In Q3, Latvia was one of two countries in the European Union (EU) in which a GDP drop was observed, according to data published by Eurostat on December 7. According to seasonally adjusted data, Latvia’s GDP dropped by 0.4% YoY. An even bigger drop was observed in Estonia – 2.3%. In Lithuania, however, GDP increased…
Russia’s war in Ukraine has fundamentally changed Rail Baltica’s function, making this project important not only for the region’s economy but also for its defence, Catherine Trautmann, the European coordinator of the North-Sea Baltic TEN-T Corridor, has said. Therefore, the European Commission has decided to finance up to 85% of the project’s costs, according to…
During a meeting of European transport ministers in Brussels, participants agreed that all member states the railway network of which differed from the EU standard, had until 2025-2026 to develop a plan to transition to 1,435 mm. This applies to Latvia as well, as reported by Ministry of Transport. Latvia and other Baltic States still…
The ministers of foreign affairs of Estonia, Lithuania and Poland in a joint statement praised the approval of the price cap on Russian oil and called on the EU to speed up the preparation of the next round of sanctions on Russia. That’s according to a tweet by Estonia’s Foreign Minister Urmas Reinsalu. “We need…
Work being done to synchronize the Baltic States’ electricity grids with those of the rest of the European Union means that the number of electricity connections between Estonia and Latvia will be cut from three to two, through to year-end 2025. Implicit in the synchronization with “continental” Europe is the need to de-couple from the…
On November 22, the Organisation for Economic Cooperation and Development (OECD) presented a report in which it named Latvia the second most rapid growth among Baltic States this year. According to OECD, Latvia’s GDP may grow by 2.3% in 2022. For next year OECD predicts a 0.2% drop for Latvia’s economy. In 2024, Latvia will…
Lithuania, Latvia, Estonia and Poland are pushing other EU countries and the European Commission to agree on the Russian oil price cap and the EU’s ninth sanctions package against Moscow at the same time. The four countries have been arguing for tougher EU sanctions against Russian since the start of its war in Ukraine. According…