Electricity prices in Estonia will increase significantly following the planned decoupling from the Russian electricity grid in February 2025, Postimees reports. Currently, the rate for production and consumption stands at just EUR 0.04 per MWh. Estonia’s transmission system operator, Elering, has proposed raising the rate to as much as EUR 5.31 per MWh, largely due…
Lithuanian media group 15min Group will acquire the local radio station network, M-1, from Ruta Grusniene for an undisclosed sum, BNS reports. 15min Group, which is majority-owned by Estonia’s Postimees Group, plans to close the deal by the end of summer 2024, subject to regulatory approval. The M-1 group owns local radio stations M-1, M-1…
The defence ministers of the Baltic States have signed an agreement on building “anti-mobility defensive installations” on their borders with Russia and Belarus, Estonia’s Defence Ministry announced, ERR reports. The Baltic defence line will include bunkers, support points, and distribution lines. Estonia plans to begin building the bunkers in early 2025. The number of bunkers…
Estonian media group Ekspress Grupp will stop publishing its daily newspaper, Eesti Päevaleht, in print as of April 2024, ERR reports. Ekspress Grupp said that the move was due to changes in consumer behaviour. Eesti Pävaleht will continue as a digital publication under the DELFI news portal’s opinion, culture, and weekend sections. Eesti Päevaleht’s print…
Estonia may deport permanent residents who choose to take Russian citizenship, Prime Minister Kaja Kallas confirmed, ERR reports, citing Postimees. Earlier, Interior Minister Lauri Läänemets said that stateless persons who took Russian passports were likely to have their Estonian residence permits revoked and face deportation. Kallas argued that an individual who chooses to obtain Russian…
Estonia will issue 10-year bonds for EUR 1bn to cover the state budget deficit in 2024, ERR reports. Sven Kirsipuu, deputy secretary general of the Ministry of Finance, said that the bond issue would cover about half of the state’s borrowing needs in 2024. Preliminary indications suggested that investor interest in Estonian bonds remained strong,…
The Estonian government has agreed on the state budget for 2024, Prime Minister Kaja Kallas announced, ERR reports. Under the agreement, the government will introduce no new taxes in addition to ones implemented earlier. The government will not impose a new tax on commercial banks, which will instead pay more taxable dividends. Also, the government…
The financial intelligence units (FIU) of the Baltic States have conducted a first joint study of cash flows in the region, BNS reports. The study showed that the risks and vulnerabilities related to the flow of cash have changed in the region in 2019-2022. While there is a significant flow of cash from all three…
Estonia’s real GDP will decline by 2.0% in 2023, according to the Ministry of Finance’s latest forecast, BNS reports. The GDP will grow by 2.7% in 2024, by 3.0% in 2025, by 2.5% in 2026, and by 2.2% in 2027, the ministry projects. Earlier, the ministry expected real GDP to drop by 1.5% in 2023…