Natural gas prices for Lithuanian households are to rise by 27-36% from January 2022. The National Energy Regulatory Council (VERT) set the final gas prices for the customers of Ignitis, the state-controlled energy company. The parliament has recently passed a package of laws to mitigate the impact of soaring energy prices on consumers. The measures…
Lithuania’s major supermarket chains say they will not work on December 25 and many will cut working hours during the holiday period. The majority of supermarkets will also be closed on January 1, 2022 although some Iki or Rimi stores will stay open with shorter opening hours. On December 31, Iki, Norfa and Lidl stores…
Average labor income in Lithuania grew by 161 euros, or by 11.4% YoY in the third quarter, to 1,572 euros before tax, according to figures presented on November 25 by Lithuania’s Social Insurance Fund Board, Sodra. Meanwhile, labor income after tax increased by 95 euros, or by 10.5 %, to 998 euros. In August, average…
Belarusian fertilizers make up a bulk of business for Lithuanian transportation and stevedoring firms, but as US sanctions come into effect next month, it is still unclear how they will cope with the loss of revenue. Last August, the United States introduced sanctions on Belaruskali, the Belarusian state-owned firm, one of the world’s largest producers…
The housing loan portfolio of Lithuania’s banks grew more than in any other eurozone country this year, showing signs of overheat, said central bank chief Gediminas Simkus. A correction in the housing market could shake the country’s financial system. Between January and September, Lithuanian banks issued 50% more in housing loans than over the same…
The Lithuanian Environment Ministry proposes to scrap the existing one-off vehicle registration levy and instead introduce an annual car pollution tax. The Environment Ministry says 54% of car owners in the country will have to pay up to 100 euros in the annual pollution tax that will be phased in until 2025. The ministry earlier…
The European Parliament and the EU Council have reached agreement on the EU’s next year budget, totaling 170.6 billion euros. Lithuania will receive additional funding for dealing with health and migration, the Finance Ministry says. “It’s important that the final version ensures proper funding for Lithuania’s strategically important traditional policy areas, like cohesion and agriculture.…