The number of unemployed people in Latvia totalled 63,100 at the end of 2023, which was 700 more than in the same period of 2022, according to the Central Statistical Bureau’s (CSP) estimate, LSM reports. The country’s actual unemployment rate stood at 6.6%, which was unchanged from a year earlier. The number of unemployed men…
The Baltic States support banning the import of grain from Russia and Belarus into the EU, according to the Lithuanian Transport Minister, Marius Skuodis, BNS reports. He discussed the issue with Latvian Transport Minister Kaspars Briskens and Estonian Climate Minister Kristen Michal. The ministers agreed to coordinate actions and avoid national initiatives. Earlier, Skuodis noted…
Estonia’s three-party ruling coalition will meet on 30 January 2024 to discuss the state of the coalition, according to Foreign Minister Margus Tsahkna, chairman of Estonia 200 (E200), ERR reports. Tsahkna said that E200 would propose ways to revitalise the economy, including measures to reform education, ensure labour and capital availability, and stabilise energy prices…
The Latvian government, which took office in September 2023, has approved a plan of action, LSM reports. The plan foresees 269 specific measures in line with the government declaration. The action plan is divided into three main priorities: “Prosperous Latvia,” “Safe Latvia,” and “Latvian and inclusive Latvia.” All state institutions must submit reports on the…
The Baltic States continue to have the highest loan interest rates in the eurozone, according to data from the European Central Bank (ECB), ERR reports. The average interest rate in the three Baltic countries was 5.9% at the end of November 2023. The eurozone average stood at 4.1%. Meanwhile, the average interest on consumer loans…
Food prices in Latvia will grow by less than 4% in 2024, Ieva Opmane, economist at the Bank of Latvia, forecast, LSM reports. The price hike will be higher than average inflation but much less than in 2023 and 2022, she said. The rise in food prices will depend on consumer income, energy prices, harvests,…
The number of new layoffs in Estonia totalled 3,500 in 2023, which was 22% more than in 2022, according to data from the Estonian Unemployment Insurance Fund (Töötukassa), ERR reports. Around a third of those laid off were formerly employed in the manufacturing and another third in transport and storage. The biggest number of layoffs…
The chairmen of the foreign affairs committees of the Baltic parliaments, Estonia’s Marko Mihkelson, Latvia’s Rihards Kols, and Lithuania’s Zygimantas Pavilionis, praised Taiwan’s presidential and legislative elections held on 13 January 2023, LSM reports. In a joint statement, they said that the elections demonstrated the strength of Taiwan’s “robust democratic system,” saying that the country…
Housing prices more than tripled in Estonia between 2010 and the third quarter of 2023, rising by 210%, according to Eurostat data, LSM reports. Meanwhile, housing prices more than doubled in Lithuania (up 158%) and Latvia (up 141%) over the same period. The increase in rents was the EU’s highest in Estonia (up 218%) and…