Amid rising incomes and optimism about their financial situation, Lithuanians are spending more on food and non-essentials but are increasingly reluctant to dine out due to high restaurant prices driven by rising labour costs and the expiration of pandemic-era tax breaks, LRT reports. While supermarket food sales are boosting economic growth, restaurant turnover has fallen…
The number of poor people in need of assistance in Latvia has been decreasing in recent years in the regions of Kurzeme and Latgale, but has increased in the capital, Riga, according to the state-run Society Integration Foundation (SIF), LSM reports. More than 20% of all poor and low-income people received food aid and basic…
Slowing inflation and strong wage growth in Estonia have increased people’s purchasing power, according to the Bank of Estonia, BNS reports. In June 2024, the consumer price index rose by only 2.5% on year, which was the slowest rate in three years, primarily due to falling energy prices. At the same time, most services have…
Tax-free income in Estonia totalled EUR 4.15bn in 2023, according to the Ministry of Finance, ERR reports. In 2023, the tax-free income threshold was EUR 704 per month for pensioners and EUR 654 for working-age individuals. The ministry does not have a current forecast on the amount of tax-free income in 2024. Former prime minister…
House prices in the Baltic States rose the most in Lithuania in the first quarter of 2024, according to Eurostat data, LSM reports. Compared to the first quarter of 2023, house prices increased by 9.9% in Lithuania, 7.8% in Estonia, and 3.7% in Latvia. Compared to the fourth quarter of 2023, house prices went up…
Estonia needs to discuss the possible introduction of tuition fees in higher education, Toomas Asser, rector of the University of Tartu, stated, ERR reports. He said that maintaining the quality of education with state budget funds only was becoming unsustainable, noting that even affluent countries struggle to fund high-quality education exclusively with public funds. Asser…
Estonia’s incoming prime minister, Kristen Michal, said that the Estonian Reform Party would not propose reducing or repealing the tax-free income threshold during upcoming talks on forming a new coalition, ERR reports. Earlier, outgoing prime minister Kaja Kallas said that Reform had suggested lowering the basic income tax exemption, but that the party’s coalition partners…
A recent study reveals a significant increase in the occurrence of heat waves in the Baltic States, particularly Estonia, over the past 30 years, ERR reports. Using data from 40 weather stations in 1951-2021, the study assessed changes in heat waves using five common indices: Number, duration, total days, amplitude, and magnitude, showing a marked…
Saudi Arabia’s Foreign Minister, Prince Faisal bin Farhan Al Saud, visited Estonia, where he met with Prime Minister Kaja Kallas and Foreign Minister Margus Tsahkna, ERR reports. The discussions focused on economic and business cooperation, regional security, and human rights. Also, the foreign ministries of the two countries signed a memorandum to facilitate regular consultations….
