"The sustainably developed infrastructure of Lithuanian airports allows us to strengthen long-term partnerships and forge new ones. Our partners appreciate our progress and ambitions to grow together, therefore they are increasing flight frequencies on routes important for business and tourism, existing connections with European capitals and aviation hubs are improving, and new destinations are being added. This creates conditions to pursue new traffic records, ensuring a high passenger experience and naturally spreading the message about the higher level of quality we have achieved in recent years by combining and harmonizing many different measures. Out of the 15 companies operating regular flights in Lithuania, 11 of them will increase their offerings to passengers this summer," says Simonas Bartkus, CEO of Lithuanian Airports (LTOU).

The LTOU head expects that the aviation summer season will be even more active than last year's – the entire LTOU network is preparing for this in advance.

This year, LTOU has included charter flights in the general list of destinations, which also improve travel opportunities on both new and recurring routes.

From Vilnius – More Trips to European Capitals

Vilnius Airport is preparing to handle the most regular flights. As the season progresses, carriers from Vilnius will offer 61 destinations.

Flights to the popular Greek resorts, Nice in France, and the Spanish island of Mallorca will resume. Connections with European capitals will also improve – flights to London, Paris, Copenhagen, Brussels, and other important hubs such as Frankfurt and Istanbul will run at more convenient times and more frequently, so business travelers can organize their trips even more smoothly. Most business-important flights operate from 5 PM to 10 PM, so passengers can conveniently depart from Vilnius after working hours.

The most significant news will be direct flights from Vilnius to Prague, the capital of the Czech Republic, Catania in Italy, Tel Aviv in Israel, Bergen in Norway, and Tirana in Albania.

At the start of the aviation summer season, charter flights will be organized from Vilnius to the Egyptian resorts of Hurghada and Sharm El Sheikh, Burgas in Bulgaria, the Greek island of Rhodes, Tivat in Montenegro, the Portuguese island of Madeira, as well as to Tunisia and the most popular Turkish resorts.

Palanga Will Become a Gateway to Turkey and Egypt

Regular charter flights to Antalya in Turkey and Sharm El Sheikh in Egypt will be a novelty for Palanga Airport, allowing for an earlier start or extension of the summer season. The route to Turkey will begin as early as April 16, and Egypt will welcome travelers from Palanga from September 26.

The other 6 destinations will connect the western Lithuanian gateway with Amsterdam, Dublin, Oslo, and London, with the most active flights to Riga (10 times a week) and Copenhagen (14 times a week).

According to Lithuanian Airports data, passenger traffic at Palanga Airport increased by almost a quarter last year – nearly 380,000 people were served.

Flights from Kaunas – to the Rhythm of the Italian Tarantella

Kaunas Airport, which experienced a growth spurt last year, does not intend to slow down this year. The aviation summer season here will also start at the end of March, with the return of warm-season destinations to Greece, Croatia, and Italy. As many as six routes will lead from Kaunas to the "dolce vita" country, and one of them will be completely new – Ryanair will fly to Pescara from June 4. Tourists from Lithuania will be welcomed by Pisa and Rimini from March 30, Bari from March 31, and Naples from April 1. Air accessibility to Milan will continue to be maintained throughout the year.

LTOU head S. Bartkus points out that in terms of the number of destinations from Kaunas Airport in the summer, only the United Kingdom will match Italy, where Belfast, Bristol, Edinburgh, Liverpool, and two London airports remain easily accessible by air. Travelers to Ireland can choose Dublin or Shannon airports.

Those planning holiday trips to Southern Europe from Kaunas can choose Cyprus, as well as the Spanish cities of Malaga, Alicante, or the capital Madrid.

The first flight to the Croatian city of Zadar from Kaunas is scheduled for June 3, and those wishing to spend time on the sunny island of Mallorca can plan their trips from March 31. Flights to the Greek island of Rhodes from Kaunas Airport start on May 1.

In total, Kaunas Airport will offer 26 destinations during the summer aviation season and will continue to grow passenger traffic, which reached 1.4 million last year.

According to Lithuanian Airports data, more than 56,800 flights were served at all three airports last year – 7% more than in 2023.

