Keyword: economy

Baltic Team

IEŚ Commentaries 467
- Baltic Team

The European Commission counters development of the oil shale sector in Estonia

For years, oil shale, with its similarity to coal, has played a key role in Estonia’s energy system. Currently, oil shale is burned for heat and power generation, or used (after processing) to produce liquid fuels (mainly marine fuel). To combat global climate change and environmental degradation processes, European Commission has prepared a new legislative package (Fit for 55),...

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Baltic Team

IEŚ Commentaries 458
- Baltic Team

Orlen Lietuva: new refinery installations crucial to improve efficiency

Mažeikiai refinery in Lithuania, owned by ORLEN Lietuva (a PKN ORLEN S.A. subsidiary), is the only plant of its kind operating in the Baltic States. Oil products are exported both to neighbouring countries and to international markets through oil terminals at the Baltic Sea. Due to the tough market conditions, logistical problems, and the Lithuanian climate policy, the plant...

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Baltic Team

IEŚ Commentaries 440

Exit of the dragon. Lithuania – China diplomatic dispute

September 14 marks 30 years since the establishment of relations between Lithuania and China. On the eve of the upcoming anniversary, the relationship between the two countries has been enflamed. Chinese authorities warn that “there is only one China in the world,” and they recalled China’s ambassador in Vilnius, which they have never done before in relation to a European...

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Baltic Team

Komentarze IEŚ 434
- Baltic Team

Winter is coming. Central European countries and their preparations for the increased natural gas demand

In Central European countries (as in other parts of the continent), the level of natural gas stored in underground gas storage (UGS) facilities before the coming autumn-winter period is low. This situation is a consequence of the limited availability of this commodity. Market conditions are not very favourable, and if such a situation continues in coming months, problems with the...

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Baltic Team

IEŚ Commentaries 345

When food is scarce – Poverty in Central Europe

The picture of Central European poverty is clearly differentiated. In the Czech Republic, the rate of people at risk of poverty or social exclusion is the lowest in the entire European Union, while in Bulgaria – the highest. In total, 22 million citizens of the “new” EU countries were affected by this problem before the COVID-19 pandemic. The forecasts indicate...

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Balkan Team

IEŚ Commentaries 334
- Balkan Team

2030 National Development Strategy of the Republic of Croatia. Deepening integration with the EU

On February 5, 2021, the Croatian Parliament adopted the 2030 National Development Strategy for the Republic of Croatia. The strategy was adopted after many years of waiting for a document that would indicate the strategic directions of Croatia‘s development in the medium and long term. It contains only general points of reference without giving any specific solutions. Its...

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Visegrad Team

IEŚ Commentaries 311
- Visegrad Team

The automotive industry in Slovakia has overshadowed by the COVID-19 Pandemic

The automotive industry is a key industrial sector in Slovakia. It is also the main source of direct foreign investment in the country. The situation in the automotive industry during the first wave of the COVID-19 pandemic, when automotive manufacturers suspended car production, had a significant impact on the Slovak economy. On the other hand, the lockdown introduced by the...

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Baltic Team

IEŚ Commentaries 308
- Baltic Team

New restrictions and new (better) economic forecasts in the Baltic States

The increase in COVID-19 infections in the Baltic States in recent weeks has resulted in a number of restrictions, but the second lockdown will not affect the economies of the Baltic States as anticipated. Forecasts indicated that the recession in 2020 in Lithuania and Estonia would be one of the lowest in Europe. However, the most recent restrictions – such as the ban on moving...

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Visegrad Team

IEŚ Commentaries 273
- Visegrad Team

The impact of COVID-19 on the fiscal policies of the Central European countries

Within six months of the announcement of the COVID-19 pandemic, the Central European countries spent nearly 10% of GDP on fiscal support. This decisive response by governments is mitigating the effects of the economic crisis, saving companies and preserving jobs. However, an increase in expenditure with lower budgetary revenues inevitably leads to a deterioration in the...

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