In its report published on June 8, the Organisation for Economic Cooperation and Development (OECD) predicted Latvia to experience the most rapid economic growth among Baltic States. OECD predicts Latvia’s GDP may increase by 3.5% this year. Next year Latvia’s economy is expected to grow by 1.6%. The coordinated consumer price index in Latvia, according…
Due to sanctions, Russia has been unable to sell its electricity to the Baltic countries and Finland since mid-May. Currently Estonia, Latvia and Lithuania are only connected to Russia due to being in the same frequency band, which is managed centrally from Moscow. However, as the Baltic States have been trying to maintain a clean…
On December 21, Estonian, Latvian and Lithuanian defense ministers agreed to jointly develop a rocket artillery capability. In their joint statement, the ministers “declared their intent to engage in a joint development of regional interoperable Multiple Launch Rocket System capability”. “I cannot say specifically right now how it will look like, as we only have…
The average weekly electricity price in Latvia has declined by nearly 14%, to 42.27 EUR/MWh in Estonia and 45.72 EUR/MWh in Lithuania. The price decline in Latvia was 13%, to 45.72 EUR/MWh, according to information from Latvenergo. A considerable consumption volume decline was noted in Nord Pool region last week. Electricity volume declined to 6,036…
Japanese car giant Toyota will no longer offer diesel cars to customers in Estonia, Latvia, and Lithuania, leaving only hybrid and petrol engine cars in the selection. The company explained the decision with the decreasing interest in diesel-powered cars in the Baltic States. The interest of the residents of Estonia, Latvia and Lithuania in diesel…
In Q3 Riga was the only Baltic capital where housing affordability had improved in comparison with the same period of 2015. Growth of average net wages and decline of interest rates contributed to the improvement of housing affordability. Affordability in Tallinn has become somewhat worse under influence from higher interest rates. Housing affordability in Vilnius…
The austerity policy realized in Baltics during the crisis has resulted in some of the lowest budget deficit and debt levels in the European Union. However, Baltics are part of the six EU member states, which includes Luxembourg, Denmark and Slovakia, which are able to fulfill all Maastricht criteria. “Baltic States have managed to demonstrate…