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Under the proposed new regime, which would enter into force on 1 January next year, the information provided by crypto-asset service providers in relation to their crypto-asset users would be exchanged with other EU Member States in a targeted manner by the STI and which at the same time would receive from them, accordingly, the data on Lithuanian residents who are crypto-asset users, in order to protect the tax revenue of the EU Member States.

Reporting crypto-asset service providers should collect and report information on their reportable crypto-asset users – residents of the EU Member States, including residents of Lithuania and third countries – to the STI once a year for the previous calendar year.

The proposed legislative amendments transpose the provisions of the Directive on administrative cooperation in the field of taxation and harmonise reporting standards for crypto-assets across the EU in line with the framework developed by the Organisation for Economic Cooperation and Development (OECD).

www.finmin.lrv.lt

 

The need to modify the NGL plan arose for objective reasons: insufficient demand for certain measures, changed alternatives to implementing measures, increased costs and other circumstances that have made it impossible to fulfil the planned milestones on time or in full.

The updated NGL plan also allows for the submission of further payment requests to the European Commission (EC) for the results achieved. Lithuania has so far submitted three payment requests to the EC.

A total of 70 milestones of the NGL plan are being modified and funds from three measures under the NGL plan are being reallocated. Almost all modifications in the milestones are related to the revision of investment measures, and the reallocation of funds additionally finances new activities: the development of infrastructure for cycling and walking paths, the electrification of railways and the acquisition of forest land worthy of acquisition for the benefit of the State for environmental reasons.

At the same time, three reform milestones relating to the implementation of the reform of interurban transport, amendments to the legislation on minimum income protection and amendments to the Law on Unemployment Social Insurance are being revised.

The proposals to modify the NGL plan were submitted and agreed by the Ministries of Environment, Economy and Innovation, Energy, Social Security and Labour, Transport and Communications, Health, Education, Science and Sport and Agriculture.

The NGL plan, as amended, will be submitted to the European Commission for assessment as soon as possible and, in accordance with the deadlines set, the approval of the modified plan could be included in the ECOFIN Council meeting in June or July 2025.

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Minister of the Economy and Innovation Lukas Savickas emphasises that Lithuania wants to become a regional centre for the defence and security industry.

"We want Lithuania to become a regional centre for the defence and security industry. "Vytis” will enable Lithuanian companies to develop, test and implement new technologies faster, opening the way to international markets. The initiative aims to unite all existing and emerging incentive systems for the defence industry, create a one-stop shop for this industry and reduce bureaucratic barriers for a sector that is vital for Lithuania," said the Minister.

"Vytis” will operate as a one-stop-shop platform offering comprehensive support to companies, from the implementation of ideas to export promotion.

"We will offer comprehensive support to companies: from consulting, financing opportunities and technology testing to promoting international cooperation. We will ensure that companies in the defence industry are subject to significantly shorter procedures, receive prompt consultations and are provided with funding for project implementation. We aim to create a one-stop shop for all defence industry initiatives, regardless of the size and needs of the company," said Romualda Stragienė, head of the Innovation Agency.

Today, there are almost 100 companies operating in the Lithuanian defence and security industry, and their number has grown by 18 per cent in the last three years. Lithuanian companies supply various products, services and components to the defence sector, rely on a strong research base and meet both national and international innovation priorities.

The “Vytis” initiative provides for targeted investments in all key stages of defence innovation development. A large part of the funds will be allocated to the development of defence and security technologies, the expansion of innovation support and advisory services, technology testing infrastructure, the development of innovative skills, business incubation, pre-acceleration and acceleration activities. It will also support participation in international exhibitions, business missions to strategic export markets, the development of international research and experimental development projects, and financial incentives for developers of innovative products.

The “Vytis” initiative addresses issues that have long hampered industrial growth: lack of business financing in the early stages of idea development, lack of certification and technology testing infrastructure, limited inter-institutional cooperation, gaps in innovation financing and lack of export incentives. The Vytis initiative aims to leverage Lithuania's strengths and competencies in smart specialisation to address Lithuania's strategic defence and security priorities through specific technological solutions.

By 2030, the aim is to triple the export volume of the Lithuanian defence sector, attract at least five well-known foreign defence companies and ensure that the added value of the country's defence industry exceeds €1 billion.

https://eimin.lrv.lt/

 

The 20-year financing is earmarked for budgetary expenditures related to dual-use and infrastructure developments aimed at strengthening Lithuania’s defence capabilities.

