The combined revenues of Estonia’s three largest telecommunications service providers dropped to around EUR 671mn in 2024, ERR reports. Estonia’s leading telecommunications company, Swedish-owned Telia, reported an annual turnover of EUR 359.7mn, which was down 0.4% from 2023. Finnish-owned Elisa’s turnover fell by 1.2% to EUR 223mn in 2024. Swedish-owned TELE2’s turnover amounted to an…
Latvia’s general government deficit totalled EUR 849.6mn in 2024, according to the methodology of the European System of Accounts (ESA 2010), the Ministry of Finance announced, LETA reports. The deficit amounted to 2.1% of GDP, which was 0.3 percentage points lower than in 2023. The general government debt totalled EUR 19bn at the end of…
Lithuanian President Gitanas Nauseda does not expect the country’s three-party coalition government to survive, BNS reports. Earlier, Remigijus Zemaitaitis, chairman of the far-right Dawn of Nemunas party, expressed doubts about raising defence spending and labelled Ukraine a corrupt country, LRT reported. Speaking in an interview with Verslo Zinios, Nauseda accused Zemaitaitis of discrediting “not only…
Estonia’s GDP declined by 0.1% on year in the fourth quarter of 2024, according to preliminary data from Statistics Estonia, ERR reports. The seasonally and working-day adjusted GDP remained unchanged compared to the third quarter of 2024. The Estonian economy has been in recession since the end of 2022. However, the pace of decline has…
German aviation group Lufthansa Group will become a strategic investor in Latvia’s national air carrier, airBaltic, LSM reports. Under the deal, Lufthansa will acquire 10% of shares in airBaltic for EUR 14mn. The group plans to close the deal in the second quarter of 2025, subject to regulatory approval. The shares will be converted into…
Lithuania’s two largest banks have raised their inflation forecasts for 2025, BNS reports. SEB Bank now expects annual inflation to reach 3.3% in 2025, while Swedbank’s forecast now stands at 3.0%. In November 2025, both banks projected that annual inflation would reach 2.7% in 2025. The banks kept their inflation forecast for 2026 unchanged at…
The total turnover of retail trade enterprises in Estonia amounted to EUR 10.4bn in 2024, which was down 3% from 2023, according to preliminary data from Statistics Estonia, Baltic News Network reports. Retail sales in grocery stores fell by 3% and in stores selling manufactured goods by 4% over a year. Retail sales of automotive…
Latvia’s total retail trade turnover rose by 1% in 2024 compared to 2023, according to calendar-adjusted data at constant prices published by the Central Statistical Bureau (CSP), LSM reports. The annual turnover of retail trade in food products decreased by 1.6%, whereas retail trade of non-food products (except automotive fuel) increased by 2.3%. Retail sales…
Lithuania’s average gross monthly wage amounted to EUR 2,218 in 2024, which was up by EUR 204 (10.2%) from 2023, according to the State Data Agency (VDA), BNS reports. The average net monthly wage increased by EUR 116 (9.3%) to EUR 1,365. Real wages rose by 8.5% over a year. The main drivers of wage…