Several million worths of cuts have been entered in the state budget, but not carried out. The cuts, if implemented, would mean reducing the expenses of ministries by around half, new Minister of Finance, Keit Pentus-Rosimannus (Reform) told Vikerraadio show “Uudis+” Thursday. “The budget and state finances as a whole are in a pretty bad shape – MPs have been talking about it for a long time,” Pentus-Rosimannus said. She…
Posts tagged as cuts
Lithuanian president suggests temporary cuts to income tax to stimulate economy
Tuesday, May 5, 2020The Lithuanian President is suggesting temporarily cutting the income tax so as to speed up economic recovery from the coronavirus-induced crisis. President Gitanas Nausėda discussed the option during a discussion with economists last week, according to his adviser Simonas Krėpšta. “The discussion included one of the options, ideas – to reduce the income tax temporarily until the end of the year […] for all employees in a very horizontal manner,…
Cuts to Rīga transport services criticized amidst Covid-19 outbreak
Thursday, March 26, 2020The Rīga temporary administration is acting to ensure sufficient transport flow during the coronavirus pandemic to reduce crowding, the Rīga City Council told the press March 26. Specifically, the city’s interim head Edvīns Balševics has tasked Rīga executive director Juris Radzevičs and the board of the Rīgas Satiksme municipal transport company to increase transport services so that passengers could stand at the mandatory 2 meter distance from one another. “Taking public safety…
Estonia cuts alcohol excise duty by 25%
Monday, July 1, 2019A law to amend the Alcohol, Tobacco, Fuel and Electricity Excise Duty Act that stepped into effect in Estonia on Monday cuts the rates of the excise duty on beer, cider and strong alcohol by 25%, informed LETA/BNS. It appears from the accompanying notes of the bill that the purpose of lowering the duties is giving business operators an opportunity to cut alcohol prices in order to curb cross-border trade…
Oil nudges higher on Venezuela and Iran sanctions, OPEC cuts
Thursday, March 7, 2019Oil edged up on Thursday amid ongoing OPEC-led supply cuts and U.S. sanctions against exporters Venezuela and Iran, but price gains were capped by record U.S. crude output and rising commercial fuel inventories. U.S. West Texas Intermediate (WTI) crude oil futures were at $56.31 per barrel at 0637 GMT, up 9 cents, or 0.2 percent, from their last settlement. Brent crude futures were at $66.22 per barrel, up 23 cents,…