A marked recovery in domestic demand – both investment and consumption – are offsetting the impact of worse industrial performance on the development of the domestic economy; therefore, the Bank of Lithuania projects GDP growth to be 3.6% in 2014 and 3.8% in 2015.

The winter 2014 European Economic Forecast published by the European Commission on Tuesday indicates that Lithuania should not encounter any obstacles in fulfilling Maastricht criteria necessary to adopt the euro in 2015.

During the twelve months of 2013, 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 328.8 million (EUR 95.2 million). It is LTL 39.3 million (EUR 11.4 million) or 13.6 percent more than during the twelve months in 2012.

Annual inflation in Latvia was 0.5% in January, the eighth lowest across the European Union, according to the latest data from the EU's statistical office Eurostat. Lithuania's inflation made 0.2% and Estonia 1.6%.

In January 2014 year-on-year, cargo volume transported by air increased. Yet, less cargo was transported by railway and sea transport. Moreover, cargo handling in Klaipeda State Seaport and Butinge terminal also fell.

Algirdas Šemeta, EU Commissioner for Taxation, has welcomed the G20 Finance Ministers' agreement today on a new global standard which will reinforce the fight against tax evasion and improve tax transparency worldwide. At their meeting in Sydney, the G20 gave the green light to the global standard for the automatic exchange of information. They are due to agree implementation plans at their next meeting in September. The new standard was developed by the OECD, with strong support and input from the EU.

How do we nurse Europe's economy back to health? Should the EU keep taking the same austerity medicine or try something different? On 20 February, the EP organised a ReAct event in Madrid to discuss how to create jobs and growth in a sustainable way with academics, MEPs, bloggers and ordinary people.

Lithuania received the written offers of the gas price and other conditions from Russia's gas giant Gazprom.

Co-owner of Lithuania's company Alvo Group Nijole Variakojiene was announced the Business Woman of the Year. The prize of the Export of the Year was presented to the company Sviesos Konversija and the companies Liuks, Orion Global Pet, Kalnapilio-Tauro Group and Diab.

President Dalia Grybauskaitė attended the naming ceremony of the vessel for the Klaipėda liquefied natural gas (LNG) terminal in South Korean city Ulsan. The LNG storage vessel was built for Lithuania in South Korea by Norwegian company Höegh LNG in association with the local company Hyundai Heavy Industries.