Inflation in Poland will remain high in the short-term, and its return to the central bank’s target band will be gradual, the Monetary Policy Council (RPP) has said in a statement after a no-change rate decision. The RPP kept interest rates unchanged for the third month in a row, leaving the main interest rate at…
On December 7, work on improving Lithuanian-Latvian gas interconnection was completed in Lithuania’s Pasvalys district, as confirmed by Lithuanian gas system operator Amber Grid. Amber Grid noted the project was completed ahead of schedule, and now it was possible to transport 90 GWh of gas using the pipeline, which was 30% more than was possible…
The amount of grants available to Lithuania under the EU’s Recovery and Resilience Facility (RRF) is being cut by 125 million euros, but the government will be able to borrow the same amount, Finance Minister Gintare Skaiste said on December 7. “The grant part of the New Generation Lithuania plan was linked to economic indicators,”…
In Q3, Latvia was one of two countries in the European Union (EU) in which a GDP drop was observed, according to data published by Eurostat on December 7. According to seasonally adjusted data, Latvia’s GDP dropped by 0.4% YoY. An even bigger drop was observed in Estonia – 2.3%. In Lithuania, however, GDP increased…
The Monetary Policy Council (RPP), the Polish central bank’s rate-setting body, has kept the reference interest rate at 6.75%. The National Bank of Poland’s Lombard rate remained at 7.25%, the rediscount rate at 6.80% and the discount rate at 6.85%, the RPP announced after its sitting on December 7. The RPP also left the deposit…
The public transport drivers’ strike in Vilnius entered its fourth day on December 8 after Vilniaus Viesasis Transportas (Vilnius Public Transport, VVT) and the municipal company’s trade union failed to make progress in talks. “The strike continues, and given the company’s actions, it will continue next week,” Algirdas Markevicius, president of the VVT trade union,…
Almost 3,000 unemployed people are involved in performing public works in seven regions under the Army of Recovery project. This was announced by First Deputy Prime Minister – Minister of Economy of Ukraine Yuliia Svyrydenko on the air of the National TV Marathon. “The Government offers Ukrainians who have lost their jobs but are willing…