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…
Lithuanian President Gitanas Nauseda does not expect the country’s three-party coalition government to survive, BNS reports. Earlier, Remigijus Zemaitaitis, chairman of the far-right Dawn of Nemunas party, expressed doubts about raising defence spending and labelled Ukraine a corrupt country, LRT reported. Speaking in an interview with Verslo Zinios, Nauseda accused Zemaitaitis of discrediting “not only…
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”…
Latvia’s national air carrier, airBaltic, has no plans to ask the government for more money, CEO Martin Gauss stated, LSM reports. Speaking in an interview with LTV, Gauss said that the company had to raise additional capital from international investors on the stock market instead. Earlier, Klavs Vasks, chairman of airBaltic’s supervisory board, surmised that…
The Baltic and Polish transmission system operators (TSO) plan to apply for around EUR 600mn of EU funding for infrastructure investments from the Connecting Europe Facility (CEF), ERR reports. The funds would be divided equally between the four companies. The companies would use the funds for investments in protecting their critical energy infrastructure. Kalle Kilk,…
Raising Lithuania’s defence spending to 4% of GDP would allow the country’s new army division to reach full operational capacity by 2030, Lithuania’s defence chief, General Raimundas Vaiksnoras, stated, Baltic News Network reports. Lithuania’s new government has increased its borrowing limit for 2025 by around EUR 800mn. The full amount would raise the defence budget…
Latvia’s national air carrier, airBaltic, cannot meet its obligations and achieve its strategic objectives if the company continues to operate with negative equity, supervisory board chairman Klavs Vasks stated, LETA reports. An additional capital injection from the state is therefore probably inevitable unless the government is prepared to privatise the company, Vasks said. The investment…
Breaking up Estonia’s state-owned energy group, Eesti Energia, would not improve energy security, Finance Minister Jürgen Ligi stated, ERR reports. Speaking in an interview with Vikerraadio, Ligi insisted that Eesti Energia provided an essential service for society. He said that building a new gas power plant in Narva was a “good idea,” but stressed the…
Estonia is due to receive a US-made M142 High Mobility Artillery Rocket System (HIMARS) and other artillery and air defence systems soon, Defence Minister Hanno Pevkur announced, ERR reports. Estonia will receive an IRIS-T medium-range air defence system, 18 different mobile artillery pieces, around EUR 700mn worth of ammunition, nearly 200 armoured vehicles, and various…