When the new coalition reached an agreement on the electricity market reform, it did not decide how long the measure offering universal electricity service would remain in place, incoming Minister of Economic Affairs Riina Sikkut (SDE) saidon July 18. Sikkut believes the impacts of the measure should be assessed after the fact, and the reform…
The Lithuanian Energy Minister Dainius Kreivys signed an agreement between the US Department of Energy and the Lithuanian Ministry of Energy as Lithuania aims to achieve energy security and make its energy sector climate-neutral. According to the Energy Ministry, it’s the first memorandum of this kind, signed between the American and Lithuanian institutions in charge…
The Polish government is looking into ways of increasing the tax burden for state-owned companies that note stronger profits owing to rising prices of commodities, the government spokesperson has said. Piotr Mueller was commenting on July 18 on hints made by Prime Minister Mateusz Morawiecki several days ago. Morawiecki said that in the case of…
Lithuania harbours ambitions to have its space sector generating approximately 1% of the country’s gross domestic product (GDP) in five years’ time, Economy and Innovation Minister Ausrine Armonaite has said. According to her, Lithuania joined the European Space Agency within mere two months, which proved that the country was serious in its intentions. A total…
Labour market reforms and investments to increase productivity could raise potential economic growth in Poland to 4% a year between 2022 and 2030, the World Bank has said in a report. This year and next the economy may slow down due to inflation and other factors. The report noted that the Polish economy had “quickly…
The largest vertical farm in Europe is currently being developed in Lithuania. The business has already attracted 6 million euros in investment, and more is expected over the summer. According to Valentinas Civinskas, CEO of Leafood, the developer of the vertical farm, this technology will allow Lithuanians to enjoy fresh quality produce all year round.…
The Customs Service (SV) collected over 695.4 million lei (34.7 million euros) on July 11-17, up by 20.9% from the budgetary task set for this time interval. According to SV, private people brought goods, the value of which in customs exceeded the non-taxable limit, with over 8.1 million lei collected, which accounted for 3.6% of…