Posts published in Day: March 1, 2021

Estonia’s 2020 economic contraction comparable with near neighbors’

Monday, March 1, 2021

Estonia’s economic contraction of close to 3 percent in 2020 was comparable with those experienced by its nearest EU neighbors, ERR reports. Latvia saw the largest economic decline, Lithuania the mildest, during a time when the coronavirus pandemic and its accompanying restrictions hit the global economy hard. Estonia’s Gross Domestic Product (GDP) shrank by 2.9 percent in 2020 , compared with 3.6 percent in Latvia and 1.3 percent in Lithuania.…

Tallinn Airport 2020 losses stood at €2 million

Monday, March 1, 2021

State-owned Tallinn Airport has posted net losses of €2 million for 2020, the result of the pandemic and its accompanying restrictions. The company’s total operating income fell 24.1 million on year to 2020, to €36.4 million, while Earnings before interest, taxes, depreciation and amortization (EBITDA) stood at €5.8 million. Turnover also fell, by 56 percent, to €20.6 million in 2020, while passenger numbers fell even more, by around 75 percent…

Leading tour operator in the Baltic States is increasing the Egyptian program

Monday, March 1, 2021

The leading tour operator in the Baltic States “Novaturas” Group is increasing the Egyptian program. From March, 4 flights per week will be operated from Lithuania and Estonia to the main Egyptian resorts. “In February 2021, after almost one-year break, we have resumed flights to Egypt. On the 13th of February the first plane to Sharm el Sheikh took off from Estonia, and on the 20th of February – from…

Corruption gone down in Lithuania

Monday, March 1, 2021

A survey initiated by Special Investigations Service shows that the number of people who have given a bribe over the past year has gone down in Lithuania, but there’s a growing number of people who believe bribes help to solve problems. Commissioned by the SIS and carried out by Vilmorus, the survey, called “Lithuania’s Corruption Map 2020”, revealed that 9 percent of people surveyed said they had given a bribe…

Latvian scientists created new personal protective equipment

Monday, March 1, 2021

Latvian Television reported on February 28, that Latvian scientists have created a new design for personal protective equipment – full gear and face masks to facilitate medical work. The new gear sits well on the body and allow movements. Developing the design, scientists at Rīga Technical University (RTU) and Riga Stradiņš University (RSU) studied human workability when wearing the protective gear which is currently worn by medics fighting Covid-19. “It was concluded…

President Kaljulaid to travel to Latvia and Lithuania

Monday, March 1, 2021

President Kersti Kaljulaid will be leaving on Tuesday on a working visit to Rīga, from which she will continue on that same evening to Vilnius. The trip will fall on the centenary of diplomatic ties between Estonia, Latvia and Lithuania and is designed to reinforce relations and boost cooperation between the three Baltic States. “Latvia and Lithuania will always be our closest friends, because of the space and the history…

827 new Covid-19 cases in Latvia

Monday, March 1, 2021

On Saturday February 27, Latvia recorded 827 new cases of Covid-19, according to the Disease Prevention and Control Center (SPKC). The total number of cases since the start of the pandemic now stands at 85,810. Of 12,088 tests carried out in the last 24 hours, 6.8% were positive, up on the 5.7% ratio the day before. 4% is regarded as the threshold rate at which the virus is spreading in an uncontrolled manner. The…

Estonian economy shrank nearly 3 percent in 2020

Monday, March 1, 2021

The Estonian economy shrank by 2.9 percent in 2020, state agency Statistics Estonia reports, while gross domestic product (GDP) fell by 1.2 percent year on year to the fourth quarter of 2020 (Q4 2020). The culprit was primarily the COVID-19 pandemic and its ensuing restrictions, though foreign trade actually fared well given the conditions. Manufacturing, trade, and accommodation and food services were the main contributors to the economic decline, Statistics…

Fear of inflation in Estonia has increased interest in real estate

Monday, March 1, 2021

Real estate developers admit that while they were waiting for a real estate crisis in the onset of the coronavirus pandemic, a fear of inflation has led the sector to go through a boom instead. On a foggy winter Sunday, the cornerstone of a six-apartment villa development was placed in Pärnu. As of the development’s location and project, the per-square meter price of the apartment’s stands at around €4,000. But…

Tourism in Latvia has been hit hard by the Covid-19

Monday, March 1, 2021

According to Latvian Radio, the tourism sector has been hit hard by the Covid-19 crisis. Some businesses say, though, that the year 2020 was their  best. Data from the Central Statistical Bureau show that last year 1.46 million foreign and local tourists stayed in Latvia, almost by half less than in 2019, making it the lowest rate in the last 10 years. However, for some tourism businesses, the year was very…