In his New Year address, Lauri Hussar, speaker of the Estonian parliament, the Riigikogu, outlined key challenges for Estonia in 2024, ERR reports. He emphasised the importance of transitioning to Estonian as the sole language of tuition in schools, viewing it as vital to preserving the country’s language and culture. Hussar urged unity in recognising…
Latvian Prime Minister Evika Silina’s New Year message emphasised the significance of education for the nation’s future prosperity, LSM reported. Speaking from Riga Technical University, she underscored the importance of science and learning to compete globally. Silina called for investing in children, highlighting the role of education in shaping their future. She paid tribute to…
Estonia’s Minister of Defence, Hanno Pevkur, said that the Estonian Defence Forces believed that the country’s defence spending could rise to 4.5% of GDP, ERR reports. However, Pevkur emphasised the need for a “reasonable limit” due to investments in health care, social welfare, and education. He acknowledged the desire for increased spending on defence given…
Latvian businesses urge the government to ease the rules on the entry of foreign labour into the country, LSM reports. Speaking at a conference on human capital development in the Latvian parliament, the Saeima, business representatives and market analysts noted that Latvia’s human resources were exhausted. They called for improving labour availability through relaxed rules…
Estonia’s central bank, the Bank of Estonia, foresees growing unemployment in the near future, ERR reports. Orsolya Soosaar, economist at the Bank of Estonia, expects the country’s unemployment rate to reach double digits in 2024. In late September 2023, the central bank forecast that unemployment would rise to 8% in 2024. Soosaar said that the…
Lithuania’s real GDP totalled EUR 53.2bn at current prices in the first nine months of 2023, which was down 0.5% from the same period of 2022, according to the State Data Agency’s first estimate, BNS reports. In the third quarter of 2023, the GDP totalled EUR 19.2bn, which was up 0.1% from a year earlier….
The average level of consumer prices in Latvia rose by 3.3% in September 2023, compared to the same period of 2022, according to the Central Statistical Bureau’s data, LSM reports. The rise in food prices accounted for 1.5 percentage points, alcohol and tobacco for 0.6 percentage points, and health care for 0.6 percentage points of…
Estonia’s Prime Minister, Kaja Kallas, has submitted the draft state budget for 2024 to the parliament, the Riigikogu, for debate, ERR reports. Budget revenues will amount to EUR 16.79bn, expenses to EUR 17.67bn, and investments to EUR 0.82bn. The budget deficit is estimated at EUR 1.19bn or 2.8% of GDP, and the government therefore plans…
The Latvian government does not plan to make major changes to taxation in 2024, Finance Minister Arvils Aseradens assured, LSM reports. He said that now was not a good time to make changes in VAT, labour taxes, personal income tax, or corporate income tax. However, the Ministry of Finance will propose raising the excise duties…
