Economy Ministry has proposed that the government cover accommodation costs of every third night that foreign tourists spend in the country. The measure would be “unique in Europe”, said the acting economy minister, Zygimantas Vaiciunas. “The new measure we are creating, which would in fact be rather unique in Europe, aims at promoting inbound tourism,”…
The Lithuanian government’s revenue is stabilizing after taking a hit from the coronavirus crisis, the finance minister said, even though it fell by 30% below target in May. “The situation is starting to stabilize here. By comparison, revenue collection in April was more than 32% lower than projected,” Vilius Sapoka reported. In May, the central…
The Lithuanian government has greenlit relaunching regular flights to Norway, making Oslo the fourth destination to be accessible by air from Vilnius. Regular flights have so far been allowed to Frankfurt, Riga and Tallinn. Foreign Minister Linas Linkevicius told the Cabinet that flights from Vilnius to Oslo would resume from May 25, adding that AirBaltic…
President Gitanas Nauseda proposed temporary income tax cuts and one-off payments to families with children to stimulate the country’s economy. The president presented the additional package worth 500 million euros after signing the Seimas-adopted law on one-off payments of 200 euros to pensioners and other social benefit recipients. Nauseda proposed to cut income tax from…
Airlines are hesitant to resume flights in absence of a clear safety criteria from the Lithuanian government, says the CEO of the country’s airports. Germany’s Lufhansa is the first airline to relaunch regular flights from Vilnius, while some other carriers have also submitted applications to the government. According to Marius Gelzinis, the CEO of Lietuvos…
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…