Defence
Lithuania to spend 1.46 percent of GDP on defence next year, minister says
Lithuania plans to spend 1.46 percent of its GDP on defence next year, the country’s Minister of National Defence Juozas Olekas says. […]
GDP
Economy
Central bank projects slower growth for Lithuanian economy
The Bank of Lithuania forecasts that this year, due to the worse situation of exporters, the country’s GDP will grow 2 percent. The previous forecast was 2.7 percent. Next year, economic development is projected to accelerate to 3.4 percent (the previous projection was 3.5 percent). […]
Politics
Lithuanian president delivers State of the Nation address: The world is not a peaceful place
Lithuanian President Dalia Grybauskaitė made her annual State of the Nation address at the Lithuanian parliament, Seimas, on Thursday. In her speech, the president mostly focused on national defence, security challenges stemming from Russia‘s aggressive policies, as well as emigration of working-age population. Grybauskaitė also stressed the need to work more on addressing social issues, particularly in childcare institutions. […]
Economy
IMF calls Lithuania’s economic comeback impressive
On 28 May, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Lithuania. It considered and endorsed the staff appraisal without a meeting, the organisation reports. […]
Economy
EC recommendations for Lithuania: less tax on labour, more tax on wealth
Lithuania has received recommendations from the European Commission on the most pressing issues in the economy that need addressing. Disturbingly, over 30 percent of people in Lithuania face poverty risk, labour taxes are punishing, while levies on wealth – less detrimental to economic growth – are all but non-existent. Experts say the first steps would be introducing tax on real estate and cars. […]
Economy
Economy
Will Lithuania survive without EU structural funds?
This is the last financial period that Lithuania is entitled to billions of euros in support from the European Union‘s structural funds. After 2020, the cash flow from the EU coffers will decrease significantly and Lithuania will have to learn to do without the support that currently makes a sizable contribution to its economy. Some economists say that unless the country uses the current funding right, economic growth after 2020 might all but stop. Others are more optimistic, insisting that Lithuania’s economy is stable enough to sustain growth even without EU injections. […]
Economy
EC revises Lithuania’s economic growth forecast
The European Commission (EC) announced in its Spring 2015 Economic Forecast that Lithuania’s gross domestic product (GDP) is expected to grow by 2.8 percent, whereas domestic consumption should be the major factor determining economic growth. […]
Economy
Major structural shifts pushed Lithuania closer to advanced economies over last decades
The structure of Lithuania’s economy has clearly changed over the last two decades, an economist says. […]
Society
Lithuania ranked 56th in World Happiness Report
Based on the latest survey, the World Happiness Report 2015, Lithuania is 56th on the list of the world’s happiest countries. The report was produced by the Sustainable Development Solutions Network (SDSN) on the United Nations initiative and includes 158 countries. […]
Economy
IMF classifies Lithuania as advanced economy
On Tuesday, 14 April, the International Monetary Fund (IMF) published its World Economic Outlook in which Lithuania has been classified as an advanced economy. Previously the IMF regarded Lithuania as an emerging market. […]
Economy
Economy
FDI flow into Lithuania down while Lithuania’s direct investment abroad up
In 2014, the foreign direct investment (FDI) flow into Lithuania increased, while the Lithuanian direct investment abroad decreased, Statistics Lithuania and the Bank of Lithuania report. […]
Economy
Economy
Lithuania will have hard time meeting this year’s budget targets, economist says
After the International Monetary Fund has warned that Lithuania this year is facing serious challenges in public finances, an economist says that meeting this year’s budget targets will not be easy. […]
Economy
IMF revises down GDP growth forecasts for Lithuania
The International Monetary Fund (IMF) has revised down its forecast for Lithuania’s economic growth this year to 2.8 percent, from 3.3 percent projected last October. […]
European Union
Current EU Structural Funds programming period to be last for Lithuania, PM says
Prime Minister Algirdas Butkevičius says that the European Union Structural Funds programming period for 2014-2020 will most likely be the last one for Lithuania, therefore funds should be allocated to improve economic and business conditions in the country’s regions. […]
Economy
Lithuania revises economic growth projections
After evaluating Lithuania’s economic situation and the impact of external factors on its economic growth tendencies, the Ministry of Finance has revised main macroeconomic projections for 2015-2017 and prepared projections for 2018. […]
Economy
Bank of Lithuania revises down GDP growth forecast
The Bank of Lithuania forecasts that the domestic demand-driven Lithuanian economy will continue growing, albeit at a slower pace than previously expected. The worse outlook for the Russian economy, determined by persisting geopolitical tensions and falling oil prices, will have an essential influence on this change, the central bank said. […]
Economy
Lithuania should put off minimum wage hike amid worsening economic outlook, analyst says
Lithuania’s authorities should postpone plans for a minimum wage hike after the central bank on Friday cut its GDP growth forecast for this year, a senior expert at the Lithuanian Free Market Institute (LLRI) said. […]