The Lithuanian Energy Ministry expects its energy saving plan to help the country save 800 million euros and 20% in energy use over two years, Energy Minister Dainius Kreivys has said. Some 100 million euros should be saved by the public sector, 300 million euros by businesses and 400 million euros by households. The plan…
The Monetary Policy Council (RPP), the Polish central bank’s rate-setting body, increased the reference interest rate by 25 basis points, to 6.75% on September 7. The National Bank of Poland’s lombard rate was raised from 7.00% to 7.25%, the rediscount rate from 6.55% to 6.80% and the discount rate from 6.60% to 6.85%. At the…
Kaunas Mayor Visvaldas Matijosaitis says that selling off the Russian operations of his company is taking more time than expected. Matijosaitis is an owner of Viciunai Group, a major Lithuanian food production company. Viciunai Group’s owners and managers have been promising to sell their business in Russia ever since Moscow’s invasion of Ukraine in late…
Estonia will purchase Poland-made Piorun (Thunderbolt) air defence systems, which have been battle-tested in the Ukraine war. Man-portable Piorun surface-to-air missiles are designed to target low-flying aircraft, helicopters and unmanned aerial vehicles. Under the deal, signed by Mariusz Blaszczak, the Polish defence minister, and his Estonian counterpart Hanno Pevkur on September 7, Poland will supply…
With Russia’s invasion of Ukraine now in its seventh month, Lithuania has called to tighten exports of dual-use goods to Russia at the EU level. “As military resources used by Russia for the war become scarcer, this leaves room for resourcefulness, and certain goods and products, which were never used as military means before, might…
European partners of Ukraine commended the positive pace of reforms in recent months, in particular, the implementation of the seven points that had been determined when Ukraine had been granted the status of a candidate for EU membership. This was noted by Prime Minister Denys Shmyhal at the Government meeting on September 7. “During the…
The complete recovery of Ukraine after the victory in the war unleashed by Russia will be the largest economic project in Europe, which can currently be estimated at more than $1 trillion. “The general project of Ukrainian reconstruction will be the largest economic project in Europe of our time. The largest for several generations. Its…