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Sunday 25.06.2017 | Name days: Maiga, Milija
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Economist: Lithuanian economy gained the most among the Baltics over the decade

In terms of economic growth rates over the past decade, Lithuania was the biggest winner among the Baltic States, SEB Bank's macroeconomic expert Dainis Gašpuitis points out.

Financial analyst: don't expect steady growth in Lithuania

Lithuania can look forward to good growth this year with the gross domestic product expected to rise by 5.8 percent, but it won't all be smooth sailing over the next few years, financial analyst Rimantas Rudzkis warned.

Lithuania Economy Minister steps down

Lithuania Economy Minister Dainius Kreivys decided to resign after Chief Official Ethics Commission announced he was confusing public and private interests. The conflict of interest had already been ongoing for some time.

airBaltic cancels four routes from Vilnius

Starting from March 27, this year, the Latvian national airline airBaltic will withdraw four routes from Vilnius – to Dublin, London, Rome and Paris.

State Social Insurance Fund of Lithuania giving more than it receives

Nine out of ten branches of SoDra (State Social Insurance Fund) throughout Lithuania are deemed to be technically insolvent. Analysis of the regional offices shows that in 90% of regions there are more pension beneficiaries than there are active workers.

Chairman of the Board of Lithuania Bank resigns

The current Chairman of the Board of the Lithuanian Bank, Reinoldijus Šarkinas has tendered his resignation to be effective 15 April. Šarkinas has reached the end of his five year term, and in fact Seimas had to ratify an extension until 15 April as it was a few months more than the specified five years.

President of Lithuania seeks to break heating monopoly

The president of Lithuania Dalia Grybauskaitea has pressed lawmakers to break the monopoly of the heat supply market, simplifying the terms of abuse of a dominant market position as well as increasing penalties.

Foundation: LNG projects in Latvia and Lithuania can be mutually compatible

Projects of liquefied natural gas (LNG) reception terminal with a re-gasification plant can break Gazprom’s monopoly in the three Baltic States and Poland, creating a competitive regional market through supply diversification and mutual interconnection.

E-mail users warned to beware

The Communications Regulatory Authority of Lithuania is warning about e-mails comprising suspicious advertisements.

Lithuanian heat network companies forced to disclose financial results

The Lithuanian Prime Minister Andrius Kubilius has promised to ensure that companies supplying heat to the inhabitants will have to publish their financial indicators.

EBRD could finance Lituania’s LNG terminal

The European Bank for Reconstruction and Development is considering the possibility to invest funds in the Lithuanian energy pipeline construction to Poland and Sweden.

Lithuania State Social Insurance Fund deficit - 2.75 billion litas

The Lithuanian State Social Insurance Fund shows a deficit of 2.75 billion litas (LVL 558 billion), however it is 20 million litas less than planned.

Vilnius to raise heating price

Residents of Lithuania might face a heating price surge, due to the outstanding debt of 41.4 million litas (LVL 8.4 million) boosted by growing current prices.

Lithuania export and import growth - 43.5% and 37.6%

In a year's time since October 2009 and October 2010, Lithuania export and import have increased by 43.5% and 37.6%. Similarly in the period of January and October this year, export and import have surged 30.2% and 29.9%.

Lithuania adopts 2011 budget

The government of Lithuania has adopted the next year's budget. Despite the state's economy has stabilized, the government is still cautious as the economic downfall is not past yet, therefore pensions and public sector salaries will not return to the pre-crisis level any time soon.

Lithuania declares war against cigarette smuggling

Lithuania is continuing to fight with cigarette smugglers, aiming to increase 2011 budget revenue.

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