The Lithuanian seaport of Klaipeda said that its first-quarter cargo traffic declined by 13.7% YoY, to 9.7 million tons. Algis Latakas, the port’s CEO, said that he expected container shipments via Klaipeda to continue growing at a fast rate this year. Container (TEU) loadings in Klaipeda almost doubled in the first three months to 218,000…
The Energy Ministry has drafted legislation banning Russian natural gas supplies to Lithuania. If passed, the amendments to the Law on Natural Gas will bar access to Lithuania’s gas transmission system and its LNG terminal to suppliers from countries deemed as posing a threat to national security. The ban will not apply to gas transit…
Lithuanian seaside entrepreneurs say that both accommodation and food will cost more this summer. Holidaymakers are already noticing the price differences. Palanga, Lithuania’s most popular seaside spot on the Baltic coast, is finishing the last upgrades before the summer season kicks off, such as a new pathway to the sea. It is partly funded by…
The Organization for Economic Co-operation and Development (OECD) has suggested that Lithuania should scrap the existing VAT concession for hotels and restaurants. The existing VAT concession for the catering sector expires at the end of this year. It was introduced last year to help businesses affected by the Covid-19 pandemic. Hotels have been subject to…
Lithuania could synchronise its electricity grid with continental Europe faster than planned, provided it postpones other infrastructure projects, according to the Energy Minister Dainius Kreivys. “I tried to make our position clear that we need faster synchronisation,” he told reporters after an extraordinary meeting of the EU Transport, Telecommunications and Energy Council in Brussels on…
Half of Lithuania’s medical team is staying in Ukraine for one more week and the rest are returning home after completing their mission, the Health Ministry reports. The situation in Ukraine remains tense, Marius Ciurlionis, an advisor at the ministry, says. “The medical workers themselves willingly agreed to stay, and we are very happy about…
Lithuania’s economy grew by slightly more than 4% in the first quarter of this year, compared to the same period last year, most economists estimated. Four out of the six experts surveyed believe that the country’s GDP growth ranged from 4% to 4.4%, while one analyst said it grew by 3.2% and another analyst said…