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…
The Baltic States will present a capability development plan at the upcoming NATO summit in Washington, BNS reports. Estonian President Alar Karis emphasised the need for increased defence spending, suggesting a minimum target of 2.5-3% of GDP. Lithuanian President Gitanas Nauseda pointed out that Lithuania’s defence spending has already reached 3% of GDP in 2024….
Nearly 1,000 Jews have submitted claims for compensation for property illegally expropriated in Lithuania during the 20th century, BNS reports. The Good Will Foundation (GVF), which handles the claims, is currently evaluating 951 applications. The evaluation process involves three stages: checking administrative eligibility, review by the restitution committee, and final decision by the foundation’s board….
Slowing inflation and strong wage growth in Estonia have increased people’s purchasing power, according to the Bank of Estonia, BNS reports. In June 2024, the consumer price index rose by only 2.5% on year, which was the slowest rate in three years, primarily due to falling energy prices. At the same time, most services have…
The Lithuanian Armed Forces (LGP) will send members of its Redeployable Communications and Information Systems Module to take part in a NATO training mission in Iraq, BNS reports. During the four-month mission, the specialists will provide communications support to ensure uninterrupted command and control in the area of operations. The operation’s aim is to train…
Lithuania’s Foreign Minister, Gabrielius Landsbergis, chairman of the ruling Homeland Union, would make an excellent European commissioner, Prime Minister Ingrida Simonyte stated, BNS reports. Speaking in an interview with Info TV, Simonyte stopped short of confirming that Landsbergis was among the candidates for the position, noting that negotiations were still ongoing. President Gitanas Nauseda expects…
US technology company Google has removed the official accounts of EU-sanctioned Russian performers, following a request from the Lithuanian Radio and Television Commission (LRTK), BNS reports. LRTK asked Google to remove the YouTube accounts of several Russian artists who have been placed under EU sanctions for actively supporting Russia’s war against Ukraine.