In the euro area the government deficit to GDP ratio declined from 3.7% in 2022 to 3.6% in 2023, and in the European Union (EU) it increased from 3.4% to 3.5%, reports Eurostat, the EU’s statistical office.
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Numerous Lithuanian companies and organisations have joined the initiative 4 procentai (4 Percent), calling on the politicians to urgently agree on 4% GDP defence spending and encouraging the public to support the move.
On Monday, Prime Minister Ingrida Šimonytė convened a meeting of political parties, representatives of business and trade unions to discuss prospects of defence funding and sustainable funding resources. Minister of National Defence Arvydas Anušauskas estimates that defence spending should be increa...
SEB Lithuania has published its latest economic projections on Tuesday. The bank upheld its previous forecast of 1.5% gross domestic product (GDP) growth for Lithuania in 2024 and 2.8% for 2025. Earlier projections were originally issued in November 2023.
Lithuania expects its economy to expand by 1.7% next year, following a soft landing in 2023, according to the latest update on the Finance Ministry’s Economic Development Scenario. The same growth was projected by the ministry in September.
Lithuania’s economy has been at about the same level for the second year in a row, i.e. it is neither expanding nor weakening. Next year it will exit the period of stagnation as a result of private consumption driven by real income growth and recovering demand in export markets. However, the full po...
President Gitanas Nausėda on Wednesday signed the 2024 state budget that was passed earlier in December by parliament.
The Bank of Lithuania forecasts that the country’s economy will experience a 0.6% recession in 2023. Projections for this year have been upgraded from a 1.3% recession forecast in June.
As the European Union is considering a new migration and asylum policy, including a solidarity mechanism to relocate migrants, Prime Minister Ingrida Šimonytė thinks Lithuania may agree with a migrant quota instead of paying EUR 3 million annually.
The Ministry of National Defence announces that the country’s defence budget has nearly doubled in the recent three years, rising to over 2.5% of gross domestic product (GDP) this year.
Lithuania’s gross domestic product (GDP) amounted to EUR 33.7 billion at current prices in the first half of 2023, the State Data Agency said on Monday.
At the end of the first quarter of 2023, the general government gross debt to GDP ratio in the euro area stood at 91.2%, compared with 91.4% at the end of the last quarter of 2022, reports Eurostat, the statistical office of the European Union (EU).
Lithuania’s gross domestic product (GDP) is set to shrink by 1% this year, before growing by 2.5% the following year, the Ministry of Finance said on Friday.
A total of 882.1 thousand people in Lithuania received at least one type of pension at the end of 2022, according to preliminary estimates from the State Data Agency.
Lithuania’s economic growth is expected not to exceed 3 percent in 2024, given the current monetary tightening policy, an economist with SEB bank says.
The European Space Agency (ESA), together with the Economy and Innovation Ministry, is looking for a coordinator for the Lithuanian space industry.
Когда началась война в Украине, лидер Литовского союза крестьян и зеленых Рамунас Карбаускис заявил, что связанный с ним бизнес прекращает связи с российскими компаниями, однако одна из компаний Agrokoncernas все еще продает комбайны Rostselmash. Эти комбайны производит российская компания, один из ...
„Agrokoncerno” įmonių grupė, kurią sudaro „Agrokoncernas”, „Agrokoncerno grūdai”, „Agrokoncerno technika”, „Agrokoncernas GDP” ir kitos įmonės, dėl Rusijos invazijos į Ukrainą nutraukė visus ryšius su Rusijos įmonėmis, rašoma pranešime.
Lithuania's new Finance Minister Gintare Skaiste acknowledges that she was forced to direct almost all of her attention to the coronavirus pandemic and the 2021 budget bill during the first days in office. But, she says, discussions on the future of the taxation system should start next year, as wel...
The Lithuanian state's 2021 budget bill has been drafted with the aim of reducing the general government deficit and stabilizing the growth of debt relative to GDP, Finance Minister Vilius Sapoka said on Tuesday.