European grid operators are ready to implement immediately a long-term plan to bring the Baltic States, which rely on the Russian grid, into the European Union system in the event Moscow cuts them off, three sources familiar with the matter say. Concern about depending on Russia for any form of energy has mounted across Europe…
Given the choice, most Latvian residents would retire sooner than what is provided by Latvian legislation, according to results of a survey conducted by Citadele Bank in June. 57% of interviewed Latvian residents would like to retire at the age of 51-60 years. This response turned out the most popular in Lithuania and Estonia, where…
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…
At the beginning of the year housing availability index in Baltic States started limping. The shocks caused by the war in Ukraine have impacted the real estate market a lot. Growing construction costs, shortage of construction materials and rapidly growing inflation causes concerns regarding housing availability in the near future. Swedbank Baltic Housing Affordability Index…
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…