Latvia’s industrial production declined by 4.5% in 2023 compared to 2022, according to the Central Statistical Bureau (CSP), LSM reported. Output in manufacturing decreased by 4.5%, in electricity and gas supply by 0.8%, and in mining by 19% over a year. The drop in manufacturing output was the largest annual decline since 2009. Martins Abolins, economist…
The total production of industrial enterprises in Estonia declined by 10.5% in 2023 at constant prices compared to 2022, according to Statistics Estonia’s data, ERR reports. Output decreased in all three industrial sectors, including in energy production by 21%, in manufacturing by 9.8%, and in mining and quarrying by 4.7%. Production volumes fell every month…
Lithuanian real estate developer Hanner will take over the project to build a new national stadium in Vilnius, the city’s mayor, Valdas Benkunskas, announced, BNS reports. Vilniaus Daugiafunkcis Kompleksas, the original concessionaire on the project, is managed by private equity fund management company BaltCap, which is mired in a major embezzlement scandal. Under the new…
Latvian farmers will begin holding protests across the country on 5 February 2024, the Farmers’ Parliament (ZSA) announced, LSM reports. ZSA chairman Juris Lazdins said that the composition of the current government was “particularly distinguished by its arrogance and indifference.” The organisation has submitted its demands to Prime Minister Evika Silina and Agriculture Minister Armands…
Estonian political parties received more than EUR 4.9mn in private donations in 2023, according to data from the Political Parties Financing Surveillance Committee (ERJK), ERR reported. The total does not include donations made to the Conservative People’s Party of Estonia (EKRE) in the fourth quarter of 2023, however. The opposition Fatherland (Isamaa) party received altogether…
The speakers of the parliaments of the three Baltic States visited Canada and the US to discuss regional security issues and cooperation, BNS reported. They met with with the speaker of Canada’s House of Commons, Greg Fergus, and members of the Canada-Nordic-Baltic Parliamentary Friendship Group. In the US, the Baltic speakers met with the speaker…
Lithuania’s Vilnius City District Court has approved a request from the European Public Prosecutor’s Office (EPPO) to arrest Sarunas Stepukonis, former partner at Estonia-registered BaltCap Infrastructure Fund (BInF), BNS reports. Stepukonis is suspected of embezzling at least EUR 27mn from the fund. His current whereabouts are unknown. BaltCap has sued Stepukonis and casino operator Olympic…
Latvia’s tax revenue totalled EUR 13.414bn in 2023, which was EUR 1.188bn (9.7%) less than in 2022, according to the Finance Ministry, LETA reports. Annual tax revenue was 2.7% more than the EUR 13.058bn planned. General government tax revenue reached 2.9% above target at EUR 12.639bn, including EUR 10.514bn of state budget revenue (2.3%) and…
Estonia’s retail turnover totalled EUR 10.5bn in 2023, which was down 8% at constant prices compared to 2022, according to preliminary data from Statistics Estonia, ERR reports. The retail turnover of grocery stores declined by 4%, automotive fuel by 5%, and manufactured goods by 11% over a year.