Direct Speech

International Internet Magazine. Baltic States news & analytics Saturday, 21.01.2017, 19:21

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EU-Russia relations: from strategic partnership to strategic challenge

EU-Russia relations: from strategic partnership to strategic challenge


For a number of years, the EU and Russia had assumed the existence of a strategic partnership, based on the con vergence of values, economic integration and increasingly open markets and a modernisation agenda for society. Our agenda was positive and ambitious.

Keyword tags: Analytics, Cooperation, Direct Speech, EU – CIS, Russia, Society

Inflation rises faster than expected

Inflation rises faster than expected


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.

The year 2017 in the corporate communication field: putting things in order, analysing and pushing the boundaries

The year 2017 in the corporate communication field: putting things in order, analysing and pushing the boundaries


2016 Year was an exciting and eventful for the communications sphere. Some earlier started processes must now enter a stage of maturity. Here is a number of important trends in the corporate communication field which, in my opinion, will develop in 2017.

The future we want for the Baltic Sea region

The future we want for the Baltic Sea region


Looking into the future brings up a question on whether the Baltic Sea region will be passive and affected by future developments or will it proactively shape its own future. A proactive line is one of cooperation at all levels and across sectors involving a multi-stakeholder approach. It means increased accountability by governments and regional bodies, but also other players. It means political commitment that turns into tangible action.

Inflation was at its fastest of the past three years in December

Inflation was at its fastest of the past three years in December


Inflation was affected most in December by fuel, seasonal goods and air tickets. Average inflation in 2016 was close to 0%. Inflation will rise to around 3% in 2017.


In November, good results in manufacturing, outstanding in the energy sector

According to the information published by the Central Statistical Bureau, the amount of manufacturing industry production in November of 2016 increased by 1.9% month-on-month (seasonal effect excluded) and 9.1% year-on-year.


Stable growth in both loans and deposits in November

A moderate increase in banks' balance sheets was observed both in terms of loans granted and deposits attracted. The loan portfolio of households remained practically the same, but the balance of loans granted to enterprises rose. Deposits with banks were increased by households and nonfinancial enterprises but decreased by financial institutions, particularly pension funds.


President-elect Shavkat Mirziyoyev assumed office

On 14 December 2016 in the joint session of both chambers of the Oliy Majlis (Parliament) of the Republic of Uzbekistan the new elected President Shavkat Mirziyoyev delivered an inaugural speech at the solemn ceremony.


Standing by Ukraine

It is now three years since hundreds of thousands of Ukrainians gathered on Independence Square in Kiev to demand a better future for their country. As they did so, they looked towards the European Union to support them on their path back to stable democracy and lasting prosperity. As President of the European Commission, I have made it one of my top priorities to repay that faith.


There are stumbling blocks for Latvian export, but it continues on its way

In October 2016, the foreign trade turnover increased by 4.1% month-on-month. In the course of a month, the goods export and import values have grown by respectively 1.9% and 6.1%. Year-on-year, goods exports have dropped by 3.5%, whereas imports have practically remained the same – there is a mere 0.4% increase.


The Estonian current account remains in surplus

The current account surplus diminished in the first half of the year, but in the third quarter it was again bigger than at the same time last year. One cause of the increase in the surplus was the broad-based acceleration in growth in exports of goods and services. At the same time, preliminary estimates show investment to have been less in the third quarter than at the same time a year ago, which held back growth in imports.


Wage rise continues to stall, yet this has a bright side

The rise in wages continues to stall. The average wage for full-time work in the third quarter of 2016 was by only 2.2% higher than a year ago, which is the slowest growth rate in the last six years. Even though there is no doubt about a slower wage rise this year, other statistical data sources (State Revenue Service and national account data) do not have such pronounced slowdown. Thus there is no reason for alarm and the view that the rise in average wage has come to a sudden stop in the past few months. Next year, we are likely to return to a moderate 3-5% year-on-year wage rise – such a rate of growth was the case in 2011-2013.

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