In Baltic States, as well as in countries like Finland, Sweden and Germany, electricity prices increased last month. The average electricity price in May increased by 50%, reaching 164.20 EUR/MWh in Latvia and 151.37 EUR/MWh in Estonia. In Lithuania the average electricity price reached 164.71 EUR/MWh, up by 41% MoM. In May, the hourly price…
Lithuanian President Gitanas Nauseda will seek to secure EU leaders’ support amid Russia’s threats to Lithuania over the recently introduced ban of the transit of some goods to the Russian exclave of Kaliningrad. The president will raise this issue at the forthcoming European Council meeting later this week, Asta Skaisgiryte, the president’s chief foreign policy…
Ukraine’s National Nuclear Energy Generating Company Energoatom and U.S.-based Westinghouse have discussed bilateral cooperation, including the preparation of regulatory documentation for the construction of new nuclear power units using AP1000 technology in Ukraine. Energoatom President Petro Kotin held a virtual meeting with Elias Gedeon and David Durham, Senior Vice Presidents at Westinghouse Electric Company. The…
According to the National Bank estimates, GDP will decline by at least a third at the end of the year. “As a result of the war, we expect GDP to decline by at least a third. We expect the inflation rate to speed up and exceed the 20% level,” Deputy NBU Governor Serhiy Nikolaychuk said…
Poland’s average corporate gross monthly wage rose by 13.5% YoY, to PLN 6,399.59 (EUR 1,379) in May, the Central Statistical Office (GUS) said on June 21. In monthly terms, the average wage fell by 3.4%. Economists polled by PAP expected a 14.7% annual increase in the corporate wage in May and a 2.4% monthly decline.…
The effects of Russia’s war on Ukraine are already being felt by producers of strong alcohol and spirits in Estonia. Raw material shortages caused by the war are expected to lead to major price increases by fall at the latest. Spirits companies are also preparing for some of their products to disappear from supermarket shelves.…
Poland’s industrial output rose by 15% YoY in May, the Central Statistical Office (GUS) reported on June 21. Month on month, industrial output increased by 1.4%. Economists polled by PAP expected May’s manufacturing to grow by 16.7% YoY and by 2.5% MoM. Seasonally adjusted industrial production went up by 11.9% YoY, but declined by 1.7%…