in Q4 2023 we have slowly returned to this value because the high base effects we had to deal with in Q1-Q3 are now subsiding again
01.12.2023 11:33
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in Q4 2023 we have slowly returned to this value because the high base effects we had to deal with in Q1-Q3 are now subsiding again
Q1-Q3 2023 was characterised by exceptionally strong base effects (inflation rose very suddenly and very sharply in the previous year), from Q4 2022 (price controls) inflation was pushed down to the "historical normal range" (8-10%)
Early/mid-2022 > high price level > price controls > inflation rate stabilises at the "historic level" of approx. 10% (previous year's figures were relatively stable at between 8-10% throughout the year)
in Q4 2023, we have slowly returned to this level because the high base effects base effects that we had to deal with in Q1-Q3 are now subsiding again
Q1-Q3 2023 was characterised by exceptionally strong base effects (inflation rose
very suddenly and very sharply), from Q4 2022 (price controls) inflation returned to the
inflation was pushed down to the "historical normal range" (8-10%)
Mostly fading base effects.
On the other hand, the IT sector generates significant export revenues. IT service exports accounted for 39% (!) of total service exports in 2022.
#Ukraine
However, this employment stability comes with costs: As subcontracting individual entrepreneurs are subject to tax preferences, the overall tax revenue from the IT sector has been lower in 2022 than its size and activities would otherwise suggest. #Ukraine
#Ukraine's IT sector has developed strongly between 2016 and 2022 and also showed resilience in face of the war. An increasing number of individual entrepreneurs fully covered the loss in regular employment.
#Ukraine #Newsletter
A detailed review of the #Belarusian economy can be found in our Economic Monitor.
www.german-economic-team.com/en/economic-...
On December 4th, #Minsk Forum wil take place in #Berlin. In the economics panel, the impact of sanctions on #Belarus, as well as state and future of the economy will be explored
Reorientation of #export destinations to non-#Western markets can offset the decline in trade with European and other Western partners. However, it also leads to a high dependence on the #Russian market.
#Inflation had been tamed a little during the course of the first half of 2023, however, it will likely accelerate again and be at 7.5% yoy at the end of the current year.
#Belarus
However, this recovery comes with a caveat: Growth is concentrated in traditional, largely low #innovative sectors, whereas future-oriented segments of the economy, such as #ICT, showed an abysmal performance.
#Belarus
#Belarus is showing strong signs of #economic recovery after the deep recession in 2022 in wake of the sanctions.
www.german-economic-team.com/en/newslette...
Out now at the Journal of European Integration:
"EU trade liberalisation, sectoral coalitions and development: insights from Moldova and Georgia" by Julia Langbein (ZOiS), Denis Cenusa, and Irina Guruli.
www.tandfonline.com/doi/full/10....
