EconomyMinister of Finance Rimantas Sadzius in Lithuania favourably assesses nine-month tax collection trends and says that the annual state revenue plan will most likely be fulfilled in 2014. Lithuania's long-term debt security interest rates in the secondary market reached record lows, and the euro adoption is one of the main reasons which drives the growing trust of the international financial market's participants in Lithuania. In August 2014, the build-up of the current account balance (CAB) in surplus (LTL 552.9 million, or EUR 160.1 million) was driven by a strong decline in the trade balance deficit, as well as the remaining surplus in the balances of services, secondary income and capital account. Based on preliminary assessment by the Ministry of Finance, revenue collections in the first nine months of 2014 surpassed expectations by 0.8% in Lithuania. Two entrepreneurs from Lithuania will be working in the Akron Global Business Accelerator in the next month. Base interest rate will become by 1% more expensive since 2015 when loans obtained in the litas will be converted to the euro. In 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. |
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