Lithuania’s gross domestic product (GDP) grew by 5.2% YoY in January-September, slightly exceeding earlier expectations of the country’s central bank. According to data released by Statistics Lithuania, the country’s economic activity over the first three quarters of 2021 totaled 40.5 billion euros, up by 5.2%. The economy got a positive boost from industrial production, wholesale…
The Lithuanian capital is set to phase out the use of coal and peat briquettes for heating until June 1, 2023. The City Council of Vilnius amended regulations to prohibit the use of the polluting solid fuel for heating in the future, but dropped the proposal to introduce the ban immediately. Vilnius Vice Mayor Valdas…
BBC’s War and Peace, HBO’s Chernobyl, Netflix’s Stranger Things and now Camelot Films’ Prizefighter: The Life of Jem Belcher. More and more international producers are choosing Lithuania as their shooting location, benefiting as well as challenging the small Baltic nation’s film industry. The UK-based Prizefighter: The Life of Jem Belcher chose to relocate to Lithuania…
Lithuania plans to have direct passenger flights between the country and Kazakhstan from next year, according to a press release by the Transport and Communications Ministry. “As we are arranging and complementing the map of flights from Lithuania, Kazakhstan is among our most important destinations in Asia due to its economic relations with Lithuania,” Transport…
The Lithuanian government has approved a proposal to raise the minimum monthly wage before tax by 88 euros, or by almost 14%, to 730 euros from January 1, 2022. The minimum wage after tax will increase to 518 euros and the minimum hourly wage will rise from 3.93 euros to 4.47 euros. Social Security and…
Lithuania’s state budget revenue is projected to increase by 11.4% (1.422 billion euros) next year, with an 8.3% (1.238 billion euros) increase in expenditure, according to the Finance Minister Gintare Skaiste. The state’s revenue excluding EU funds should rise by 14.9% (1.434 billion euros), with expenses increasing by 9.3% (1.097 billion euros), the minister said…
INVL, a major Baltic investment fund, forecasts that Lithuania’s average annual inflation will reach 4% this year before decelerating slightly to 3.8% next year, Indre Genyte-Pikciene, the company’s chief economist, has announced. This is an upward revision from INVL’s previous estimates of 2.7% and 3.5%, respectively, last spring. The average unemployment rate is expected to…