The European Commission predicts that Lithuania’s gross domestic product (GDP) will contract by 7.9% this year due to the Covid-19 pandemic. However, the country’s economy should rebound and grow by 7.4% next year, the Commission said in its Spring 2020 Economic Forecast. According to the Commission, the heaviest blow to Lithuania’s economy will be dealt…
The Lithuanian government has allowed regular Vilnius-Frankfurt flights to resume on May 10. Flights in Lithuania were allowed to start on April 30, but all inbound flights needed to be approved by the government. There are no restrictions on outbound flights, “as they will not affect the epidemiological situation in the country,” according to the…
Drivers working for Girteka, Lithuania’s largest logistics company, are planning a massive walkout over wage cuts. The drivers are set to leave their vehicles in parking lots in different European countries on April 20 and not to work. Girteka drivers were warned last this week that their salaries would be cut by 15%. The company…
Lithuania is borrowing 1.5 billion euros from international financial institutions and using the money to ensure the liquidity of the state treasury. The European Investment Bank (EIB) will extend a loan of 700 million euros, while the Nordic Investment Bank (NIB) and the Council of Europe Development Bank (CEB) will lend 400 million euros each.…
Lithuania’s wet-lease and charter services provider GetJet Airline has handed lay-off notices to 370 employees, the Employment Service has said. These include 14 technicians, eight flight coordinators, six maintenance control coordinators, five crew coordinators, five auditors and four financial controllers. GetJet Airlines had a total of 392 employees in February, based on data from the…
Wizz Air, the Hungarian budget airline, has extended the suspension of all flights to and from Vilnius until April 30. “The decision was made as a response to prevent the spread of the Covid-19 pandemic,” the statement by the company reads. All affected passengers will be informed, Wizz Air said. If they bought tickets directly…
Lithuania’s economy may shrink by at least 1.2% this year due to the coronavirus, economists from the central bank estimate. This would be an “optimistic” scenario, according to the bank’s chairman Vitas Vasiliauskas. “We believe the economy could contract by 1.2%, meaning that the former baseline scenario changes by almost 4%. But, once again, I…