Global LT

Drop in expatriate remittances spells bad news for Lithuanian economy

Remittances from the Lithuanian diaspora has long played a significant role in the country’s economy. Expatriates send a lot of the money they make in the UK or Norway to their families that stayed behind in Lithuania, stimulating domestic consumption and keeping some low-earning relatives from falling into poverty. Statistics indicate, however, that remittances have dropped significantly this year. […]

Nerijus Mačiulis on Lithuanian Economy
Economy

Analyst: Technology development will make working week shorter

Technologies are inevitably changing the global labour market and will wipe out certain professions. Global trends and technological development will also change Lithuania’s labour map, which may result in a shorter working week, Nerijus Mačiulis, an economist with Swedbank Lithuania, forecasts. […]

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. […]

Vilnius City Municipality
Politics

Parties weigh strategies and options before mayoral run-offs in Vilnius

After local elections in Lithuania last Sunday, the new Vilnius City Municipality Council will include 38 male and 12 female councillors. The Electoral Action of Poles in Lithuania and the Russian Alliance Block of Valdemar Tomaševski delegated four women, the Liberal Movement, three, the Homeland Union-Lithuanian Christian Democrats (TS-LKD), two, and the remaining parties that were voted in will have one woman representative each. […]

Nerijus Mačiulis
Economy

Minimum wage may reach 350 euros in two years, says Swedbank economist

Minimum monthly wage in Lithuania may reach 350 euros at the end of 2016, chief economist of Swedbank Lithuania says, adding that this estimate is based on the government program and economic growth. […]