Polish retail sales went up by 8% YoY in August after a 7.6% increase in July, Eurostat, the EU’s statistics agency, reported on October 6. Month on month, retail sales went up by 0.7%, the agency also said. Retail sales in the euro zone fell by 2% in August after a 1.2% decline a month…
Lithuania will emerge from the crisis of recent years “stronger and more resilient” than before, Economy and Innovation Minister Ausrine Armonaite told several hundred foreign investors on October 6. “The last two years have been challenging and I can’t promise that 2023 will be easier, but what I’m absolutely sure of is that we will…
The Monetary Policy Council (RPP), the Polish central bank’s rate-setting body, unexpectedly broke its rate-hiking cycle despite rising inflation and kept the reference interest rate at 6.75% on October 5. The National Bank of Poland’s lombard rate remained at 7.25%, the rediscount rate at 6.80% and the discount rate at 6.85%. The RPP also left…
The price of heating in Lithuania in October will be about 100% higher than in the same month last year, according to the International Biofuel Exchange Baltpool. “The price changes are mainly influenced by the energy crisis in Europe caused by the war in Ukraine: the suspension of biofuel imports from Belarus has doubled the…
In nine months of 2022, revenues worth 65.5 billion lei (over 3.27 billion euros) were accumulated at the national public budget, increasing by 11.5 billion lei compared to the same period last year. The expenses amounted to 67.3 billion lei, which compared to the same period of 2021, were higher by 10.8 billion lei, according…
Poland’s rate-setting body said on October 5 its decision to put interest rates on hold was due to a forecast decline in economic growth and consumer demand, which should help to reduce the record-high inflation. In a statement issued after its decision to put all interest rates on hold in October, which broke the one-year-long…
Lithuania has decided to use almost $3 million earmarked for Afghanistan’s security forces to buy warm clothing for Ukrainian soldiers and help meet other needs. On October 5, the government decided to take back $2.876 million (2.94 million euros) contributed by Lithuania to the NATO-run Afghan National Army (ANA) Trust Fund. “Since $2.876 million have…