People in Lithuania are more optimistic about the economy, according to a new Baltijos Tyrimai poll for ELTA conducted in October-November 2024, Lietuvos Rytas reports. The survey showed that 40% of respondents believed that the country’s economic situation had deteriorated in the past two months, which was down from 54% a year earlier. Meanwhile, 43%…
Lithuania will propose that the three Baltic States build a joint power plant to ensure flexible electricity production and energy security, Lithuanian Energy Minister Zygimantas Vaiciunas announced, BNS reports. Speaking on LRT, the minister suggested that the power plant could run on gas. He did not elaborate on the possible technology and location of the…
The average annual price of electricity in Estonia stood at EUR 87.27 per MWh in 2024, which was down from EUR 90.79 per MWh in 2023, according to data from the Nord Pool electricity exchange, ERR reports. The highest average price was in January 2024 (EUR 126.5 per MWh) and the lowest in April 2024…
There is currently no threat of a full-scale Russian attack against the Baltic States, the outgoing commander of the Latvian National Armed Forces (NBS), Leonids Kalnins, stated, FREEDOM reports, citing DELFI. He pointed out that Russia was currently tied in the war of aggression against Ukraine and suffering “significant losses.” While Russia still had capacity…
Latvia’s general age of retirement was raised to 65 years as of 1 January 2025, BNS reports. At the same time, the minimum time of employment to be eligible for old-age pension rose to 20 years. In 2024, the retirement age was 64 years and 9 months, while the working requirement was no less than…
Latvia’s minimum monthly wage rose from EUR 700 to EUR 740 as of 1 January 2025, BNS reports. The minimum wage will gradually transition to a percentage of the national average wage. Welfare Minister Uldis Augulis said that the change would improve the living standards of lower-paid workers. According to data from the Central Statistical…
Estonia’s exports of services totalled EUR 3.2bn in the third quarter of 2024, which was up 8% from the same period of 2023, according to data from Statistics Estonia and the Bank of Estonia, ERR reports. Imports of services into Estonia totalled EUR 2.4bn, which was up 2% over a year. Estonia’s trade surplus in…
Latvia and Lithuania refused to accept a new package of EU sanctions against Russia that would have allowed companies to continue doing business in Russia, BNS reports. Three unnamed EU diplomats told Politico that Latvia and Lithuania blocked a clause that included exceptions allowing EU companies to continue importing and exporting sanctioned goods. The clause…
Average consumer prices in Latvia rose by 2.2% in November 2024 when compared to the same period of 2023, according to data from the Central Statistical Bureau (CSP), LSM reports. Compared to October 2024, average consumer prices rose by 0.2%. Since 2015, overall consumer prices have risen by 46.4%.