Nerijus Mačiulis, chief economist at Swedbank Lithuania, says that although Lithuania’s economy contracted by 0.6 percent in the first quarter of this year, such an economic stumble nevertheless did not halt job creation or growth of wages: the number of employed people rose by 1.7 percent in a year, while an annual growth of average wages stood at 4.3 percent. […]
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. […]
A study of the expenses of households carried out by Swedbank’s Institute of Private Finances has revealed that Lithuanians spend less money on food than Latvians and Estonians. A family of four people that lives in Vilnius spends EUR 291 per month on recommended food products. The same food products cost in Riga by 7.2 percent more – EUR 312, whereas in Tallinn by 2.7 percent more – EUR 299. […]
In January the prices of consumer goods and services declined by 1.5% in annual terms and by 1.3% in monthly terms. This was the biggest annual deflation since 2003. Average annual inflation was at 0%. […]
The decision by Maxima LT, Lithuania’s largest retailer that has been slapped with a 16.9-million-euro fine for anti-trust violations, to lower prices for over 1,000 products may have a positive effect on the economy, if it leads to increased competition among retail chains, Nerijus Mačiulis, the chief economist at Swedbank, said on Tuesday. […]
Most of the winners in Lithuania’s first Top Employer awards, held in Vilnius this week, were foreign investors, Invest Lithuania reports. […]
Continuing geopolitical tensions in Eastern Europe will continue to affect Lithuania’s economy in 2015, says Nerijus Mačiulis, chief economist at Swedbank. […]
In the last month of 2014 the prices of consumer goods and services declined by 0.3% in annual terms and by 0.6% in monthly terms. On average consumer prices were 0.1% higher in 2014 than in 2013. […]
In October the prices of consumer goods and services increased by 0.1%, both in annual and in monthly terms. Average annual inflation remained at 0.2% in October and was 1.2 percentage points lower than a year ago. […]
The three largest banks operating in Lithuania – SEB bank, Swedbank and DNB bank – have very solid capital buffers and assess risks conservatively enough. This became clear after the European Central Bank (ECB), in cooperation with the Bank of Lithuania, inspected the asset quality of the three commercial banks and performed stress testing, the country’s central bank said in a report on 26 October. […]
Russia’s sanctions against imports of farm and food products were the trump card of the neighbouring country and it only could do more harm through restrictions on the sale of energy sources to the European Union’s (EU) countries, chief economist of Swedbank Lithuania has said, adding that in this way Moscow would also inflict significant harm on itself. […]
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. […]
In the second quarter of this year annual nominal growth of gross wages accelerated to 4.6%. Meanwhile, real net wages increased by 4.9%, due to increase in non-taxable income threshold as of January 1st. However, the main factors behind rapid wage growth were general economic growth, declining unemployment and an increasingly pronounced shortage of qualified labour force. […]
In the second quarter of this year unemployment declined to 11.2% and was 1.2 percentage points lower than in the previous quarter. Youth unemployment, on the other hand, increased slightly to 21.3%. Long term unemployment declined to 5% and was 0.2 percentage points lower than in the first quarter. […]
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