consisting of €500mn for health and public security systems, €500mn for jobs and personal income protection, as well as €500mn for maintaining business liquidity.
€1bn will go to speeding up investment while the Bank of Lithuania is kick-starting measures like reduction of capital adequacy requirements for credit institutions worth €2.5bn.
Lithuanian lawmakers also voted on March 17 to raise the government’s borrowing limit from €900mn to €5.4bn.
The measure comes in response to the government’s analysis, which said the country’s tax revenues will fall €4.2bn short – or 20% – of the budget plans.
Vilnius expects the economy to contract 1.3%-2.8% in 2020 in the wake of the coronavirus pandemic.
On March 19, Latvia had 86 coronavirus cases, Estonia 267 and Lithuania 47.
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