Global shipping giant Mediterranean Shipping Company (MSC) has included the seaport of Klaipeda in its maritime route connecting Lithuania with Latin America. The route will link Klaipeda directly with ports in the Dominican Republic, Costa Rica, Peru, Colombia and other countries. Last July, MSC included the Lithuanian seaport in its route linking Western Europe with…
Following war in Ukraine, the central Bank of Lithuania will revise the existing growth forecasts for this year, its board chairman Gediminas Simkus has confirmed, adding that new estimates will be released on March 22. Inflation is now being affected by changes in the international environment, the central banker said. Annual inflation in Lithuania reached…
On March 17, the Lithuanian parliament Seimas unanimously approved a proposal to increase this year’s national defense funding to 2.52% of GDP. The 2022 budget amendment, allocating 298 million euros in additional funding for national defense, passed the Seimas with 123 votes in favour, none against and none abstentions. The amendment allows the state to…
Lithuania has so far supplied 29 million euro-worth of military assistance to Ukraine, according to MP Laurynas Kasciunas, chairman of the parliamentary Committee on National Security and Defense. “Lithuania has provided military aid worth a total of 29 million euros, which, basically, equals to 40 HGVs, and in absolute terms, we are among the top-10…
The Lithuanian president has hit at the government for “sluggishness” in addressing inflation. The president’s office even commissioned a poll, suggesting that nine out of ten Lithuanians believe the authorities are not doing enough. President Gitanas Nauseda’s office shared the results of the opinion poll by Baltijos Tyrimai on March 16. 53% of respondents said…
Solidarumas, a Lithuanian trade union, has suggested nationalizing a Kedainiai-based phosphate fertilizer manufacturer Lifosa the indirect owner of which is subject to EU sanctions. Kristina Krupaviciene, the union’s chairwoman, has presented the proposal to the Prime Minister Ingrida Simonyte, saying that the move would help save jobs, government and municipal revenues. Some of the company’s…
Lithuania has signed a contract to purchase new counter-unmanned aerial vehicle (UAV) systems for its armed forces, the Defense Ministry reports. The systems will be configured to detect, identify and neutralize UAVs by suppressing navigation, video transmission and control signals, the ministry said. The Defense Material Agency signed the contract with NT Service, a Lithuanian…