EconomyDuring the twelve months of 2014, the Group consisting of Grigiskes AB, Baltwood UAB, Klaipedos kartonas AB, Mena Pak PAT, and Klaipeda Recycling UAB achieved the consolidate sales turnover of LTL 343.7 million (EUR 99.5 million). It is LTL 14.9 million (EUR 4.3 million) or 4.5% more than during the twelve months in 2013. At a meeting with the US Secretary of Energy Ernest Moniz held on 24 February in Washington, Lithuanian Minister of Energy Rokas Masiulis confirmed Lithuania's readiness to purchase liquefied natural gas (LNG) from the USA as soon as US companies start exporting it. Invalda LT, AB group has published its unaudited results for the 12 months of 2014. Consolidated net profit attributable to shareholders of Invalda LT, AB totalled to EUR 3.106 million (LTL 10.725 million), in the same period of 2013 it was EUR 31.069 million (LTL 107.275 million). The Lithuanian Central Credit Union (LCKU) earned EUR 257,000 in 2014, by 12% more compared to 2013, when it earned EUR 229,000. The LCKU provides financial services to 63 credit unions. The State Tax Inspectorate (VMI) announced the list of ten companies that paid the most taxes in 2014. Petroleum company AB Orlen Lietuva remained on the top of the list in 2014 as it paid EUR 385 million in tax. At the end of 2014, residents of Lithuania gave a better assessment to changes in both their household's and the country's economic situation during the last 12 months than a year ago. Statistics Lithuania reports that in December 2014, the volume of butter exports to Uzbekistan stood at 1,026 tons for EUR 4.7 million, which accounted for 12.8% of total Lithuanian-origin dairy exports as total exports were worth EUR 36.8 million. Based on preliminary data of the Ministry of Finance, the state and municipal budgets in January 2015 received by EUR 11.4 million (2%) more revenue than projected and by EUR 12.41 million (2.2%) more than in January 2014. Swedbank Lithuania's data shows that residents of Lithuania in 2014 borrowed EUR 2,317 (LTL 8,000) on the average for their consumer needs. The most popular credit repayment term was 5 years as 40% of all those borrowing wanted to repay their credits in this particular period of time. In 2014, Swedbank issued more than half of all the new consumer credits on Lithuania's overall market of commercial banks. The total value of Swedbank's consumer credit portfolio accounted for EUR 153 million in late 2014. Residents of Lithuania most often apply for a consumer credit when planning their house repair and buying furniture and home appliances. Last year, the share of those who took out a loan for these purposes accounted for around 40%. Meanwhile, a total of 30% of borrowers obtained the bank's credit to buy a vehicle. The remaining share decided to get a consumer credit in order to mend their vehicles and for other consumer needs, including healthcare and entrainment.
Stasys Dailydka, head of Lithuanian Railways, calls 2014 the year of record investment as the company invested around EUR 400 million. |
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