Lithuania’s Finance Ministry has revised its GDP forecast for 2023, now projecting a contraction of 1%, Baltic News Network reports. In March 2023, the ministry predicted a GDP growth of 0.5% for 2023. As per the ministry’s updated forecast, the economy will expand by 2.5% in 2024, while the previous forecast had projected a 3%…
Germany will station a Patriot air defence system for the duration of the upcoming NATO summit in the Lithuanian capital, Vilnius, Baltic News Network reports. Also, additional combat capabilities will be stationed in Lithuania for the summit. The Lithuanian Armed Forces (LGP) will allocate over 3,000 troops for the event, which is to be held…
Lithuania has submitted a request to the European Commission, seeking a loan of over EUR 1.8bn from the EU’s Recovery and Resilience Facility (RRF) for investments, Baltic News Network reports. Finance Minister Gintare Skaiste said that around EUR 1bn would be allocated for loans to businesses and industry, while an additional EUR 700mn would be…