On 5 July, Republic of Lithuania Attaché for Monetary and Banking Affairs will be starting her work in Brussels. This position will be held by Agnė Dirmeikienė, who won the competition for this post. Agnė previously worked as Senior Economist at the Financial Stability Department of the Bank of Lithuania and recently joined the European Central Bank (ECB).

Bank of Lithuania issues new coins dedicated to Sea Festival; no violations identified during inspection.

If the Government approves the drafts of the Law on Electronic Communications and related legal acts presented by the Ministry of Transport and Communications, it is aimed to create conditions for the sustainable development of 5G and other high bandwidth networks in Lithuania. In 2023, ultra-fast 5G Internet connection will be available in the country’s five largest cities, and by 2025 in the territory of all cities and towns, on major transport routes and nodes.

After the Government has approved the draft of the Law on Electronic Communications (LEC) and other relevant legislative acts submitted by the Ministry of Transport and Communications, steps have been taken to make Lithuania one of the first countries in the European Union (EU) to regulate and give the right for service users to receive public communications services via embedded subscriber identification modules (eSIM).

The Bank of Lithuania published the monetary financial institution (MFI) balance sheet and interest rate data for May 2021, which show that:

The new EU Climate Law increases the EU’s 2030 emissions reductions target from 40% to at least 55%. With the contribution from new carbon sinks it could raise to 57%.

According to Minister of Transport and Communications Marius Skuodis, the sanctions on Belarus targeting sectors are likely to have a marginal impact on the economy of Lithuania.

Do not be surprised to soon meet Belarusians in Vilnius municipality. The capital’s municipality, which was among the first ones to hoist the historic Belarusian flag on its building, is opening its doors wide open to our neighbours, offering premises that fit 20 workplaces to start-ups, businesses, the media or representatives of NGOs, whom the Belarusian regime forced to move out. Such a decision has been approved today by the members of the Vilnius City Council.

On Tuesday, Minister of Transport and Communications Marius Skuodis met with the management of the Irish airline company Ryanair in the Ministry to discuss the company’s plans regarding further investment into aircraft maintenance infrastructure in Kaunas airport and regional development opportunities upon the completion of Rail Baltica.

In Q1 2021, banks operating in Lithuania granted more loans to households for house purchase and loans to businesses, however, the flow of loans has not yet reached the pre-pandemic level. Customer deposits with banks continued to grow.