Compensating businesses for rising electricity and gas costs would put an unbearable burden on the country’s budget, Lithuanian Finance Minister Gintare Skaiste has said, adding that the majority of the European Union countries are only providing support for households. “At present, the majority of countries provide support only to households since businesses consume both electricity…
Lithuania is set to open its trade office in Taiwan this week, the South China Morning Post has reported. The move is likely to cause additional friction with Beijing, which has downgraded diplomatic ties with Lithuania and imposed economic sanctions after the Taiwanese representative office opened in Vilnius last year. China considers Taiwan part of…
Estonian renewables generator Enefit Green is in the process of developing a wind farm in Lithuania, which will be the largest the company operates, and is scheduled to start production in April 2023. Enefit Green is a subsidiary of state electricity generator Eesti Energia. The 75 MW development is under construction in Akmene, in northern…
Lithuania’s economic growth will slow down in the near future, but the country will avoid a recession, Prime Minister Ingrida Simonyte has said. “Considering what I see, what is being projected by those who have already published forecasts, we don’t see a negative territory so far,” she said. “However, the pace of economic growth will…
Grigeo Klaipeda, a Klaipeda-based cardboard producer that is part of the Grigeo Group, has halted production due to soaring energy prices. Gintautas Pangonis, the group’s president, says production at Grigeo Klaipeda has been suspended for a week, possibly two. He attributed the decision to suspend production for around two weeks to high electricity costs. (BNN/Business…
As energy prices continued to rise, the Lithuanian government unveiled new crisis measures on September 7. As presented by Finance Minister Gintare Skaiste, one of the planned measures is the extension of the VAT relief for central heating. The zero-VAT rate is now planned for two heating seasons: from October this year until the end…
Lithuania has sent 105-mm howitzers from its reserve to Ukraine, Defence Minister Arvydas Anusauskas has announced. “M50/M101 105 mm howitzers held in reserve of the Lithuanian Armed Forces were sent to Ukraine,” he said in a Facebook post. The minister added that Lithuania’s total military assistance to Ukraine, including the current and other planned shipments,…