EconomyStatistics Lithuania informs that in 2016, based on revised data, the general government surplus totalled EUR 103 million, or 0.3% of gross domestic product (GDP). In 2015, the general government deficit stood at 0.2% of GDP. At least four foreign and one Lithuanian companies are interested in aircraft maintenance, repairs and overhaul (MRO) at the Kaunas free economic zone (FEZ), however, the investments that would create up to 2,000 well-paid jobs with an average monthly salary of over 2,000 euros are stalled by the government's indecision. Polish-owned Lithuanian oil company Orlen Lietuva posted a net profit of 140.8 million euros (USD 165.4 mln) for the first nine months of 2017, up 16%, from 120.9 million euros (USD 142.1 mln), a year ago. The most valuable enterprise in the Baltic countries is Swedbank Group and the Latvian state-owned energy group Latvenergo is more valuable than the Estonian state-owned energy company Eesti Energia, it can be seen from a study carried out by the investment bank Prudentia and the Riga stock exchange. Norway's furniture production group Ekornes is considering expansion in Panevezys, northern Lithuania, founding a subsidiary in the Panevezys free economic zone (FEZ). Exports increased across the three Baltic states in the first eight months of 2017 from the same period of 2016, Eurostat said on Monday. Klaipėda’s Free Economic Zone (FEZ) secured five awards, including one for Quick Launch opportunities, at the Global Free Zones of the Year 2017 rankings published by Financial Times’ fDi Intelligence service annually since 2010. Klaipėda FEZ has been also recognized for its specialism in the plastics industry, contribution to the national economy, energy efficiency and expansion of its investors. Kelprojektas, Lithuania's transport infrastructure engineering company, has won a contract of nearly 900,000 euros for Lietuvos Gelezinkeliai (Lithuanian Railways, LG) for expropriation of land in the public interest, i.e., the Rail Baltica railway. Lithuania's Prime Minister Saulius Skvernelis says that people are more sensitive about inflation than they should be, adding that the price hike would not be steep enough to outdo growing salaries. The freight traffic at the Lithuanian seaport of Klaipeda, which boosted the cargo handling volume by 5 percent to 31.1 million tons this year and by 6% in September alone, was mainly raised by bulk cargo, says the port's CEO Arvydas Vaitkus. |
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