Energy price hikes, the continuing pandemic and geopolitical tensions did not seem to affect Lithuania’s exports growth in 2021. Statistical data analysis by Enterprise Lithuania, the government’s business promotion agency, showed that the country’s goods exports grew by 20.5% YoY. Export growth rates remained similar throughout the year. The most significant growth was recorded in…
China’s decision to suspend imports of certain products from Lithuania will not cause any problems, because businesses have already stopped exporting to China and found new markets, Lithuanian Prime Ministers Ingrida Simonyte has said. “As far as I know, there’s no practical problem because of this decision, since exports of these products to China have…
Stinger anti-aircraft missiles from Lithuania will be handed over to Ukraine in the upcoming days, Prime Minister Ingrida Simonyte said on February 10 during her visit to Ukraine. “We are increasing the number of military instructors in Ukraine and providing the country with additional weapons and equipment,” Simonyte said. “Stinger anti-aircraft missiles from Lithuania will…
January heating bills in Vilnius will be 5% to 10% higher than in record-breaking December, according to Vilnius Heating Networks (Vilniaus Silumos Tinklai, VST), heating and hot water provider of the Lithuanian capital. Vilnius residents already paid record sums for heating in December 2021 when prices more than doubled compared to a year before. The…
Monetary payments to hard-pressed households, proposed by President Gitanas Nauseda in response to rising prices, may exacerbate inflation even further, according to Finance Minister Gintare Skaiste. “Such helicopter money could, in principle, make the inflationary mill spin even faster,” she said on February 8. “One should be very cautious about such measures, and I’d say…
Georgia ranked 50 in terms of bilateral trade (53 in export and 47 in import) among all trade partners of Lithuania in 2020, which made Georgia the biggest trade partner of Lithuania in the South Caucasus region, the Ministry of Foreign Affairs of the Republic of Lithuania reported. According to the ministry, Lithuania’s direct investments…
Lithuania’s central bank head has welcomed President Gitanas Nauseda’s recent proposals to increase the incomes of low-earners. However, he is more critical of the government’s proposal to temporarily cut the value added tax on central heating. The measure is “a good thing”, Gediminas Simkus said, pointing out that other EU member states had also taken…