Lithuania will begin issuing defence bonds after 1 October 2024, Finance Minister Gintare Skaiste announced, BNS reports. The defence bonds will have a maximum interest rate of 2%, which is lower than on savings certificates. The lower rate will ensure that the state borrows for defence at a rate that is cheaper than the market…
The Lithuanian government plans to invest around EUR 17.56mn in counter-mobility measures over 2024-2027, the Ministry of Defence announced, BNS reports. The plan is to deploy counter-mobility defence installations along the border with Belarus and Russia’s Kaliningrad (Königsberg) region by April 2025, reserve barriers on major national roads and bridges by November 2025, and drainage…
The number of temporary residence permits issued to foreigners in Lithuania declined for the first time in the first half of 2024, according to data from the Lithuanian Migration Department (LMD), BNS reports. At the same time, the number of permit renewals increased several times. LMD issued 78,121 temporary residence permits to foreigners in six…
Estonian car-sharing company Elmo and Swedish charging solutions provider Elonroad have opened the world’s first fully automatic charging station for teledriven cars in Tallinn, BNS reports. The stations will allow Elmo to minimise charging interruptions and reduce labour costs. Teledriving technology enables controlling vehicles remotely.
Lithuanian Interior Minister Agne Bilotaite has requested financial support from the EU to strengthen the protection of the country’s border with Russia, BNS reports. In a letter to EU Commissioner for Home Affairs Ylva Johansson, Bilotaite emphasised the need to modernise and update border surveillance systems, with costs estimated at nearly EUR 16mn and required…
Lithuanian President Gitanas Nauseda will raise the issue of NATO’s response to recent Russian hybrid attacks at the alliance’s summit in Washington, his chief national security adviser, Kestutis Budrys, said, BNS reports. Speaking in an interview with Ziniu Radijas, Budrys insisted that NATO had to respond to attacks when there was clear attribution. He suggested…
Lithuania’s central bank, the Bank of Lithuania, has proposed a comprehensive review of existing tax exemptions, income and wealth taxation, and reducing the VAT gap to increase budget revenue as the population ages, BNS reports. Vaidotas Tuzikas, principal economist at the Bank of Lithuania, noted that Lithuania’s ratio of tax collection to GDP of 4.5%…
The budget and finance committee of the Lithuanian parliament, the Seimas, has approved a proposal to link state budget funding for the public broadcaster, Lithuanian National Radio and Television (LRT), to GDP growth as of 2026, BNS reports. Under the plan, LRT would continue to receive 1% of government income tax revenue and 1.3% of…
Lithuania will buy mobile short-range air defence systems from Sweden’s Saab Dynamics for EUR 147mn, the Ministry of Defence announced, BNS reports. The ministry’s Defence Materiel Agency (GRA) has signed a contract on buying the RBS70 NG (MSHORAD) systems, with delivery scheduled for 2025-2027. Defence Minister Laurynas Kasciunas said that the advantage of the systems…