Lithuania’s central bank, the Bank of Lithuania, has raised its GDP growth forecast for 2024, BNS reports. The central bank now expects the GDP to grow by 2.2% in 2024, up from its previous forecast of 1.9% in June 2024. The central bank projects that the GDP will rise by 3.1% in 2025 and 3.3%…
The Baltic and Polish parliamentary committees of European affairs held a joint meeting in the Lithuanian capital, Vilnius, on 15-16 September 2024, BNS reported. The committees urged the EU to strengthen the protection of Poland’s border amid a new surge in migrant flows. Zygimantas Pavilionis, chairman of the European affairs committee of the Lithuanian parliament,…
German ferry operator TT-Line has opened a new direct ferry route between Travemünde and the Lithuanian port of Klaipeda, BNS reports, citing local newspaper Vakaru Ekspresas. The ferry will run on the route once a week. TT-Line now operates altogether seven ferries from Klaipeda: three each to Trelleborg and Karlshamn in Sweden, and now one…
Estonia’s Interior Ministry needs EUR 40mn to complete the deployment of infrastructure on the country’s border with Russia by the end of 2025, Interior Minister Lauri Läänemets estimated, ERR reports. He said that the infrastructure included fencing, technological equipment, access roads, and communication systems. The overall cost could rise to EUR 100mn if the government…
Lithuania should aim to raise its defence budget to 4% of GDP, Defence Minister Laurynas Kasciunas stated, BNS reports. He said that this would allow Lithuania to maintain existing capabilities and acquire long-range air defence systems and combat helicopters. Earlier, President Gitanas Nauseda urged to raise defence spending to at least 3.5% of GDP. Lithuania’s…
Lithuania had the highest suicide rate in the Baltic States in 2021, according to Eurostat data, LSM reports. Lithuania had 19.5 deaths by suicide per 100,000 inhabitants in 2021, which was the second-highest rate in the entire EU. The suicide rate stood at 14.01 in Estonia and 13.38 in Latvia. All three Baltic States thus…
US electric car maker Tesla has opened its first pop-up store in Lithuania, BNS reports. The store is located at the Akropolis shopping mall in Vilnius. The company plans to open a permanent store and service centre in Vilnius in early 2025, Invest Lithuania reported. Tesla’s Dutch arm, Tesla International, established a subsidiary in Lithuania…
Latvia’s banking association, Finance Latvia Association (FNA), opposes a proposed windfall tax on local banks, LETA reports. The association argued that the tax was “disproportionate, short-sighted, and nontransparent.” FNA warned that the tax would have negative long-term consequences, hampering Latvia’s growth, competitiveness, and attractiveness for private investment. The tax would oblige the financial sector to…
Lithuania has joined the US-led international initiative on strengthening cyber security, BNS reports. The initiative aims to counter the proliferation and misuse of commercial spyware. Lithuania is the first of the three Baltic States to join the initiative, which was first announced at the second Summit for Democracy.