International Internet Magazine. Baltic States news & analytics
Tuesday, 24.01.2017, 19:22
he loan and lease portfolio of Estonian companies and households grew quickly in 2016 and increased by 7%. The deposits of companies and households in banks grew by a rapid 9%. The profitability of the banking sector declined as service fee income was down and provisions were increased.
Keyword tags: Banks, Direct Speech, Economics, Estonia, Financial Services
The new term "retirement economy", as no other one, characterises realities not only of the modern labour market, but also of the world economy. The adverse demographic situation in the Baltic States allow speaking about the inability of the present retirement system for future pensioners. Besides low birth rate it is necessary to mention substantial out-migration of able-bodied population to other countries with good working opportunities. The adverse demographic situation and labour migration are the basis of pessimism and non-confidence of the population, especially of the youth, in the state retirement system.
Improvement of business environment and attraction of investments among top priorities of combating shadow economy in Latvia19.01.2017
The American Chamber of Commerce (AmCham) together with Stockholm School of Economics in Riga held a seminar in the AmCham Outlook series to discuss the shadow economy and its impact on Latvia’s business environment on January 18 at the Stockholm School of Economics in Riga, AmCham representatives informs BC.
British Prime Minister Theresa May on Tuesday said Britain will leave the EU's single market in order to restrict immigration in a clean break from the bloc, but lawmakers can vote on the final deal, reports LETA.
The revenue of Estonia's three biggest sharing economy sectors was 40.3 million euros in 2016, results of a study commissioned by Ministry of Economic Affairs and Communications (MKM) and carried out by Technopolis Group Eesti OU and Ernst & Young Baltic AS show LETA/BNS.
This time, the economic analysts were unanimous in their assessment that inflation would rise, but the actual data still exceeded the forecast; and it was the result of supply side factors. In December, consumer prices rose 0.6% month-on-month and 2.2% year-on-year. This ended the four-year period of very low (close to zero) inflation.
In view of the economic development in 2016 so far, Latvijas Banka has revised downwards its GDP growth forecast for 2016 from 1.4% to 1.0%, while that for 2017 remains unchanged at 3.0%.