Around 110,000 people in Lithuania, or 3.9% of the population, lived below the absolute poverty line last year, the country’s statistics office said on May 26. This is down from 140,000 people, or 5.1% of the population, in 2020. Last year, the absolute poverty threshold was defined as living on monthly income of less than…
A temporary suspension of mortgage payments by borrowers who are strapped for cash due to rising interest rates may cost the banking sector up to PLN 20 billion (EUR 4.34 billion), the National Bank of Poland (NBP) has said. The government has proposed the so-called mortgage vacations, a four-month suspension of payments per year, as…
Train travelers will pay more for tickets this summer. Prices of train tickets are set to increase by 11% as of June. Bus operators say they are also considering raising fares. In May, passengers still pay their usual fares for train tickets. But for example, a train ride from Vilnius to Siauliai will cost 1.40…
Inflation in Poland should start to fall in late 2022, provided that the war in Ukraine ends, a deputy finance minister has said. Poland is now battling rising inflation. According to the Central Statistical Office (GUS), prices of consumer goods and services (Consumer Price Index, CPI) in Poland increased by 12.4% YoY and by 2%…
The Georgian Government will spend GEL 32 billion (about $11 billion or EUR 10 billion) over the next 10 years in developing infrastructure and raising living standards of citizens, Irakli Karseladze, the Minister of Regional Development and Infrastructure, has said. Speaking in the Minister’s Hour format at the Georgian Parliament, Karseladze said the construction of…
In January-March, Latvian unemployment rate constituted 7.3%. Over the quarter unemployment rate grew by 0.2%, while over the year it fell by 0.8%. In Q1, there were 68 thousand unemployed persons aged 15-74 (inclusive), down by 6.7 thousand YoY, but up by 1.5 thousand QoQ, according to data of the Labour Force Survey (LFS) conducted…
Hungary has taken advantage of Russia’s war against Ukraine, actually blackmailing the European Union, but Ukraine has something to respond with. The relevant statement was made by Advisor to Ukrainian Energy Minister Olena Zerkal during the Kyiv Security Forum. According to Zerkal, Hungary’s appetites for EU funds are growing every day. “They decided that their…