Lithuania’s GDP will grow by 2.3% in 2024 and 2.9% in 2025, according to the Finance Ministry’s revised forecast, BNS reports. In June 2024, the ministry projected that the GDP would grow by 2.1% in 2024 and 2.9% in 2025. Average annual inflation will slow down to 1.0% (1.1%) in 2024, before rising to 2.5%…
Estonia’s services exports totalled EUR 3.1bn at current prices in the second quarter of 2024, which was up 3% from the same period of 2023, according to Statistics Estonia and the Bank of Estonia, ERR reports. Imports of services totalled EUR 2.3bn, which was up 3% as well. The balance of Estonia’s foreign trade in…
The three Baltic States, together with Finland, Poland, and Germany, should build a green hydrogen corridor by 2040, according to a feasibility study commissioned by the Nordic and Baltic gas transmission system operators, BNS reports. The 2,500-kilometre corridor would transport up to 2.7 million tonnes of hydrogen fuel per year. The corridor could reduce CO2…
Latvia’s foreign trade turnover totalled EUR 23.26bn at current prices in the first seven months of 2023, which was EUR 1.52bn (6.1%) less than in the same period of 2023, according to the Central Statistical Bureau’s (CSP) provisional data, LSM reports. Exports of goods amounted to EUR 10.7bn (down 4%) and imports to EUR 12.56bn…
Doctors now enjoy the highest salaries in Estonia, surpassing IT experts, according to data from recruitment portal CV Keskus, BNS reported. Salaries offered to doctors now stand at an average of EUR 3,650-4,150 per month, followed by sales managers with EUR 1,900-4,000 and IT specialists with EUR 2,900-3,750. Meanwhile, average salary offers for sales specialists…
Consumer prices in Latvia rose by 0.7% in August 2024, compared to the same period of 2023, according to the Central Statistical Bureau’s (CSP) data, LETA reports. Compared to July 2024, consumer prices fell by 0.5%, however. Prices of food and non-alcoholic beverages increased by 3.5%, alcoholic beverages and tobacco by 7%, clothing and footwear…
Estonian President Alar Karis stressed that the state budget must remain under strict parliamentary control, BNS reported. Speaking at the opening of the autumn session of the Estonian parliament, the Riigikogu, Karis said that MPs should not engage in bargaining for budget funds for their supporters, but instead focus on making the most important decisions…
The Latvian state will have to borrow at least EUR 3bn annually for the next four years, Kaspars Abolins, head of the State Treasury, announced, LETA reports. He said that the state needed to refinance earlier Eurobonds and finance the state budget deficit and loans to local governments. The plan was to raise the money…
The Lithuanian Migration Department (LMD) denied residence to almost 36,000 foreigners in the first eight months of 2024 after the introduction of tighter rules on immigration, according to the Ministry of Interior, BNS reports. LMD received altogether 67,175 residence permit applications. The number of applications to work in Lithuania from Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, and…