Construction costs in Latvia increased by 4.1% in June 2023, compared to a year earlier, according to data from the Central Statistical Bureau, LSM reports. Labour remuneration rose by 6.7%, maintenance and operational costs of machinery and equipment by 5.8%, and prices of building materials by 2.2% over a year. Compared to May 2023, construction…
The average gross monthly salary in job advertisements in Estonia amounted to EUR 1,481-1,947 in the first half of 2023, which was 13% higher than in 2022, according to data from recruitment portal CV Keskus, Postimees reports. The average salary offered for top specialists and middle managers stood at EUR 2,170-2,728 (up 17%), for mid-level…
Latvia has currently around 50,000 unemployed people, which is an all-time low, according to data from the State Employment Agency (NVA), LETA reports. The country’s unemployment rate now stands at 5.6%, which is down from 6.3% in the beginning of 2023. Evita Simsone, director of NVA, noted that the small number of unemployed created problems…
The climate and energy ministers of the three Baltic States have agreed to bring forward the synchronisation of the Baltic power grids with the continental European system to February 2025, BNS reports. The national transmission system operators will now agree on the technical details, after which the prime ministers of the three countries will make…
Experts expect the growth of food prices in Latvia to continue falling, LETA reports. Noris Kruzitis, head of the Latvian Food Retailers Association (LPTA), projected that the growth of food prices would continue to slow down by 3-4 percentage points in the coming months. Inguna Gulbe, head of the Agricultural Market Promotion Centre (LTVC), said…
Estonia’s Ministry of Climate has drawn up an updated national energy and climate plan that includes more ambitious renewable energy and climate neutrality targets, ERR reports. Under the plan, Estonia would produce all power from renewable energy sources by 2030 and be completely climate neutral by 2050. Climate Minister Kristen Michal asserted that the plan…
Lithuania’s State Defence Council (VGT) has instructed the government to agree with Latvia and Estonia on the synchronisation of the Baltic power grids with the continental European system and disconnection from Russia’s BRELL system by February 2025, BNS reports. Kestutis Budrys, chief national security adviser to President Gitanas Nauseda, said that there was “no fundamental…
The number of real estate transactions in Estonia totalled 11,126 in the second quarter of 2023, with the total value amounting to EUR 1.25bn, according to data from the Estonian Land Board (Maa-amet), ERR reports. Apartments accounted for 58%, undeveloped land for 24%, and developed land for 17% of all real estate transactions. Apartment sales…
Producer prices in Latvia’s industry rose by 0.4% in June 2023, compared to June 2022, according to data from the Central Statistical Bureau, LSM reports. Prices of products sold on the domestic market rose by 3.8%, while prices of exported products dropped by 3.6%. Compared to May 2023, producer prices in Latvian industry declined by…