The Lithuanian government has approved the Energy Ministry’s proposal to assess the potential for developing nuclear energy capacity in the country, BNS reports. The ministry will set up a special working group to assess the possible establishment of small modular nuclear reactors with a capacity of 1.5 GW. Lithuania’s electricity demand is estimated to reach…
Latvia’s gross energy consumption remained stable in 2024, according to provisional data from the Central Statistical Bureau (CSP), LSM reports. Gross energy consumption totalled 183 PJ, which was 1 PJ less than in 2023. Final energy consumption totalled 166 PJ, which was down 0.8% on year. Transport accounted for 47 PJ (28.4%) of final consumption,…
Renewable energy accounted for 73% of the total volume of electricity generated in Latvia in 2024, according to provisional data from the Central Statistical Bureau (CSP), LSM reports. The volume of electricity produced from renewable sources totalled 4,643 GWh in 2024. Hydro, wind, and solar power plants generated a total of 4,022 GWh of electricity…
Latvian ministries have submitted 250 proposals for spending cuts, Finance Minister Arvils Aseradens announced, LSM reports. Ministries have suggested cuts in remuneration, subsidies, goods and services, and other expenditure. The proposals would reduce public sector spending by EUR 150mn in 2026, the Finance Ministry estimated. The ministry targets cumulative spending cuts of up to EUR…
Estonia’s annual inflation may reach 6% or higher in 2025, driven by the rise in energy and food prices, local analysts forecast, ERR reports. Triinu Tapver, analyst at LHV Pank, said that inflation could amount to as much as 6.2-6.5% in 2025, which would be up sharply from the bank’s earlier estimate of 4.5% at…
Estonia’s annual GDP totalled EUR 39.5bn at current prices in 2024, which was down 0.3% from 2023, according to data from Statistics Estonia, ERR reports. In the fourth quarter of 2024, the GDP totalled EUR 10.6bn, which was up 1.2% from a year earlier. This marked the end of ten quarters of recession in the…
The World Trade Organization (WTO) has again suspended the case over China’s trade restrictions on Lithuania, following a second request from the European Commission (EC), BNS reports. Apparently, EC lawyers have failed to find sufficient proof of Chinese restrictions on Lithuanian goods. The case may now be halted for a year and then terminated if…
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…
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…