Lithuania’s GDP will grow by 2.3% in 2024 and 2.9% in 2025, according to the Finance Ministry’s revised forecast, BNS reports. In June 2024, the ministry projected that the GDP would grow by 2.1% in 2024 and 2.9% in 2025. Average annual inflation will slow down to 1.0% (1.1%) in 2024, before rising to 2.5%…
Estonia’s services exports totalled EUR 3.1bn at current prices in the second quarter of 2024, which was up 3% from the same period of 2023, according to Statistics Estonia and the Bank of Estonia, ERR reports. Imports of services totalled EUR 2.3bn, which was up 3% as well. The balance of Estonia’s foreign trade in…
Latvia’s foreign trade turnover totalled EUR 23.26bn at current prices in the first seven months of 2023, which was EUR 1.52bn (6.1%) less than in the same period of 2023, according to the Central Statistical Bureau’s (CSP) provisional data, LSM reports. Exports of goods amounted to EUR 10.7bn (down 4%) and imports to EUR 12.56bn…
US private equity group TPG is in talks to invest in the Lithuanian second-hand fashion platform, Vinted, according to the Financial Times, BNS reports. Under the deal, TPG would acquire several hundred million euros worth of existing shares in Vinted. The deal would value the company at EUR 5bn. Vinted has been working with US…
Some internet domains used by Russia to meddle in the upcoming US presidential elections were purchased using the Lithuanian cryptocurrency payment platform, CoinGate, according to the US Federal Bureau of Investigation (FBI), BNS reports. CoinGate is owned by Vilnius-based Decentralized (former Virtualios Valiutos), which established a subsidiary, CoinGate, in the US in 2021. Some of…
Lithuania’s Defence Minister, Laurynas Kasciunas, urged NATO allies to form a coalition to fund Ukraine’s defence industry, BNS reports. Lithuania will allocate EUR 10mn to Ukraine for the acquisition of long-range weapons manufactured in Ukraine. Kasciunas urged other countries to do the same, either by transferring the purchased weapons to the Armed Forces of Ukraine…
Lithuania will have 15,500 professional military personnel and 50,000 soldiers in the active reserve by 2030 under the Defence Ministry’s new plan, BNS reports. Currently, Lithuania has 13,500 professional soldiers in service. Defence Minister Laurynas Kasciunas said that the Lithuanian Armed Forces (LGP) would form a new infrantry division in phases by 2030. The division…
The Lithuanian Migration Department (LMD) denied residence to almost 36,000 foreigners in the first eight months of 2024 after the introduction of tighter rules on immigration, according to the Ministry of Interior, BNS reports. LMD received altogether 67,175 residence permit applications. The number of applications to work in Lithuania from Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, and…
The Latvian government plans to restrict the ability of Russian citizens to buy land in Latvia, LETA reports. The ruling three-party coalition has agreed on the plan conceptually, following a proposal from the Ministry of Agriculture. The government will analyse the example of similar draft legislation in Finland. Latvian Foreign Minister Baiba Braze has discussed…