Laurynas Kasciunas, chairman of the Lithuanian parliamentary Committee on National Security and Defense (NSGK), and a group of fellow lawmakers have proposed to allocate 3.6 million euros in additional funding to the Lithuanian Riflemen’s Union. According to Kasciunas, such a decision would bring the Riflemen’s Union funding up by 50%. The move has been coordinated…
Lithuania has already provided 3 million euros in aid to Ukraine to help it rebuild its energy infrastructure, with an additional 2 million euros to be given to the country’s war-ravaged energy sector shortly, the Energy Ministry has said. Russia is deliberately destroying Ukraine’s energy infrastructure, Energy Minister Dainius Kreivys says. “To our knowledge, 40%…
Additional defence budget planned in 2023 government spending bill will be used to purchase weapons and ammunition, according to Defence Minister Arvydas Anusauskas. “I believe it would go toward our major arms and ammunition purchases,” the minister said on November 17. “All countries are queuing up to buy weapons, and we want to increase some…
The Lithuanian parliament decided to hold its final vote on the government’s 2023 budget on November 22 after debating the revised draft plan on November 17. The motion to set the date for the final vote passed in a vote of 66 to 14 with 33 abstentions. Mykolas Majauskas, chairman of the parliamentary Committee on…
Lithuania’s national security is a key factor when deciding whether to hand over PzH 2000 howitzers and NASAMS air defence systems to Ukraine, President Gitanas Nauseda insists. “We will certainly do our best and we will continue to help Ukraine to the best of our abilities. However, I reiterate that defence must be ensured evenly…
Over the past two years, real estate prices in Lithuania have been rising faster than wages, which reduces the affordability of housing and may cause social problems, warns central bank chief Gediminas Simkus. “Housing is not just a piece of property, it is first and foremost a basic human need. It is the place where…
Finora Bank, co-founded by Estonian businessmen Veikko Maripuu and Andrus Alber, has begun operations in Lithuania, promising to bring new financing to the market, particularly for small businesses, the creative sector and the green economy. In the coming months, the new bank will start operations in Estonia. Maripuu said that financing for small businesses was…