The Latvian parliament, the Saeima, has approved amendments to introduce a reduced 12% value-added tax rate on selected basic food products in 2026, LETA reports. Under the amendments, the lower VAT rate will apply to various bread products, milk, poultry meat, and eggs. The reduced VAT will apply from 1 July 2026 to 30 June…
Lithuania recorded the largest increase in net electricity generation in the EU over 2013-2023, according to data from Eurostat, LSM reports. Lithuania’s net electricity production rose by 28.2% in the ten-year period. Latvia recorded a slight increase in electricity generation as well. Meanwhile, Estonia’s electricity generation decreased by as much as 58.5% over the same…
Altogether 564,800 households in Estonia, which is 95% of all households, now have internet access, which is 20,000 more than in 2024, according to Statistics Estonia’s survey, Estonian World reports. The survey shows that almost 100% of people aged 16-54 years use the internet. Also, internet use has increased markedly among the elderly as people…
Lithuania’s GDP rose by 3% over a year in 2024 to EUR 79bn at current prices, according to the State Data Agency’s (VDA) revised data, BNS reports. Gross value added in manufacturing rose by 2.9% and in wholesale and retail trade by 2.6% in constant prices. Growth in professional, scientific, and technical activities stood at…
Latvia’s gross energy consumption remained stable in 2024, according to provisional data from the Central Statistical Bureau (CSP), LSM reports. Gross energy consumption totalled 183 PJ, which was 1 PJ less than in 2023. Final energy consumption totalled 166 PJ, which was down 0.8% on year. Transport accounted for 47 PJ (28.4%) of final consumption,…
Estonia’s consumer price index rose by 3.5% in 2024 compared with 2023, according to revised data from Statistics Estonia. Changes in food and non-alcoholic beverage prices had the biggest impact on the index in 2024, accounting for 23.7% of the total rise. Prices of food and non-alcoholic beverages rose by 3.2%, alcoholic beverages and tobacco…
People in Latvia are more optimistic about their financial situation, according to a new SKDS poll for Luminor Bank conducted in December 2024, Baltic News Network reports. The survey showed that 42% of respondents expected their financial situation to improve in 2025, with 22% expecting much better and 21% slightly better finances. Meanwhile, 24% of…
Lithuania’s incoming centre-left government has revealed its draft programme for the next four years, LRT reports. The new coalition plans to focus on welfare, with more child benefits and better accessibility to health care and education. Also, the government may make changes to tax policy, moving towards progressive taxation. The new government plans to reverse…
Latvian municipalities have begun switching on central heating for households amid the onset of colder weather, LETA reports. Riga’s municipal housing company, Rigas Namu Parvaldnieks (RNP), began providing heating to tenants on 4 October 2024. RNP will turn off heating automatically on warmer days. The Jekabpils municipality will switch on heating in kindergartens first and…