Three parties in Lithuania have agreed on a coalition programme and the number of ministerial posts in a new incoming government, LRT and ELTA reported. The Social Democratic Party of Lithuania (LSDP) will have nine ministers, while the Union of Democrats for Lithuania (DSVL) will have three and the Lithuanian Union of Farmers and Greens…
Latvia’s Central Election Commission (CVK) has registered a signature campaign for holding a referendum on changing the country’s state-funded pension system, LSM reports. The populist opposition party, Latvia First (LPV), initiated the referendum campaign after the Latvian parliament, the Saeima, rejected the party’s legislative proposal. The referendum campaign is very unlikely to succeed, however. Under…
Poverty in Lithuania has increased across the country, particularly in remote regions, LRT reports. Nearly 700,000 people are living below the poverty risk threshold. The average poverty level in rural areas is almost twice as high as in cities. In some municipalities, every third resident is living in poverty. Ugne Uzgale, head of strategy and…
An overwhelming majority of Latvians are worried about their life in retirement, according to a Norstat poll for insurance company ERGO, LSM reports. The survey showed that 68% of Latvian residents were anxious about retirement, including 74% of women and 62% of men. The main causes for concern were lack of money (67%), health issues…
Estonia’s opposition Estonian Centre Party (Keskerakond) and Fatherland (Isamaa) have signed a coalition agreement to govern Estonia’s capital, Tallinn, for the next four years, ERR reports. Under the agreement, the posts of mayor and city council chairman will alternate between the two parties, and the parties will have three deputy mayors each. Keskerakond’s Mihhail Kõlvart…
Latvia’s general age of retirement was raised to 65 years as of 1 January 2025, BNS reports. At the same time, the minimum time of employment to be eligible for old-age pension rose to 20 years. In 2024, the retirement age was 64 years and 9 months, while the working requirement was no less than…
Lithuanian Prime Minister Ingrida Simonyte has expressed scepticism about an idea to establish a state-run second-pillar pension fund, Baltic News Network reports. She noted that there was plenty of competition in the pension fund market, and that the activities of pension funds were well regulated. The problem was that there was not much choice on…
The Latvian government is discussing possible changes to second-tier pension funds, LETA reports. The Latvian parliament, the Saeima, will consider a public initiative opposing the government’s plan to reduce automatic second-tier pension contributions, LSM reports. The petition collected the necessary signatures in record short time. The government has proposed transferring 1% of second-pillar pension funds…
The Lithuanian government plans to allocate 3% of GDP to defence in the 2025 draft budget, Finance Minister Gintare Skaiste told Ziniu Radijas, BNS reports. However, if the economic indicators allowed, the government could borrow more for specific defence needs, she added. The minister noted that the projected 3% growth of GDP in 2025 would…
