Posts tagged as Economic

Lithuania needs Turkey’s help (Video)

By Kasparas Jankauskas on Monday, July 19, 2021

Lithuania has seen an influx of migration from the Middle East and Africa via Belarus, which officials say is being facilitated by Minsk. The Lithuanian government has declared a state-level emergency situation due to the spike of irregular migration. As a result, Lithuania makes efforts to find a solution to this problem in the East. Lithuanian Foreign Minister Gabrielius Landsbergis has left for Turkey for talks on curbing irregular migration…

SEB: Rapid inflation relates to low 2020 reference base

Wednesday, July 7, 2021

Inflation of close to four percent on year to June is primarily down to the low reference base in 2020, the year the coronavirus arrived, according to one expert. SEB economic analyst Mihkel Nestor told BNS that: “The growth in consumer prices clearly reflects the recovery of the economy from the coronavirus crisis.” The consumer price index (CPI) increased in June by 3.8 percent compared with June 2020, and by…

Lithuanian national economic recovery plan sent to Brussels

Friday, May 14, 2021

The Lithuanian government on Friday approved a 2.2-billion-euro national economic recovery plan, dubbed “New Generation Lithuania”, and would now send it to the European Commission. The plan might still be adjusted but any corrections would be more of a technical nature and would not modify its content, Finance Minister Gintare Skaiste said at the Cabinet’s meeting. “Negotiations with social and economic partners have been finalized and certain changes have taken…

Estonia and Georgia remain emerging Europe’s most free economies

Sunday, March 7, 2021

As the world continues to recover from the coronavirus pandemic, economic freedom will be more important than ever, says a new report from the Heritage Foundation. In emerging Europe, Estonia and Georgia continue to lead the way. Estonia is once again the regional leader in the Heritage Foundation’s Index of Economic Freedom. The Baltic state ranks eighth globally, four places ahead of emerging Europe’s next best performer, Georgia. “Many countries in…

Economic activities discussed in Lithuania

Thursday, February 11, 2021

On 10 February, the first meeting of the new leadership of the Ministry of Foreign Affairs with heads of Lithuania’s diplomatic missions on economic diplomacy discussed economic activities carried out by the bilateral missions, priorities of economic diplomacy, measures, and the role of diplomacy in strengthening Lithuania’s economic competitiveness. “After comparing economic indicators of countries of similar size in 2019 – export capacities, attracted foreign direct investment, and the number…

Cold winter drives economic growth via energy sector in Estonia

Wednesday, February 10, 2021

The ongoing cold weather has had a boosting effect on the economy so far, largely driven by increased electricity consumption and production, ETV news show “Aktuaalne kaamera” (AK) reported Tuesday night. Tuesday morning had seen a consumption high for winter so far, and was only a little off the all-time record, while the increased production and higher electricity prices will affect economic growth positively at a time when the coronavirus…

SSE Rīga to host online ‘Homecoming’ economic discussions

Thursday, November 5, 2020

On November 6 the Stockholm School of Economics in Rīga (SSE Rīga) is promising “an unforgettable online gathering of minds and voices determined to play our part to continuously foster growth and lead by example in the Baltic region and beyond.” The gathering will take the form of several online panels as “a six-hour virtual event with live conversations on what’s next for Baltic macro, industries and capital markets.” “SSE Riga Homecoming…

Latvia’s bank profits 47.1% smaller than last year

Monday, September 28, 2020

Latvian monetary financial institutions, mainly banks, have been working on profits of €93 million in first eight months of 2020, according to information published by the Bank of Latvia September 28. This is 47.1% less than in the corresponding period of 2019. Santa Purgaile, head of the Financial and Capital Market Commission (FKTK), said that the decline in financial institutions’ profits was not a surprise, given the fact that it…

How Baltic States help citizens and businesses in crisis

Tuesday, June 9, 2020

Generally, the Baltic States have chosen relatively similar support measures to overcome the economic crisis caused by the COVID-19 pandemic. Latvian Radio reported on June 9 about the approaches taken by Latvia, Estonia, and Lithuania. Economists stress that the effect will be worth assessing after a year and a half. Economist Pēteris Strautiņš of the Luminor bank pointed out that the objective of all countries is to reduce the decline in economic activity and to help people whose activities are…

Uzbekistan, Latvia discuss issues of deepening economic relations

Monday, January 20, 2020

Ambassador of Uzbekistan Kadambay Sultanov met with LDDK President Vitālijs Gavrilovs, in Riga, Uzbekistan MFA reports. Issues of supporting efforts on increasing economic cooperation between Uzbekistan and Latvia, as well as institutionalization of relations between business circles of the two countries were discussed at the meeting. Vitālijs Gavrilovs noted the prospects for joint efforts to further expand the export of Uzbekistan’s products to Latvia, as well as other Baltic and…