Ukraine’s Deputy Minister of Economic Development and Trade Maksym Nefyodov has warned potential investors in a number of state-owned enterprises that few are ‘gold mines’ and that potential investors should be prepared to for a long haul.
Poland’s Sunday trading debate continues. In the original draft of new regulations, the Solidarity trade union wanted all shops, with only a few exceptions, to be closed every Sunday. On October 27, however, the Sejm Committee of Social Policy and Family made several amendments to the draft, allowing for trade on the second and fourth Sunday of the month, and the two Sundays before Christmas. The draft law now needs to be discussed further.
The Visegrad Group (Czech Republic, Hungary, Poland and Slovakia; V4) is looking forward to improving cooperation with the countries of Central Asia. Sharing a similar historical background and strategic position, torn between the East and the West, Central Asia has much to learn from CEE.
The Czech passport is the most powerful of those issued by the 23 countries of emerging Europe. According to the most recent Passport Index, it is ranked eighth globally and allows its holders to travel visa-free to 152 countries around the world. The Hungarian passport is the second most powerful in the region, the only difference to the Czech equivalent being its failure to offer visa-free travel to Lesotho.
In a welcome boost for Romania’s burgeoning IT outsourcing sector, the American tech giant GoPro – best known for its action cameras – announced on October 27 that it would be expanding its presence in Romania. GoPro will be moving to larger premises in Timpuri Noi Square, a new development a short distance from the centre of the Romanian capital Bucharest.
Can Bulgaria be considered a new frontier for real estate investors? Yes, according to the latest investments.
Ukraine has a 13 billion US dollar shortage in tax revenues, the country’s Ministry of Finance says. In 2016 the country collected 26.5 billion US dollars in taxes, much less than it should have done. According to the ministry, fiscal reform is needed to make the current system more transparent, corruption-free and more efficient.
As many as 21 per cent of Poles do not know the main source of funding for the current government’s flagship 500 Plus family benefit programme, and only 38 per cent are aware the funds come from their taxes. The figures were published following research carried out by ciekaweliczby.pl. Even more noteworthy is the fact that as many as 40 per cent of respondents are certain the programme is funded from taxes paid by “other people,” businesses, or the government’s own funds.
The Baltic States are waging a war against unhealthy eating and drinking habits, and the Estonian government has been active on a number of fronts. First it raised excise duty on alcohol, and then quickly pushed forward legislation aiming to reduce sugar in food and beverages, duly passed by the Estonian parliament, the Riigikogu, in June 2017. The law introduced taxes on all sweetened drinks containing more than 5 grams of sugar per 100 milliitres.
Romania’s Prime Minister Mihai Tudose said on October 25 that the country’s budget deficit for 2017 was “under 3 per cent” and would “remain under 3 per cent.” His comments came a day after Eurostat published its own figures for the second quarter of 2017, which show that Romania is running by far the biggest budget deficit in the EU, at 4.1 per cent. The UK — whose economy is wracked with uncertainty regarding Brexit — is a distant second, with a deficit of 3.4 per cent. Continue reading Romania’s Budget Deficit ‘Should Start Alarm Bells Ringing’
With an unemployment rate of 7.5 per cent in August, Lithuania is facing a shortage of qualified workers. There are over 9,000 vacancies across the country and more than 70 per cent of employees claim finding workers is a challenge. Trying to solve the problem, Invest Lithuania, the country’s investment promotion agency, joined by over 30 foreign companies, has founded Work in Lithuania, a programme inviting emigrants back to the country. Continue reading Lithuania Wants to Bring Home its Skilled Workers
Central European Media (CME), which owns and operates a number of television stations across emerging Europe, including TV Nova in the Czech Republic, bTV in Bulgaria and Pro TV in Romania, has announced a big increase in revenue for the third quarter of 2017.