The investments include IT and cybersecurity enhancements, the purchase of transport and engineering equipment, vessels, and the modernisation of aircraft and helicopters. Moreover, the financing will support the development of residential, administrative, and training facilities for the National Division and the incoming German Division that will be stationed in Lithuania.

Rimantas Šadžius, Lithuania’s Minister of Finance, says: “I am pleased that financial diplomacy is yielding tangible results—in March, during a meeting in Helsinki with the NIB President, we discussed the possibility of borrowing for defence needs, and today Lithuania is the first member country that can directly use a loan from NIB for the development of Lithuanian security projects. This is a symbolic decision for today, demonstrating that for 20 years Lithuania has had a highly reliable partner that understands the country’s essential investment needs.”

André Küüsvek, NIB President & CEO, says: “Security is not only a public good but is also paramount for economic development. Through this cooperation, we can directly address the most pressing needs of our owners and ensure the financing needed for long-term resilience.”

In 2024, NIB’s Board of Governors invited the Bank to increase its focus on security and resilience, alongside its mandate to support productivity and environment. The financing is in line with NIB’s revised Sustainability Policy allowing investments for dual-use equipment and projects—those with both military and civilian applications—as well as facilities, services, technology and other defence equipment, except for weapons and ammunition.

Strengthening security and addressing the country’s defence needs are among Lithuania’s budget priorities for 2025–2027. Additionally, the state borrowing limit has been increased by EUR 800 million in 2025, providing for the right to borrow for national defence purposes.

Today at 14:00 EEST, the 20th anniversary of the Baltic States’ membership in NIB will be marked at an event in Vilnius. Finance Minister Rimantas Šadžius, former President of Lithuania Dalia Grybauskaitė, NIB President & CEO André Küüsvek, and representatives from other organisations will discuss the economic development of the past decades and the future prospects of the Nordic-Baltic region in light of geopolitical, economic and environmental challenges. The event will be broadcast live on the NIB website.

NIB is the international financial institution of Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden. The Bank finances projects that improve productivity and benefit the environment of the Nordic-Baltic region. The Bank is headquartered in Helsinki with a regional hub in Riga. NIB has the highest possible credit rating, AAA/Aaa, with S&P Global Ratings and Moody’s.

https://finmin.lrv.lt/

 

'Reducing red tape is one of our top five priorities. We appreciate the fact that subordinate bodies have reacted quickly and come up with thoughtful, impact-oriented solutions. This demonstrates the institutions' willingness not only to react, but also to take the lead in creating a more efficient public sector,' said Lukas Savickas, Minister of the Economy and Innovation.

In response to growing bureaucracy for businesses, L.Savickas has tasked subordinate authorities with identifying the three most bureaucratically burdensome areas and simplifying procedures there. Funding will be cut for institutions that fail to reduce red tape.

This initiative was designed to encourage institutions to review their processes and identify areas in need of change. Under EIMIN, the Innovation Agency envisages simplifying the administration of research and experimental development (R&D) instruments by merging several funding instruments, reducing the number of reports, and creating a unified management system for budget instruments.

Invest Lithuania has proposed over ten measures, including the simplification of application and reporting forms, the elimination of redundant documents, the introduction of a risk-based verification model, and the adoption of digital processes in investment promotion programmes.

Lithuania Travel (Keliauk Lietuvoje) is improving the National Tourism Information System (NTS) to enable automatic data transfer between different platforms and reduce the administrative burden on tourism providers, as well as allowing tourism fees to be declared electronically.

The Centre of Registers intends to transform many aspects of its operations, including digitally verifying customer identities, digitising real estate transactions without a notary, simplifying data provision to authorities, and automating business processes.

The Agency for State Digital Solutions is focusing on consolidating IT infrastructure and developing a software code repository (GOV GIT), as well as other digital solutions, to increase the efficiency of state IT management.

The Lithuanian Metrology Inspectorate will review the time limits for document retention and seek to reduce excessive requirements for certificates of verification.

The National Accreditation Bureau proposes to amend legislation to allow faster transfer of accreditation to reorganised bodies and to shorten the timeframe for examining applications.

The Lithuanian Standards Department intends to speed up procedures for the adoption of European standards, review royalties for standards and simplify access to them.

