The cruise season in Klaipeda reached pre-pandemic levels this year, with the number of ship calls surpassing the five-year average. “We practically reached the 2019 level,” Algis Latakas, the port’s CEO, told a news conference. “It was a good year and a great season – 61 ships visited Klaipeda, which was not a record number…
Lithuania’s budget for 2023 was planned with 3% of GDP allocated to defence spending. However, the plans had to be adjusted due to the energy crisis, Defence Minister Arvydas Anusauskas said on October 13. “We had plans for 3%. That plan has not disappeared anywhere, but after that plan was drawn up, the energy crisis…
Lithuania will send self-propelled mortars and armoured vehicles, as well as other necessary equipment, to Ukraine, Lithuania’s Defence Ministry has said. “Lithuania continues and will continue to support Ukraine. We will provide the Ukrainian army with winter clothing and winter equipment, we will allocate additional funds for next year’s material support, we will provide 120…
Lithuania is providing 5 million euros through the World Bank for urgent reconstruction work in Ukraine, the Finance Ministry has said. The Ukraine Relief, Recovery and Reconstruction Trust Fund (URTF) was set up by the World Bank to help finance immediate recovery efforts in the country. “To ensure that financial assistance reaches Ukraine as quickly…
The Lithuanian government is planning to borrow around 6.673 billion euros domestically and abroad next year. The government debt is expected to reach around 30.2 billion euros, or 43% of GDP, until the end of 2023. The government plans to borrow around 2 billion euros domestically by issuing government securities and 4 billion euros by…
While some businesses struggle to stay afloat amid soaring energy prices and a squeeze on people’s purchasing power, others are doing better than before. Second-hand clothing retailers are experiencing a boom, with shoppers lured by environmental concerns as well as low prices. Geltonas Namelis (Yellow House) is a clothing shop in Birzai, a town in…
As the Lithuanian parliament, Seimas, starts deliberating the 2023 government spending bill, Finance Minister Gintare Skaiste says the primary focus is on supporting households and business in shouldering high energy prices. “The government is presenting the budget bill today, and we see it as a kind of shield to protect the population in this uncertain…