Economy
Lithuania’s economy to face sustainability challenges
Despite Russia’s embargo and the complicated situation in top export markets, Lithuanian economic growth in 2014 will be among the fastest in the EU member states. […]
GDP
Economy
PM insists Lithuania’s 2015 budget bill does not breach Fiscal Discipline Law
Lithuania’s 2015 budget bill does not contravene the Law on Fiscal Discipline, Prime Minister Algirdas Butkevičius insists. […]
Economy
Auditors say Lithuania’s 2015 budget bill violates Fiscal Discipline Law
The growth of expenses projected in Lithuania’s 2015 budget bill contravenes the Law on Fiscal Discipline and the expected growth of tax revenue is overly optimistic, the National Audit Office said in conclusions published on Monday. […]
Economy
Lithuanian economy to grow fastest in Baltics in 2014-2015
According to the latest EU economic growth report of the European Commission, Lithuania will see the fastest growth in the Baltics in 2014 and 2015. […]
Economy
Can Lithuania replicate the “Irish miracle”?
The first decade in the European Union has been good for Lithuania. There is still much to be done, however, if Lithuanians want make full use of their EU membership in the years to come. […]
European Union
EC downgrades EU’s GDP growth expectations
In its autumn forecast the European Commission has reduced economic growth expectations both for the European Union and the euro area in 2014 and 2015. Slow recovery with very low inflation is expected. […]
Defence
Parliament panel suggests adding EUR 10m to Lithuanian defence budget
The Lithuanian parliament’s Foreign Affairs Committee has suggested earmarking additional 34.3 million litas (EUR 9.9m) for defence next year. […]
Economy
Forecasts for Lithuanian economy: We will experience turbulence rather than a free fall
Lithuania’s real economy is experiencing a state similar to that of an airplane passenger who was warned by the pilot about upcoming turbulence – the feeling is definitely not the best, yet there is no need for an oxygen mask, says financial analyst Gitanas Nausėda, advisor to the SEB bank president. […]
Economy
Economy
Finance minister presents national budget proposal to Lithuanian parliament
Lithuania’s 2015 budget bill will be adjusted if there is reason to believe that the growth of the country’s economy is slightly lower than the currently forecasts, the finance minister has said. […]
Economy
Finance minister: Lithuania’s economic growth won’t be explosive next year
Despite criticism of the Finance Ministry’s optimistic Lithuanian GDP growth forecasts for next year, Finance Minister Rimantas Šadžius says that the country’s economic growth will be faster than in the euro zone but “not explosive” and warns that difficulties caused by the crisis in the EU-Russia relations will be long-lasting. […]
Economy
IMF estimates Lithuanian GDP growth at 3 percent
International Monetary Fund (IMF) forecasts that Lithuania’s GDP will grow 3 percent this year and 3.3 percent next year. […]
Economy
IMF warns Lithuanian government might be too lavish in planning 2015 budget
With Lithuania’s authorities planning to increase spending on national defence and to compensate for pension cuts, the economy might not grow fast enough to support increases in public spending and the government next year may have to broaden the revenue base and cut back on some expenses, the International Monetary Fund (IMF) said on Tuesday. […]
Society
Lithuanian education system hampers innovation, economist says
The education system oriented at academic achievements prevents Lithuania from becoming an innovative country. It does not promote innovative thinking, entrepreneurship and is impeding such traits says senior economist at Swedbank Laura Galdikienė. […]
Politics
Lithuanian government approves its first budget in euros
The Lithuanian Cabinet on Friday endorsed a draft budget for 2015, the first year of the country’s eurozone membership. Finance Minister Rimantas Šadžius has said that the bill is to be submitted to parliament for approval no later than 17 October. […]
Defence
Economy
Lithuania could lose up to 5 percent of GDP due to Russian sanctions
Analysts at SEB Bankas estimate that Lithuania’s maximum economic losses in case of Russia‘s complete import ban could reach up to 5 percent of the gross domestic product, noting that such losses would be quite painful. […]
Economy
Lithuania to be most affected by Russia’s import ban, says EBRD
Lithuania will likely feel the most severe effects of Russia‘s ban on food imports from the European Union as the country’s ratio of food exports to Russia to GDP is the highest in the bloc, the European Bank for Reconstruction and Development (EBRD) said. […]
Economy
Lithuania ranked 41st in Global Competitiveness Index
Lithuania has continued its climb up the Global Competitiveness Index, and is now ranked in the 41st spot. This year Lithuania is ahead of neighbouring Poland, and ranked better than Latvia, Italy, Turkey and Bulgaria, public enterprise Invest Lithuania informs. […]
Defence
Poorer economic forecasts won’t affect Lithuania’s defence budget
Forecasts suggest that Russia’s restrictions on imports from the European Union will have a negative effect on Lithuania’s economy; however, this will not affect the country’s 2015 defence budget, Prime Minister Algirdas Butkevičius says. […]