Representatives from Lithuania’s five largest commercial banks — Citadele, Luminor, OP Corporate Bank, SEB Bank, and Swedbank — met with Prime Minister Ingrida Simonyte to express dissatisfaction with the extension of the windfall tax on bank profits, BNS reports. They voiced concerns over the unpredictability of the investment environment and the lack of cooperation between…
Lithuania will buy tracked vehicles in the second phase of the government’s plan to acquire infantry fighting vehicles (IFV), Defence Minister Laurynas Kasciunas announced, BNS reports. He said that the Defence Ministry was now in negotiations over the purchase. The minister hopes to secure approval for the procurement in the State Defence Council (VGT) in…
The commander of the Estonian Defence Forces (EDF), General Martin Herem, has calculated that funding needed for additional ammunition amounts to around EUR 3.2bn, Defence Minister Hanno Pevkur revealed, ERR reports. He said that the critical amount of funds needed was EUR 1.6bn. The calculation was based on the targets to be destroyed in a…
The Latvian parliament, the Saeima, has passed a law to dissolve the Rezekne city council due to violations in financial and budget management, LETA reports. The city council served its last day on 1 July 2024, but plans to contest the dissolution in the Constitutional Court. The Ministry of Environmental Protection and Regional Development pointed…
Latvia’s tax revenue totalled EUR 3.325bn in the first quarter of 2024, which was EUR 40.7mn (1.2%) less than planned, according to Finance Ministry data, LETA reports. Tax revenue was EUR 109.2mn (3.4%) higher than in the first quarter of 2023, however. General state budget tax revenues totalled EUR 3.126bn, which was 1.1% short of…
The free world must not fear its own strength, Estonian Prime Minister Kaja Kallas insisted, BNS reported. Speaking at a meeting with French President Emmanuel Macron in Paris, Kallas pointed out that the free world was stronger than Russia and had the resources, economic power, and knowledge to help Ukraine win the war against the…
Lithuanian Defence Minister Arvydas Anusauskas will resign, the government announced, LRT reports. Prime Minister Ingrida Simonyte explained that the government wanted to do “more and faster” for Lithuania’s security. Anusauskas revealed that Simonyte had offered him another post but he had refused. The minister said that the offer to swap posts was “unexpected.” Simonyte named…
Estonia’s ruling coalition has abandoned a plan to change the current renewable energy fee, which would have raised EUR 60mn annually and shifted costs from consumers to the state, ERR reported. The senior party in the coalition government, the Estonian Reform Party, rejected the plan, citing concerns about the plan’s financial viability. The changes were…
Estonian Prime Minister Kaja Kallas said that the likely nomination of Dutch Prime Minister Mark Rutte as NATO’s new secretary general raised the question of whether the alliance has first-rank and second-rank members, Politico reported. She pointed out that Rutte would be the fourth NATO chief from the Netherlands. “Are we equals or are we…