The Governance Coordination Centre will aim to reduce the volume of reporting for State-Owned Enterprises (SOEs), eliminate redundant information and reduce the frequency of some data reporting.

The Central Procuring Organisation (CPO) is implementing the development of a public procurement information system, which will automate procurement processes, simplify contracting and improve data exchange between institutions.

The changes foreseen in these plans will start to be implemented already this year and most of them will be achieved by the end of 2025. EIMIN will assess the progress and performance of the institutions on a quarterly basis.

https://eimin.lrv.lt/

 

The seventh issue of the defence bonds was distributed on 7-22 April 2025 and will be redeemed on 23 April 2026. This issue will be subject to a 2 % annual interest rate.

During that period, Swedbank concluded 230 contracts for the purchase of the defence bonds for EUR 2.2 million, SEB – 81 contracts for EUR 0.6 million.

The defence bonds are targeted Government savings notes (GSN) to finance defence needs. The peculiarity of the defence bonds is that the State borrows from individuals and businesses cheaper than in the markets, and the latter thus contribute to the financing of the national defence.

The preliminary schedule for the issue of the defence bonds foresees that the eighth issue will be placed on 5-19 May 2025 and redeemed on 20 May 2026. The schedule is updated on a monthly basis and published on the website of the Ministry of Finance.

The defence bonds will be offered through the distributors selected by the Ministry of Finance, i.e. Swedbank and SEB. Natural and legal persons will be able to subscribe the defence bonds in Swedbank or SEB online bank, as well as in SEB bank branches. More information on the acquisition of the defence bonds can be found at www.gynybosfondas.lt and on the website of the Ministry of Finance.

The interest rate for the defence bonds for each issue shall be set taking into account the average interest rate for borrowing by the Government on behalf of the State of an appropriate maturity, but in any case, it may not exceed 2 %, as decided by the Seimas on 20 June 2024. The interest rate will be set and published together with other terms and conditions of the issue placement of the defence bonds on the website of the Ministry of Finance at least one working day before the commencement of the placement of the defence bonds.

When the time comes to redeem the defence bonds, nothing will have to be done - the money for the redeemed defence bonds and the interest due will be automatically transferred to the same account from which the payment for the purchased defence bonds was made.

More information on the defence bonds can be found in the special column “Frequently asked questions” here.

About the Defence Fund:

Please note that the Defence Fund entered into operation on 1 October with the aim of increasing the national defence funding, foreseeing additional sustainable sources of financing. Proceeds from taxes – diverting part of revenue from the corporate income, excise, municipal autonomous income to civil protection and extended Solidarity contribution for a year – will reach the Fund starting from 2025, while the opportunity to contribute to the Defence Fund for everyone started on 1 October last year by making a voluntary contribution (more information can be found on the Defence Fund’s website www.gynybosfondas.lt).

The resources of the Defence Fund will be dedicated for acquisition of weapons, equipment and ammunition necessary for the development of a division-level military unit capacity, infrastructure necessary for the German brigade in Lithuania, acquisition and development of counter-mobility measures, military mobility and double-purpose (civil and military needs) transport infrastructure projects, strengthening and development of the civil protection foreseen in the Law on Crisis Management and Civil Protection.

www.finmin.lrv.lt

 

"Deep tech start-ups often take more than 5 years to bring a product to market. The 5-year deadline therefore limits their ability to qualify for public support for such start-ups. This is important for Lithuania to accelerate its progress towards the 5% of GDP target for the life sciences sector and to increase the role of the high-tech sector in the country's economy," says Marius Stasiukaitis, Vice-Minister of the Economy and Innovation.

Deep-tech start-ups are considered to be high added-value enterprises with a high potential for growth, so it makes economic sense to encourage their development.

Extending the age of such start-ups would also help them to solve complex challenges that require deep expertise and a long development period. It would also further increase the quality of the products and services developed by start-ups that have received public support and provide a breakthrough for the development of high value-added technologies.

The 10-year timeframe has been chosen in the light of recommendations made by the European Commission and the Innovation Agency.

The provisions of the Law on the Development of Small and Medium-Sized Enterprises that extend the age of deep-tech start-ups have yet to be approved by the Seimas.

https://eimin.lrv.lt/

 

Moody’s completed its periodic review of Lithuania’s credit rating on 3 April . The agency’s analysts assess the situation of Lithuania as stable, therefore, it was decided to make no changes in the country’s current ‘A2’ long-term credit rating (stable outlook) and to publish only a report on Lithuania, assessing the country’s economic prospects.

