Unemployment rate in Georgia remains at 13.9% in 2025, Geostat reports
Georgia’s unemployment rate remained unchanged in 2025 compared to the previous year and stood at 13.9%, Geostat reports. Official statistics show that both employment and the labor force — people actively seeking work — declined last year. Geostat data shows the labor force participation rate decreased by 0.3 percentage points year-on-year to 54.5%, while the […]
Read moreBusiness associations are calling on the Verkhovna Rada to abolish the EUR 150 duty-free threshold for imported parcels.
Business organizations in Ukraine are urging members of parliament to urgently adopt draft law No. 15112-1, which would abolish the value-added tax (VAT) exemption on international parcels valued up to EUR 150. “Abolishing this exemption is a requirement of European integration. The EU abandoned similar rules back in 2021, recognizing them as a source of […]
Read moreFines of up to 100,000 dinars for traders’ violations under new regulations
The National Assembly of Serbia has adopted amendments to the Law on Trade. The new regulations will come into force on 1 May 2026. One of the amendments concerns purchasing points, which for the first time receive a separate regulatory framework. These are defined as a specialised form of wholesale trade intended for the purchase […]
Read moreSevere labor shortage affects Kazakhstan’s SMEs
A joint report by Mastercard and KPMG claims that small and medium-sized enterprises (SMEs) in Kazakhstan have become one of the country’s main sources of employment. Nevertheless, they are facing a severe labor shortage.
According to the report, workforce shortage is one of the most pressing challenges for SMEs. It means that nearly half of businesses report staffing deficits acute. Experts cite the limited supply of qualified specialists and their high cost among the main reasons of the problem.
As the report explains, SME executives complain about the difficulty of finding qualified employees, especially production managers. It often happens that interviewed candidates do not meet requirements. Another problem is that staff lack the motivation for development, even though salaries are high and working conditions are good. It needs an increased number of skilled employees to scale up the business. Meanwhile, limited financial resources and labor shortages constrain it.
Nevertheless, 90% of surveyed business leaders complain about high salary expectations from potential employees, which smaller firms struggle to meet. Also, nearly 70% of respondents consider SMEs as less prestigious places to work.
Concerning labor productivity, in micro and small businesses it remains more than twice as low as in medium and large enterprises. Data show that a worker generated an average of about $10,100 in a small business in 2025, compared with $34,300 in medium-sized firms. This year the gap continues to widen.
Generally, major constraints for SMEs are limited access to financing and the high cost of borrowing.
An unstable tax and regulatory environment, as well as broader macroeconomic volatility are additional factors hindering SME development.
Nevertheless, SMEs are a key source of employment in Kazakhstan, in spite of these challenges. As an example, employment in the sector has demonstrated a growth of the workforce from 40% to 50% over the past five years. At present, SMEs employ nearly 4.7 million people out of 9.3 million employed nationwide. That means that roughly one in two workers is employed in this segment.
As the report shows, an average annual rate of SME employment growth is 6%. Meanwhile, the decline of employment in other sectors is about 3% per year.
The report notes that the concentration of employment in SMEs makes the labor market vulnerable to tax and regulatory changes. Also, negative shocks in the sector could directly cause rising unemployment.
According to the data previously reported by The Times of Central Asia, about 40% of Kazakhstan’s GDP currently account for SMEs. This figure is still below benchmark countries such as Turkey (41%), the United States (44%), and Uzbekistan (52%).
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Read moreKazakhstan’s SMEs Face Severe Labor Shortage
Small and medium-sized enterprises (SMEs) in Kazakhstan have become one of the country’s main sources of employment, but are facing a severe labor shortage, according to a joint report by Mastercard and KPMG. The report identifies workforce shortages as one of the most pressing challenges for SMEs, with nearly half of businesses reporting acute staffing […]
Read moreBusiness climate worsens in Q1 2026 compared to previous quarter – BAG Index
The business climate in Georgia worsens in the first quarter of 2026 compared to the previous quarter, the Business Association of Georgia (BAG) reports. Despite the decline, the indicator remains in a “boom phase,” meaning companies still assess their current situation and expectations positively. The BAG Index, based on a survey of member companies conducted […]
Read moreNew regulations establish fines of up to 100,000 dinars for traders’ violations
Amendments to the Law on Trade adopted by the National Assembly of Serbia will come into force on 1 May 2026.
