The Estonian government plans to raise the country’s retirement age by one month as of 2027, ERR reports, citing daily Õhtuleht. Under the change, the new retirement age will be 65 years and one month. The retirement age is linked to the life expectancy of 65-year-olds. However, the retirement age cannot be raised by more…
Lithuania plans to allocate more than 3% of its GDP to defence, President Gitanas Nauseda announced, BNS reports. Speaking during a joint press conference with Polish President Andrzej Duda in Warsaw, Nauseda said that Lithuania would follow Poland’s example of raising defence spending. Also, he said that the two countries would soon begin training Ukrainian…
Latvian President Edgars Rinkevics criticised Transport Minister Kaspars Briskens for his communication on the development of the country’s national air carrier, airBaltic, and the Rail Baltica railway project, LSM reports. Rinkevics said that the minister’s communication had been a “complete failure.” Speaking after her meeting with the President, Prime Minister Evika Silina said that she…
Estonia’s opposition conservative Fatherland (Isamaa) party remained the country’s most popular political party in August 2024, according to the latest Norstat poll for the Institute for Societal Research (YI), ERR reports. Isamaa’s support among voters now stands at 27.6%, followed by the ruling Estonian Reform Party with 19.4% and its coalition partner, the Social Democratic…
Lithuanian Foreign Minister Gabrielius Landsbergis, chairman of the ruling Homeland Union (TS-LKD), called on President Gitanas Nauseda to set up a “cordon sanitaire” to prevent radical political forces from coming to power after the parliamentary elections in October 2024, BNS reports. Speaking in an interview with Ziniu Radijas, Landsbergis warned that pandering to radical political…
The Latvian government has decided to pay compensation to low-income households for rapid rises in energy prices, LSM reports. The permanent support mechanism will apply to exceptional price increases for electricity, heating, and biomass fuels. Households with per capita income of up to EUR 473 per month and housing expenditure of at least 30% of…
Raising Estonia’s defence spending to 5% of GDP would be unfeasible, Finance Minister Jürgen Ligi stated, ERR reports. Earlier, Defence Minister Hanno Pevkur suggested that NATO’s new defence plans meant that Estonia would have to raise its defence budget from the current 3% of GDP to somewhere less than 5% over a period of 20…
Estonia’s industrial production declined by 5.8% at constant prices on year in July 2024, according to Statistics Estonia, ERR reports. Output rose by 16.9% in mining and 16.3% in electricity production, but fell by 7.8% in manufacturing. The volume of industrial production declined in more than two thirds of manufacturing sectors. Meanwhile, sales of manufacturing…
The Latvian government may impose a new surplus profit tax on individual banks as of 2025, Economy Minister Viktors Valainis has announced, LSM reports. The tax could be levied for two years. Valainis argued that the tax would incentivise banks to increase their lending significantly. Banks that increased their volume of lending could then be…