The Ukrainian government has presented a strategy of economic development for the next five years, which assumes rapid GDP growth. However, if this plan is successfully implemented, then a significant part of state revenues will go to foreign creditors, as a kind of “penalty for development”.
In the middle of October 2019, Velvon Bank, the sister company of the Czech online bank Air Bank, announced that it had been granted a German banking license. Velvon chose Munich as the seat for its German operations.
Serbia lacks investment from domestic businesses, and fixed assets are insufficient to provide stable, long-term growth. Growth in gross fixed capital formation in the H1’19 was 8.2 per cent, which was the main demand factor in stimulating the growth of GDP.
Bosnia and Herzegovina changes its 13 years old VAT regulations. Due to the complex political system of BiH, all the important regulations had to be discussed in parliaments of both entities: the parliament of the Federation of BiH and the parliament of the Republic of Srpska.
FDI were perceived as exploiters and poisoners, but investors have developed their policies in the social responsibility of business to fight this perception, and they partly succeeded, said prof. Beata Javorcik.
In spite of Russia’s stagnating economy, let alone the highly unfavorable political climate between the Russian Federation and Europe, the volume of Russian-German trade in 2018 increased by nearly 9 per cent, reaching almost EUR62bn.