EconomyThe declining economic situation in Russia in 2014 was a serious challenge for the Baltics, however, Latvia, Lithuania, and Estonia proved their flexibility, maintaining economic growth, which, according to the experts, will accelerate in Latvia and Lithuania this year; but in 2016 – in all three Baltic States. Statistics Lithuania informs that, based on non-final data obtained from customs declarations, Intrastat reporting and VAT returns data, exports in February 2015 amounted to EUR 1.7 billion (LTL 6 billion), imports – EUR 1.9 billion (LTL 6.7 billion). Exports of goods of Lithuanian origin amounted to EUR 1 billion (LTL 3.4 billion). Over the month (February 2015, against January), exports increased by 11.4, imports – by 13.5%. Lithuania Post: the number of money orders sent before Easter period increased by 70%2015-04-09, 16:22Lithuania Post's data show that the number of money orders sent by residents before Easter period in 2015 has increased by 70% if compared with previous months. Comparing the first quarter of the year 2015 with the same period of 2013, the number of outgoing money orders has increased by 29%. There were better employment opportunities in March 2015, as a 28.4% increase of job offers was recorded in Lithuania. The demand for fixed-term contracts grew particularly. More job proposals were registered for operators of mobile agricultural and forestry machinery, nursing specialists, painters, construction and mechanical engineers. The European Investment Bank (EIB) is lending EUR 300 million - the first tranche of an approved loan amount of EUR 600 million - to co-finance priority projects in Croatia, receiving support from EU funds over the period 2014–2020. The EIB loan will cover the national co-financing contributions in line with the Partnership Agreement and the "Competitiveness and Cohesion" Operational Programme ("OPCC") in the areas of transport, energy, the environment, health, research and development, infrastructure, nature protection, social infrastructure, ICT, urban regeneration, water and waste management. Natural gas supplier and trader UAB Litgas calculated that when the Liquefied Natural Gas (LNG) terminal was being tested, only 60% of the budget allotted for this was spent – EUR 7.5 of 12.7 million. Use of robotic technologies, microprocessors, 3D printers and nanotechnologies will create tremendous economic value in our future industry and will radically change productivity, distribution of income, our welfare and environment, said Lithuanian Minister of Economy Evaldas Gustas on Thursday during a conference at the Integrated Science, Studies and Business Centre (Valley) Santaka in Kaunas city. A draft EU law to make the benchmarks used to price EU citizens' mortgages, loans and bonds more trustworthy was backed by the Economic and Monetary Affairs Committee on Tuesday. The text (lead MEP Cora van Nieuwenhuizen, ALDE, NL) aims to clean up the benchmark-setting process, by curbing conflicts of interest like those that led to the London Interbank Offered Rate (LIBOR) rigging scandals of recent years. End of milk quotas: "Opportunity to build a more confident and robust dairy sector"2015-04-04, 15:21The amount of milk produced in the EU will for the first time in three decades be determined by market forces only after European milk quotas ended on 1 April. The quotas were introduced in 1984 when production outstripped demand with the aim of putting an end to Europe's "milk lakes and butter mountains". It is hoped that by scrapping the quotas, Europe's milk producers are able to supply fast-growing markets in Asia and Africa. However, some farmers worry it could lead to price volatility. Retail turnover (including VAT) of the Apranga Group amounted to EUR 14.4 million in March 2015, and has increased by 8.2% comparing to March 2014. |
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