Lithuania’s decision to speed up synchronization of the country’s electricity grid with continental Europe is a breach of the agreement signed with Estonia and Latvia, Taavi Veskimagi, head of the Estonian transmission operator Elering, has said. All three Baltic States are scheduled to synchronize from the BRELL grid, which connects Belarus, Russia, Estonia, Lithuania and…
Estonia is the smallest of the Baltic States, while its national budget revenue and spending are the highest of all three countries – although Lithuania is set to overtake Estonia in both of these indicators in 2023, according to Svetlana Nesinova, senior tax consultant at BDO Latvia, in an interview with the Baltic Business Quarterly…
Work on pan-Baltic high-speed link Rail Baltica’s main line begins in earnest this year. Marko Kivila, acting head of the Riga-based joint venture RB Rail, said that the three Baltic States: “Have chosen different approaches to construction strategy,” which in part would reflect the different topography of the three countries. “If we look at what…
The first of two updated high-voltage electricity lines connecting Estonian-Latvian electricity was launched on June 9. The cables will eventually allow the Baltic States to disconnect from the Russian grid and officials say the project is on schedule. The project has already been underway for 15 years and, when it is completed, it will guarantee…
Organization for Economic Cooperation and Development (OECD) predicts that economic growth is expected only in Latvia among the Baltic countries: the country’s gross domestic product (GDP) will grow by 1.1% this year, and a 2.4% increase is expected next year. In November, the OECD predicted that Latvia’s GDP would increase by 0.2% and 2.3% this…
Unlike residents in Estonia and Lithuania, who spend more than 0 to 40 euros on various everyday needs, residents in Latvia usually spend no more than 10 euros on the same expenses. In other cases Latvian residents do not set any borders for spending habits at all, according to results of a survey among the…
Olerex, an Estonian fuel retailer, is purchasing 45 gas stations in Latvia under the brand name Latvijas Nafta. This is the fourth Latvian gas station chain that Olerex has acquired in the past two years. Olerex acquires the Latvian tank terminal from its current proprietor, East-West Transit, via its holding company, Aqua Marina. Olerex entered…