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…
The European Investment Bank (EIB) and Lithuania have signed a EUR 300mn financing agreement to support investment in long-term competitiveness, job creation, and the green and digital transitions in the 2021-2027 period, Devdiscourse reports. Lithuania will use the money to finance its national contribution to EU-funded priority projects. The loan is the first tranche of…
The legal minimum wage in the Baltic States has risen the most in Lithuania over the past ten years, according to Eurostat data, LSM reports. Lithuania’s minimum wage stood at EUR 840 in July 2023, and has risen by an average of 11.2% per year compared to July 2013. In Estonia, the minimum wage has…
Estonia and Latvia have put their national interests ahead of regional projects in regard to the synchronisation of the Baltic power grids with the contintental European system, Lithuania’s former energy minister, Arvydas Sekmokas, stated. Speaking in an interview with LRT, Sekmokas noted that Estonia seemed to want to postpone the synchronisation project to 2025 and…
Latvia’s Economy Minister, Ilze Indriksone, said that the state should not intervene in the food market, LSM reports. Earlier, Agriculture Minister Didzis Smits insisted that market intervention was necessary due to the high food prices. He suggested establishing a special regulator to monitor food prices in shops. Indriksone agreed that Latvia’s large supermarket chains, Maxima…