In the report, Moody’s experts emphasized the country’s strong public finances, small but flexible and diversified economy, and reliable institutions. Among the advantages of Lithuania’s credit, analysts highlighted a small, albeit increasing, general government debt, which will remain one of the lowest among countries with a similar rating, as well as strong fiscal governance and the strength and flexibility of the Lithuanian economy, which has been demonstrated in the face of previous economic shocks. The main risk remains geopolitical, due to the neighbourhood with Russia.

Experts believe that the budget deficit will grow in the next few years due to increasing defence spending, while the Lithuanian economy will remain strong due to domestic demand - this year, real GDP growth is expected to be 2.8 %, and next year – 2.5 %. Experts note that although part of defence purchases will be imported, increased defence spending may benefit local industry (Moody's in its report singles out Rheinmetall's project to produce artillery ammunition). The Lithuanian economy will also benefit from a secure energy supply (synchronization with the continental European power grids, disconnecting from BRELL).

Last Friday, Lithuania’s rating of ‘A (high)’ with a stable outlook was affirmed by the international credit rating agency DBRS Morningstar, and last November, Fitch Ratings reaffirmed the country’s rating of ‘A’ with a stable outlook. Meanwhile, S&P Global Ratings published a report on Lithuania in this December, where it assessed the country's economic prospects. The last time analysts of Standard & Poor's agency reviewed Lithuania's rating was in May 2024, setting it at ‘A’ (stable outlook) and leaving the ‘A-1’ short-term credit rating in effect.

Moody's last upgraded Lithuania's credit ratings in February 2021, when the long-term credit rating of A3 (positive outlook) granted in 2015 was raised to A2 (stable outlook). The full statement from the credit rating agency Moody's can be found here.

More information on Lithuania’s credit ratings is available here.

Additional information:

A credit rating is an indicator that provides investors/creditors with consolidated information on the level of the borrower’s ability to meet its financial obligations. A high credit rating indicates a lower risk of default of the borrower/issuer and, accordingly, lower borrowing costs.

Moody's Investors Service is part of a group of three largest credit rating agencies, including Fitch Ratings and S&P Global Ratings. For credit ratings they use particular grades and symbols and set a credit value to borrowing countries and companies by using standardized credit ratings.

www.finmin.lrv.lt

 

Nasdaq Baltic market announces a significant development for investors – from now on, the Nasdaq First North foreign securities list will include bonds alongside with shares. This change will offer Baltic investors greater opportunities to diversify their investment portfolios and make it easier for them to access a broader range of foreign securities through the Nasdaq Baltic Exchanges.

The First North foreign securities trading list is a multilateral trading facility without the status of a regulated market. It enables trading in foreign securities that are primarily listed on other regulated markets within the European Economic Area (EEA).

Thanks to an initiative by the Ministry of Finance of the Republic of Lithuania, as of April 15, eighteen issues of Lithuanian Eurobonds – currently listed on the Luxembourg Stock Exchange – will be admitted to trading on this list. This initiative offers local investors a convenient way to invest in Lithuanian Government Eurobonds, which are considered low-risk securities and well-suited for both beginner and conservative investors.

"We have been looking for ways to make Lithuanian Eurobonds as easily accessible as possible to a wider range of investors, especially in the domestic market. The inclusion of our Eurobonds in this list will strengthen the Baltic market and make it easier for investors to buy them, thus directly contributing to the financing of the state's needs," says Rasa Kavolytė, Director of the State Treasury Department of the Ministry of Finance.

"We are delighted to present a new service to the Baltic investor community and sincerely thank the Ministry of Finance for this initiative. We anticipate that this step will enhance greater investor interest in government securities, contribute to the growth of financial literacy in the region, and increase Baltic market liquidity," says Gediminas Varnas, President of Nasdaq Vilnius Stock Exchange.

"We believe that in the future, the number of instruments in this list will continue to expand through the initiative of exchange members. The diversity of instruments in this segment is an important step towards greater market liquidity and broader investment opportunities in the local market," says Vaidotas Užpalis, Nasdaq Baltic Market Operations Manager.

www.finmin.lrv.lt