Despite Latvia's economic growth, currently the steepest in the European Union, Latvia's accomplishments are rather relative when compared to those of Lithuania and Estonia, according to the latest macroeconomic report released by SEB Bank., informs LETA/Nozare.lv.

New rules for investing €325 billion in regional development projects across the EU in 2014-2020 were approved by the Regional Development Committee on Wednesday. This funding - roughly a third of the EU budget - will boost local growth and job creation. MEPs ensured that local and regional partners will have a bigger say in decisions, theme-based planning will be more flexible and regional policy will focus more closely on environmental issues.

US energy giant Chevron claims it does not intend to pull out of Lithuania in response to the Seimas' decision to tighten the regime of shale gas exploration and production, Prime Minister Algirdas Butkevičius said.

"We are glad that the beginning of the Lithuanian Presidency of the Council of the EU will be marked by an event that is very significant for global economy. After all, if the negotiations are successful – and we shall make every effort to ensure that they are – not just the growth of economy and new jobs will be fostered, and new possibilities for EU, including Lithuanian, business given, but they will also have a positive impact on the development of global trade rules and standards," said Linas Linkevicius, the Minister of Foreign Affairs of the Lithuanian EU Presidency, which will last for six months.

Prime Minister Algirdas Butkevičius argues that Vilnius City municipality is bankrupt since its financial obligations are 208 % above its income with loans comprising 118 % of the budget. This was declared during the press conference on Tuesday morning.

The Minister of energy Jaroslavas Neverovičius this Monday in Brussels presented the priorities of the Lithuanian presidency in the energy sector. According to him, the most important policy areas are the completion of the EU energy market and the strengthening of the external energy.

It has been already three months since Lithuanian construction workers started building 'Akropolis' type of shopping mall in Mink, Belarus. More than 100 Lithuanians are working on the project.

On June 4-5, field meeting of the European Union energy and nuclear energy attaché is being held in Lithuania.

Latvia's plans to switch to the euro from 1 January 2014 were strongly backed by MEPs during a vote on Wednesday 3 July. Burkhard Balz, who is responsible for this topic in EP, told us that support from Brussels would help to boost public support in favour of the single currency in Latvia. The latest polls show support is now about 40% and increasing. The final decision will be made by the EU's finance ministers on 9 July.