EconomyEuro area annual inflation was 0.4% in July 2014, down from 0.5% in June. This is the lowest annual inflation rate since October 2009. In July 2013 the rate was 1.6%. Monthly inflation was -0.7% in July 2014. Statistics Lithuania informs that in II quarter 2014, against II quarter 2013, the volume of construction work carried out increased by 16.8% and amounted to LTL 2.2 billion. The construction work carried out within the country accounted for 94% (LTL 2.1 billion) of the total construction work, outside the country – 6% (LTL 132 million). The first batch of Lithuanian euro coins are being delivered to the Bank of Lithuania's vault in Vilnius. On 1 January 2015 they will be issued into circulation. From 22 August Lithuanian retailers are obligated to indicate prices in 2 currencies2014-08-13, 10:14From 22 August and six months after the euro adoption, prices of goods and services in Lithuania will have to be indicated both in the euro and in the litas. The requirement has to be followed by all trade and service companies, also by distance marketing service providers and in advertisements. Belarus and Kazakhstan, members of the Customs Union dominated by Russia, accept Lithuanian food products and are not stopping cargo at the border. Statistics Lithuania informs that in July 2014, compared to June, prices for consumer goods and services decreased by 0.5%. In July 2014, annual (July 2014, against July 2013) inflation stood at 0.3%. Statistics Lithuania informs that, based on non-final data obtained from customs declarations, Intrastat reporting and VAT returns data, exports in June 2014 amounted to LTL 7.1 billion (EUR 2 billion), imports - LTL 7.5 billion (EUR 2.2 billion). Statistics Lithuania informs that in July 2014, compared to June, prices for the total industrial production sold increased by 0.2%, refined petroleum products excluded - decreased by 0.1%. In accordance to the third payout plan approved by Vilnius Regional Court, Bank Snoras bankruptcy administrator has paid out LTL 750 million (EUR 217 million) to secondary creditor, state company Deposit and Investment Insurance. After the transaction primary and secondary creditors of bank Snoras will have received a total of LTL 1.7 billion (EUR 487 million). Creditors have submitted a total of 29,500 declarations of claim against the bankrupt bank Snoras. 17,234 of the declarations have been approved by the court, excluding those which were already covered. Creditors' applications were received from 57 jurisdictions across the globe. Based on the total value of claims 18% of creditors' applications were received from the Russian Federation, 5% from the United Kingdom, 2% each from the British Virgin Islands, the Bahamas and Panama, and 8% from other countries. The remaining 63% of claims were received from creditors registered in Lithuania. Rimantas Sadzius: events around us had no significant impact on Lithuanian economy2014-08-05, 11:26Lithuania's Minister of Finance Rimantas Sadzius says that despite lower than expected economic growth, the results show that events taking place around us have had no significant impact on Lithuania's economic situation. |
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