EconomyRetail 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. Swedbank Lithuania: household consumption is becoming increasing factor of economic growth2015-04-02, 12:14With declining export and weakening economic growth, household consumption is becoming an ever increasing factor of economic growth. Having reached its peak ever since late 2007, consumer confidence provides hope that the negative influence of declining export to the Commonwealth of Independent States (CIS) may be at least partially counterbalanced by growing consumption. On the other hand, it seams that Lithuanians will tend to save more this year, says Chief Economist of Swedbank, Vaiva Seckute. Siauliu Bankas introduces its renewed brand alongside with a slogan Our Strength is in Our Roots. At the same time, Siauliu Bankas sets an ambitious goal of becoming one of the most valued brands in Lithuania. Fitch Ratings has affirmed Lithuania's Long-term foreign and local currency Issuer Default Ratings (IDRs) at 'A-'. The outlooks are stable. The issue ratings on Lithuania's senior unsecured foreign and local currency bonds have also been affirmed at 'A-'. Turnover of retail trade and catering enterprises in Lithuania grew by 4.3% in February y-o-y2015-03-30, 12:01Statistics Lithuania informs that, based on provisional data, in February 2015, the turnover (VAT excluded) of retail trade enterprises* amounted to EUR 601.4 million; against January, it decreased by 4.3% at constant prices (seasonally and working day adjusted – grew by 1%). Tackling tax evasion should be a top EU priority. EU countries and the European Commission should play a leading role in discussing how to fight tax fraud and aggressive tax planning in the OECD and other relevant fora, says Parliament in its resolution on tax, voted on Wednesday. The Lithuanian Government managed to find additional funding to facilitate the search of new export markets and business partners. Lithuania's National Commission for Energy Control and Prices (VKEKK) on March 26th 2015 fined Lithuania's electricity transmission system operator Litgrid EUR 100,000. The surplus balances of services and of secondary income did not offset the foreign trade and primary income balances; this led to the build-up of an EUR 36.8 million current account balance (CAB) deficit in the country's balance of payments in Q4 2014. The Board of the Bank of Lithuania approved the Macroprudential Policy Strategy, by implementing which the country's central bank will contribute to the protection of the stability of the country's financial system, enhance the financial system's resilience and reduce the possibilities for the formation of systemic risks to ensure a sustainable contribution of the financial sector to economic growth. |
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