Lithuanian Railways (LTG), the country’s state-owned railway company, is planning to lay off around 2,000 employees until the end of the year as a result of the EU sanctions imposed on Russia and Belarus in the wake of the war in Ukraine. LTG has earmarked around 6 million euros for the staff redundancy payments, the…
Strengthening governance and financial resources of the self-governing units in Georgia and the development of regions in the country are the “key strategic goals” of the 2022-2023 Action Plan for Decentralization Strategy of the Government, Levan Davitashvili, the Georgian Economy Minister, said on April 28. Following the second session of the Governmental Commission on Decentralization,…
It’s possible Latvian gross domestic product (GDP) may have increased by 4.3-5% in the first quarter when compared to the same period of 2021, according to analysts of Latvian banks. Citadele Bank economist Martins Abolins said in Q1 Latvia’s GDP growth in comparison to Q1 2021 might have been 4.5-5%. When compared to Q4 2021,…
A little over half of Lithuanians consider themselves “middle class”, according to a new survey. The figure is down from the previous poll two years ago. To be comfortably-off, Lithuanians would like their incomes to be considerably higher. In the survey commissioned by Swedbank, 55% of the respondents classified themselves as middle class (over 60%…
Ukrainian Prime Minister Denys Shmyhal has named three possible sources of finance for a recovery fund for Ukraine after the war. “There are three possible sources of finance for the recovery fund for Ukraine,” Shmyhal said. According to him, one is Russian assets, now frozen in the West, which are believed to total at least…
On April 26, Russia hit a railway bridge over the Dniester Estuary in Odessa region by a missile, the operative command of Ukrainian Armed Forces reported. The bridge was damaged. The fact was confirmed by Ukrainian Railways (Ukrzaliznytsia). The bridge connects Odessa and Bessarabia, where three Ukrainian seaports – Izmail, Reni and Ust-Danube – are…
Lithuania plans to acquire Jehu-class patrol boats from Finland, Lithuania’s Defence Ministry said on April 27. A procurement agreement is expected to be signed shortly. Deputy Defence Minister Vilius Sameska said these vessels would increase Lithuania’s coastal surveillance capabilities and fill the operational gap in the Curonian Lagoon. The two countries have also renewed the…