The number of companies going bankrupt in Lithuania is on the rise and is set to increase even further, as the pandemic business support measures expire. “A restaurant has only a 25% chance of surviving five years after opening,” says Deivydas Praspaliauskas, founder of the Amandus restaurant in Vilnius. Before the pandemic, a third of…
Prime Minister Denys Shmyhal chaired a meeting with the participation of Minister of Finance Serhii Marchenko and representatives of the Ministry of Finance regarding the main directions of the draft state budget of wartime. The Head of Government emphasized that the priorities of the state budget for 2023 included maintaining of macro-financial stability, financing of…
Poland’s currency is one of the sources of its economic success and giving it up would be a grave mistake, the governor of Poland’s central bank has said in an interview for the Dziennik Gazeta Prawna newspaper. Commenting voices saying Poland should switch to the euro, Adam Glapinski said the fact that Poland had kept…
Lithuania’s Deputy Transport Minister Agne Vaiciukeviciute, accompanied by a delegation of local businesspeople, is visiting Taiwan this week to discuss potential cooperation, the Transport Ministry said on August 8. In Taipei, Vaiciukeviciute is scheduled to meet with Taiwanese deputy ministers of transportation and communications, economy and foreign affairs. “Opportunities for cooperation between Lithuania and Taiwan…
On August 1-7, the Customs Service collected over 695.1 million lei (about 34.7 million euros) from the state budget, 17% more than the budgetary burden established for this period. According to the Customs Service, natural persons brought goods with the value in customs exceeding the non-taxable limit, and payments amounting to over 19 million lei…
Following Russia’s invasion of Ukraine, Lithuania was among the first countries to restrict visas for Russian citizens, including a full ban on tourist visas. However, it has not produced the intended effect – more nationals from the neighbouring country have visited Lithuania than before the war. “If Italy has issued a tourist visa, then, of…
Poland’s unemployment rate remained unchanged month on month in July 2022 at 4.9%, the family and labour minister said. “July’s unemployment rate went down by 1% YoY,” Marlena Malag told a Polsat News private television programme. Malag added that the number of registered unemployed fell to 811,000 in July, down from 820,000 in June. The…