Latvia’s general government deficit totalled EUR 849.6mn in 2024, according to the methodology of the European System of Accounts (ESA 2010), the Ministry of Finance announced, LETA reports. The deficit amounted to 2.1% of GDP, which was 0.3 percentage points lower than in 2023. The general government debt totalled EUR 19bn at the end of…
The total turnover of retail trade enterprises in Estonia amounted to EUR 10.4bn in 2024, which was down 3% from 2023, according to preliminary data from Statistics Estonia, Baltic News Network reports. Retail sales in grocery stores fell by 3% and in stores selling manufactured goods by 4% over a year. Retail sales of automotive…
The four policy priorities of Latvia’s coalition government in 2025 are “security, support for families, economic growth, and reducing bureaucracy,” Prime Minister Evika Silina announced, LSM reports. She will begin individual meetings with ministers to discuss the priorities, according to LETA. Silina said that national security remained the government’s most pressing priority, highlighting the need…
Latvia will have to raise its defence budget to at least 4% of GDP in the coming years, President Edgars Rinkevics stated, LSM reports. Speaking after a meeting with Prime Minister Evika Silina, Rinkevics insisted that the current defence spending of 3.45% of GDP was not enough. He noted that Latvia had “a rather serious problem”…
Finnish President Alexander Stubb and Estonian Prime Minister Kristen Michal will host a summit of Baltic rim NATO countries in Helsinki on 14 January 2025 to discuss the security of critical undersea infrastructure and Russia’s shadow fleet, ERR reports. Political leaders from all Baltic rim NATO countries, NATO Secretary General Mark Rutte, and European Commission…
Parties in Latvia’s coalition government have postponed decisions on possible changes to the management of the country’s national air carrier, airBaltic, LSM reports. Prime Minister Evika Silina said that the government would wait for decisions of airBaltic’s shareholders. She noted that airBaltic was partly privately-owned, and that the government did not manage the company directly….
People in Latvia are more optimistic about their financial situation, according to a new SKDS poll for Luminor Bank conducted in December 2024, Baltic News Network reports. The survey showed that 42% of respondents expected their financial situation to improve in 2025, with 22% expecting much better and 21% slightly better finances. Meanwhile, 24% of…
The Lithuanian government may change the terms of a tender for the right to build a second 700 MW offshore wind farm in the Baltic Sea, Energy Minister Zygimantas Vaiciunas announced, Baltic News Network reports. Speaking in an interview with Ziniu Radijas, Vaiciunas said that the Energy Ministry was looking for solutions to ensure the…
Lithuania should not support the ratification of the EU-Mercosur Association Agreement, Lithuania’s Agriculture Minister, Ignas Hofmanas, stated, Baltic News Network reports. Speaking in an interview with LRT, Hofmanas insisted that Lithuania should wait for the European Commission’s “detailed explanation” of the free trade agreement. Earlier, the rural affairs committee of the Lithuanian parliament, the Seimas,…