The European Bank for Reconstruction and Development (EBRD) expects the Latvian and Lithuanian economies to grow and the Estonian economy to contract in 2024, LSM reports. The bank lowered its GDP growth forecast for Estonia and Latvia, but raised its forecast for Lithuania. EBRD now expects Estonia’s GDP to decline by 0.8% in 2024, down…
The Latvian government plans to raise taxes on fuel, harmful beverages, tobacco, and gambling, LETA reports. Under the plan, the excise tax on fuel will amount to EUR 10 per tonne of CO2 in 2025 and to EUR 20 per tonne in 2026. The excise duty on sugary non-alcoholic beverages will rise from the current…
The presidents of the three Baltic States — Estonia’s Alar Karis, Latvia’s Edgars Rinkevics, and Lithuania’s Gitanas Nauseda — have called for reforming the United Nations Security Council (UNSC), BNS reported. They stressed the need to support Ukraine and hold Russia accountable for its military aggression. Karis pointed to the UNSC’s current inability to resolve conflicts,…
Estonia and Finland are drawing up joint plans for increased maritime defence, Major General Andrus Merilo, commander of the Estonian Defence Forces (EDF), revealed, ERR reports. Speaking in an interview with Helsingin Sanomat, Merilo said that the goal was to establish specific plans to close the Gulf of Finland to Russian ships if necessary. Earlier,…
This week, Baltic candidates for EU commissioners were named, and the IMF backed down under pressure on its planned Russia mission. The Estonian government agreed on next year’s draft budget, pressed the Orthodox church to cut ties with Moscow, and voted to condemn Israel. Latvia’s president toured the US, the transport minister survived yet again,…
The crash of a Russian attack drone in eastern Latvia on 7 September 2024 has raised concerns about the ability of Baltic air defence systems to protect civilians from unexpected aerial threats, The Baltic Sentinel reports. Critics questioned why the drone, which was equipped with explosives, was not shot down but was instead allowed to…
Estonian postal services provider Omniva has opened a new logistics centre near Lithuania’s second-largest city, Kaunas, BNS reports. The company invested EUR 42mn in the new facility, which was the group’s largest investment to date. The logistics centre, located in the Kaunas Free Economic Zone (KLEZ), has an area of almost 22,000 m2. The facility…
Lithuania is seeking continuous presence of US combat troops in the country, regardless of the outcome of the US presidential election, President Gitanas Nauseda stated, BNS reports. Speaking after visiting US troops at the Pabrade training area near Vilnius, Nauseda noted that the base would soon be able to accommodate about 1,000 US troops. At…
The financial regulatory authorities of the eight Nordic and Baltic countries have conducted a financial crisis simulation exercise under the Nordic Baltic Stability Group framework, ERR reports. The exercise was aimed at testing preparedness for a potential crisis situation, including in communication, information sharing, and collaboration between the authorities. Around 450 participants representing Nordic, Baltic,…
