The Lithuanian government has approved the Social Security and Labour Ministry’s proposal to raise the minimum monthly wage by 10% to EUR 924 before tax as of 2024, Baltic News Network reports. Pending parliamentary approval, the minimum hourly wage will also rise from the current EUR 5.14 before tax to EUR 5.65. Social Security and…
The Lithuanian government has imposed a temporary ban on transit shipments of specific dual-use goods through Lithuania, Baltic News Network reports. The concern is that these goods could ultimately reach Russia and Belarus and be used in the war in Ukraine. The control list comprises 57 categories of goods subject to restrictions, primarily items containing…
Lithuania’s Foreign Minister, Gabrielius Landsbergis, urged Hungary not to delay the ratification of Sweden’s NATO membership until autumn 2023, Baltic News Network reports. He emphasised the importance for Hungary to fully comprehend the implications that such a delay could have on the security of the entire NATO alliance, particularly in the Baltic region. Earlier, the…
Lithuania’s state-owned energy group, Ignitis Grupe, will invest EUR 25mn in energy and climate change startups over ten years through Germany’s World Fund, Baltic News Network reports. The group has signed an investment management agreement with WF World Fund Management. Earlier, Ignitis Grupe announced that World Fund would manage the group’s second venture capital fund….
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…