Danish economist Morten Hansen and Romas Lazutka, professor at Vilnius University, argue that Lithuania‘s economy has caught caught up with those of Greece and Portugal. The two scholars and Žilvinas Šilėnas, the president of the Lithuanian Free Market Institute, provide different explanations why. […]
Economic recovery in the euro area and the European Union as a whole is now in its third year. It should continue at a modest pace next year despite more challenging conditions in the global economy, the European Commission said. […]
The latest data provided by Statistics Lithuania has showed that the country’s economy grew by 1.8 percent in the third quarter of 2015. This is the best result achieved this year, demonstrating that Lithuania’s economy is gradually recovering from the lowest growth period since the 2008-2009 crisis. […]
The Seimas, the Parliament of Lithuania, has accepted for consideration the 2016 state draft budget law after discussions and questions to Finance Minister Rimantas Šadžius. […]
Finance Minister Rimantas Šadžius believes there still is a chance that at the end of 2015 Lithuania’s gross domestic product (GDP) growth will exceed 2 percent. […]
Prime Minister Algirdas Butkevičius says that the 2016 draft budget, which will be submitted to Parliament on Tuesday, is aimed at stimulating domestic consumption and economic growth. […]
In 2014 state-owned enterprises (SOE) remained an important part of Lithuania’s economy – their input in economy accounted for 3 percent of GDP. In 2014 SOEs earned total revenue of EUR 2.3 billion, which is by 5.6 percent more compared to 2013. Moreover, their normalised net profit increased by nearly 2 percent to EUR 150 million, while their estimated market value grew by 11 percent to EUR 5 billion. […]
Professional services firm Ernst & Young (EY) has published its latest economic forecast for the euro area. It is projected that Lithuania’s GDP growth will stand at 2.1 percent in 2015 and 3.6 percent in 2016. Meanwhile, GDP growth in the euro area will stand at 1.6 and 1.8 percent respectively. […]
Lithuanian Finance Minister Rimantas Šadžius says that next year’s budget has been drafted to give a boost to the country’s slowing-down economy, noting planned increases in the minimum wage, in the non-taxable income tax threshold and in salaries for public sector employees will stimulate domestic consumption. […]
Economists at the Bank of Lithuania, have revised down the country’s 2015 economic growth forecasts in view of latest trends in the domestic and foreign markets. However, employment and average wages will continue to grow, while decreasing general price level will increase the purchasing power of the population. […]
Lithuanian Prime Minister Algirdas Butkevičius says if defence funding continues to be raised at the current rate, Lithuania’s spending on defence will reach the set goal of 2 percent of GDP earlier than planned. Still, the prime minister notes that actual funding will depend on Lithuania’s economic situation. […]
Lithuania hopes to reach a national defence spending level of 2 percent GDP by 2018, two years earlier than was originally estimated, Lithuanian President Dalia Grybauskaitė said on Thursday. […]
DNB Bank’s chief economist for the Baltic states Jekaterina Rojaka says that shock therapy will be for the better of Lithuania’s economy. […]
Economist Dr.Zoltan Pogatsa believes that the Eurozone states of the former Eastern bloc have been duped by the major powers into firmly opposing Greece. They are being led to believe that Athens is damaging to their economies. It’s all a deception, the Hungarian professional of political economy argues, as Eastern Eurozone members’ money never actually went to Greece, but to Brussels, in order to support the euro. […]
Lithuania plans to spend 1.46 percent of its GDP on defence next year, the country’s Minister of National Defence Juozas Olekas says. […]
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