When an emerging economy starts a conscious journey towards international financial markets, in order to attract foreign investments, there are several systemic and important points to consider, especially nowadays in the modern competitive and tumultuous world. Continue reading The Proof of a Country’s Readiness to Attract Foreign Investors Lies in the Development of the Insurance Market
This has been a rough year for the countries of Central and Eastern Europe in terms of governance, with neighbours Poland and Ukraine seeing the biggest challenges. Continue reading History as Destiny? Institutional Erosion in Ukraine and Poland
With street names like Komsomolskaya, Karl Marx and Lenin, it is easy to portray Belarus as a remnant of the Soviet Union. The truth is more interesting, like a painting by Marc Chagall, one of Belarus’ illustrious sons. Continue reading Belarus and the EBRD:
Working to Expand the Country’s Strengths and Success
The longevity of Belarus’ president, Aleksander Lukashenko, owes as much to the structure of the country’s economy as it does to his sharp and often criticised leadership skills, which have resulted in a narrowing of the political space and the suppression of opposition. Continue reading Winds of Change for Belarus’ Reinsurance Industry?
“Republika Srpska (RS) is a state and Russia is its ally”. Milorad Dodik, the president of the predominantly Serb entity within Bosnia and Herzegovina, is not someone known for mincing his words. Continue reading A Bosnian Referendum Shows Russia’s Influence in the Balkans—As Well As Its Limits
Since the current Polish government came into power, last year, they have advocated the need to tighten up the existing tax system. They maintain that the current situation calls for a system that is more efficient and effective and they are looking to find ways to increase the budget’s income without hiking up the tax rates. They have inherited a tax system from the liberal government, which was in power for eight years (between 2007 and 2015), which is in deep crisis — the tax share of the GDP has fallen from 17 per cent to 14 per cent. Continue reading Polish Tax Laws — Fighting a Winning Battle Against Tax Evaders
With an average growth rate of 10 per cent over the last decade and an increasingly affluent population of 1.3 billion people, China is a dream market for many companies, including those based in Central and Eastern Europe. Small and medium firms are excited by the prospects of the Chinese domestic consumption because Chinese consumers are literally hungry for goods from the EU. In the past five years, exports from the EU to China have grown by 9.8 per cent, to €160 billion, while exports from China to the EU have only increased by 1.6 per cent. Continue reading China: A Giant That Is Hard to Crack
It is common knowledge that the German market for IT services is suffering from a severe shortage of IT skills. While the economy is thriving and order books are full across the production and service sectors, there’s a cap on growth in the IT industry – there are simply not enough people to fulfil all the orders. Since the IT industry is characterised by a high intensity of labour, the lack of developers, project managers, quality assurance professionals and consultants is having a severe impact. Continue reading Outsourcing in Germany: Stop Talking at and Start Talking to
On September 11, Belarus is holding a parliamentary election. The EU will need to respond to this vote in a carefully calibrated manner. While the union is presently focused on other priorities, Belarus presents important geostrategic challenges that will test the EU’s ostensibly new European Neighbourhood Policy (ENP) and its global strategy. Continue reading Belarus’s Election Tests the EU’s Global Strategy
The financial crisis has led to plenty of conclusions in Europe. One among the many is that capital markets and their use for the real economy have been far from optimal. If real improvements could be achieved in this this area in the next few years, then growth could be promoted, alternative financing could be offered, the cost of financing could be lowered and access to funding might be improved. In 2015, the European Commission announced the inception of the Capital Markets Union (CMU) which will be a flagship project from the EU. Continue reading The Capital Markets Union: a New Beginning in the European Financial Sector?
In this world nothing can be said to be certain, except death and taxes. Apparently these words, attributed to Benjamin Franklin, cannot be applied to all tax systems. Continue reading Fiscal Policy Predictability in CEE — It’s Time for Change
Belarus is among the world’s top countries when it comes to the ease of starting a business. In the World Bank Group’s Doing Business report of 2016, the country is ranked 12th out of 189 economies. One needs just three days to open a new business in Belarus, which is three times less than the time it took last year. Continue reading Encouraging SME’s Development Will Help Build Belarusian Economy