Inflation in Estonia is expected to increase as of autumn 2024, with overall inflation projected to reach 4% by the end of the year, according to some analysts, ERR reports. The analysts attribute the anticipated rise to persistently high energy prices and wage growth driving up service costs. Despite a significant 40% surge in grocery…
Lithuania will begin issuing defence bonds after 1 October 2024, Finance Minister Gintare Skaiste announced, BNS reports. The defence bonds will have a maximum interest rate of 2%, which is lower than on savings certificates. The lower rate will ensure that the state borrows for defence at a rate that is cheaper than the market…
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 Investment and Development Agency of Latvia (LIAA) attracted 28 foreign investment projects in the first half of 2024, LSM reported. The projects will bring investments of EUR 263mn and create 1,245 new jobs. Altogether 13 of the projects are in Riga, 9 in Kurzeme, 3 in Latgale, 2 in Vidzeme, and 1 in Zemgale….
Consumer prices in Latvia rose by 1.4% in June 2024, compared to the same month in 2023, according to data from the Central Statistical Bureau of Latvia (CSP), LETA reports. Compared to May 2024, consumer prices dropped by 0.1%, however. Average prices in a 12-month period rose by 1.9% when compared to the previous 12…
The constitutional and finance committees of the Estonian parliament, the Riigikogu, have decided to amend the car tax bill, ERR reports. Earlier, President Alar Karis rejected the bill, arguing that it violated the principle of equal treatment. Constitutional committee chairman Hendrik Johannes Terras and finance committee chairwoman Annely Akkermann said that discussions with various ministries…
Estonia’s ruling coalition parties have agreed to boost Estonia’s economic competitiveness by developing new industries and focusing on nationwide development, ERR reports. The three parties aim to reduce bureaucracy and use EU funds and CO2 money for industrial growth. The coalition plans to distribute subsidies for large investments across Estonia to raise wages and improve…
Latvia ranks highest in the Baltic States in achieving the UN’s sustainable development goals, according to the UN’s Sustainable Development Report 2024, LSM reports. Latvia ranked 13th in the sustainable development index, which was up from 14th place in 2023. Estonia ranked 15th, while Lithuania was on 31st place. Latvia’s overall score on the index…
Traffic on roads in Estonia reached a new all-time record in 2023, according to data from the Estonian Transport Administration (Transpordiamet), ERR reports. The total volume of vehicle mileage amounted to 11.9bn km in 2023, which was up 2.4% from 11.6bn km in 2022. Passenger cars accounted for 72.3% of the total mileage, followed by…
