EconomyIn the first nine months of the year 2014, 7.9% more milk was collected compared to the same period of 2013. But milk purchase price was by 20% lower than a year ago. Statistics Lithuania has revised labour productivity in the national economy in 2013. Based on the latest data, the value added per hour actually worked in the whole economy amounted to, on average, LTL 45.94 (EUR 13.31) at current prices, which is by LTL 2 (EUR 0.58) more than in 2012. According to the International Monetary Fund (IMF), the adoption of the euro as of 2015 is proof of the success of Lithuania's economy, it will positively affect the economy and will consolidate even more Lithuania's place in Europe. In the newest evaluation report attention was also paid to the fact that due to effective supervision the country's financial sector strengthened. Lithuania-based retail chain Maxima is planning to enter into Ireland's market. The chain is looking at the southern part of Dublin with Shankill shopping centre. Finance Minister of Lithuania Rimantas Sadzius refuted public accusations hurled by economists who alleged that the Finance Ministry is overly optimistic about Lithuania's macroeconomic situation. The minister said that the planned budget for 2015 is "moderately optimistic". Airline Air Lituanica has signed a interline agreement with two leading global airlines Air France and KLM Royal Dutch Airlines. Getting to European, North and South American and African destinations via Amsterdam and Paris will be even easier. Lithuanian Ministry of Finance is preparing a proposal to the Government to again increase the excise duty on alcohol from 2015. While politicians argue that the Russian blockade will only bring minimal consequences to Lithuanian economy, the life of some of the agricultural producers and carriers has already turned into a nightmare. The manufacturer of fertilisers and chemical products in Lithuania – Achema company owned by Concern Achema Group – resumes its operation at full capacity as of 1 October, 2014. The Lithuanian cable operator Cgates has acquired two companies – UAB Ukmerges TV and UAB Rakarin for an undisclosed fee, broadbandtvnews.com said. |
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