Lithuanian economists have criticized the government’s “inaction”, saying that the country’s economy have grown despite rather than because of its economic policies. However, challenges loom ahead. […]
With falling oil prices, oil has started becoming a burden on nations that produce it but oil importers like Lithuania have been prospering from the price drop. […]
Instead of strengthening their positions abroad or looking for new markets, small and medium sized Lithuanian companies are this year planning to increase investment in expansion in domestic markets, a survey commissioned by SEB Bank shows. […]
Consumers will not see a big drop in the price of their gas following a new deal between Lithuanian gas trading company Litgas and Norway‘s Statoil which will cut the wholesale liquefied natural gas price by more than a third and reduce the maintenance costs of the LNG terminal by 23%. […]
Even the €8 increase in the average pension will not help pensioners in Lithuania, who receive one of the most frugal pensions in Europe. President Dalia Grybauskaitė is encouraging lawmakers to index pensions, which would make them increase together with growing average wages in the nation, and the prime minister, Algirdas Butkevičius, believes that indexing pensions would make them grow by up to 6 or 7 percent. […]
Non-taxable income should be increased instead of the minimum wage and that would put more money in the pocket of workers, according to Naglis Puteikis, a member of, and tapped to be leader of, Lithuania’s newest political party, Increase Tax-Exempt Income (NPD). […]
Increased household consumption and investment are increasingly driving economic growth in Lithuania – without them the Lithuanian economy could have fallen into recession in 2015, according to SEB bank economists. […]
According to Gitanas Nausėda, the advisor of the president of SEB Bank, 2015 wasn’t a very special year for Lithuania, though, considering Lithuania’s GDP growth, it would be wrong to call it a stagnant year as well. […]
Just before Christmas, Lukoil president Vagit Alekperov announced that Lukoil would start to withdraw from Lithuania and Latvia. However, for a number of Lithuanian economists it appeared strange that one of the main reasons why Lukoil said that it had decided to withdraw from Lithuania and Latvia was not linked to the company‘s move to performance optimization and a switch on the wholesale oil market, but rather the anti-Russian mood in the two countries, alfa.lt reports. […]
Between January and June 2015, Swedbank Lithuania’s chief economist Nerijus Mačiulis was quoted nearly 600 times in the media and was the most quoted opinion leader in Lithuania, a study of the market research company TNS LT shows. […]
The government’s decision to increase the minimum monthly wage by 25 euros to 325 euros in July and hints about its potential hike to 350 euros in January may be a retribution for the so-called social model, which includes amendments to the Labour Code, an analyst has said. […]
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. […]
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. […]
New mayors of Vilnius and Kaunas will have to deal with different challenges. Remigijus Šimašius, new mayor of the Lithuanian capital, will have to address the city’s financial problems and reduce heating bills, while businessman Visvaldas Matijošaitis, the new mayor of Lithuania’s second city, will have to attract more investment, says economist Gitanas Nausėda. […]
Baltic small- and medium-scale companies stick to more moderate financial growth plans for 2015. However, despite the current geopolitical tensions, they see further growth opportunities. […]
The two-thousand-strong protest rally in Moscow this week, triggered by a court sentence for anti-Kremlin campaigner Alexei Navalny and his brother, shows that, despite all the effort, Vladimir Putin‘s regime has not completely crushed the opposition in Russia. A Maidan in Moscow is probably Putin’s worst nightmare. Can it come true? […]
If stepped-up checks of Lithuanian trucks at the Russian border remain in place for an extended period of time, Lithuania’s transport sector would suffer substantial losses, which may hit hard the entire national economy, the economists have warned, adding that new Russia’s restrictions will undermine Lithuania’s competitive edge in the region, as far as re-exports of goods from the West to Russia are concerned. […]
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