Notably, purchasing points receive a separate regulatory framework and are defined as a specialized form of wholesale trade intended for the purchase of agricultural products and livestock directly from producers.
For that, they need an entity that the competent ministry maintains in a special register – a centralized electronic database through the “e-purchasing point” system. It will record all key data (the identity of the buyer, the type of goods and the purchasing period).
In difference from the past, traders at purchasing points now must publicly display in advance the purchasing conditions, including prices depending on quality, payment deadlines, methods of assessing goods, and procedures in case of disputes. They also must display the contact details of inspection services is mandatory.
Communication with consumers will also change. Firstly, the prior consent of the consumer is now necessary for traders to send offers. Secondly, only registered traders may sell goods in sales at events. Also, they reduce the deadline for certain applications from 60 to 30 days.
Amendments specify that farmers may sell exclusively their own produce to eliminate the possibility of resale under their name.
Also, the Government will transfer some of its competences to the line minister.
It will be mandatory to consolidate records when delivering goods from a retail outlet. Other new rules claim from the issuer of trust marks in e-commerce submission of detailed information to the ministry on the criteria and methods for awarding such marks.
The requirement to make all product information available to consumers prior to purchase, in a manner that is permanently visible and easily accessible, is one of the more significant aspects of the amendments related to product declaration and labelling. Simultaneously, they want to introduce a unified product coding system to standardize product labelling on the market.
According to the law, unit prices must be displayed where possible. Traders may sell products for the first time at lower prices, but for a maximum period of 60 days. The new rules introduce the concept of a “previous price”, or the lowest price at which they offered product during a specified period prior to the discount.
The law also tightens requirements for market and municipal inspectors. Now, they must now have higher education qualifications, pass professional exams, and meet additional criteria prescribed by law and internal regulations.
The new rules prescribe a uniform fine of 100,000 dinars for a wide range of offences that legal entities commit. Almost all key aspects of business operations (marking purchasing points and maintaining transaction records to transparency in pricing and product declarations) are in the list of offences.
A trader will also fall under fines if he fails to provide requested data to the competent authorities, does not display business hours or fails to comply with them, or sells goods without properly labelled information.
Concerning promotions and advertising, a trader will fall under the same financial penalty if he offers goods with special sales incentives contrary to the rules or advertises discounts in a manner not compliant with the law.
Nevertheless, the maximum fine is reduced in certain cases from the previous 500,000 to 150,000 dinars.
As for the amount of fines, a model appears that takes into account a range of factors (the severity and duration of the offence, benefit gained by the trader, efforts made to mitigate consequences for consumers). They also consider previous offences and penalties imposed in other countries in cases of cross-border operations.
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Read moreGermany tightens rules: Ukrainians may lose benefits for refusing work
Germany has tightened the rules for recipients of social assistance. Now, Ukrainians under temporary protection may lose their benefits after just one refusal to work. Find out how the rules are changing and who is affected. In Germany, rules for social assistance recipients have been tightened—the changes already affect Ukrainians under temporary protection. Now, turning […]
Read moreFines of up to 100,000 dinars for traders’ violations under new regulations
The National Assembly of Serbia has adopted amendments to the Law on Trade. The new regulations will come into force on 1 May 2026. One of the amendments concerns purchasing points, which for the first time receive a separate regulatory framework. These are defined as a specialised form of wholesale trade intended for the purchase […]
Read moreKazakhstan faces workforce shortage in eight key sectors
At today’s Government Hour in the Majilis Kazakh Science and Higher Education Minister Sayasat Nurbek announced that Kazakhstan is experiencing a shortage of specialists in eight critical areas of the economy, Qazinform News Agency reports. According to the Minister, since 2025, Kazakhstan has been conducting labor market studies with QS (Quacquarelli Symonds) and using the […]
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