EconomyOn Wednesday, MEPs decided to open talks with Council on new economic governance rules, prioritising investment and national ownership and improving the system’s credibility. International energy terminal operator KN (KN Energies AB starting 10th January 2024) is kicking off the year 2024 by securing the public tender for the commercial management of four German liquefied natural gas (LNG) terminals on the North Sea coast. The company has signed contract with Deutsche Energy Terminal GmbH (DET), the German state-owned company that operates state-controlled LNG terminals. The Distributional Wealth Accounts (DWA), produced by the European System of Central Banks (ESCB), aim at meeting the growing interest in complementing macroeconomic sector accounts by distributional information. The National Energy Regulatory Council (NERC) has launched the second tender for the selection of a developer to develop a 700 MW offshore wind farm in the Baltic Sea. Tenderers have to submit their applications and documents to NERC by 14 April 2024. The consolidated account management system of the State Treasury implemented by the Ministry of Finance gives the possibility of centralised management of public funds, ensuring their effective management, use, additional control of funds and the unified execution of payments. Currently, 229 out of almost 500 budgetary and public bodies have accounts with the State Treasury, which must be transferred to the new system in accordance with the Law on State Treasury. While, the remaining bodies will gradually join the scheme by 2028. Additional funds for developing environmentally friendly products and technologies2024-01-12, 14:51Following strong interest and innovative solutions from businesses, the Ministry of the Economy and Innovation is launching a further call to promote the development and deployment of environmentally friendly products or technologies. The call is aimed at small and medium-sized enterprises operating in non-industrial sectors that develop and implement green innovations, and will provide up to €50,000 in support. Resumption of growth this year will further enhance the purchasing power of population2024-01-11, 14:38After a soft landing last year, the national economy is expected to take off 1.7 % in 2024. Inflation will continue to slow down from 8.8 % last year to 2.8 % this year. The unemployment rate should remain stable in 2024, while the wage growth should be fairly rapid and exceeding 7.5 %. This is foreseen in the updated Economic Development Scenario of the Ministry of Finance. Minister of Finance Gintarė Skaistė assessed the third year of the term of office unsparing of challenges and uncertainty, though allowing not only to pursue necessary changes in a targeted manner, but also to implement projects of strategic importance. The Seimas approved the proposal of the Ministry of Finance to increase the non-taxable amount by 20% from the New Year2024-01-09, 14:26The Seimas unanimously approved the draft amendment to the Law on Personal Income Tax submitted by the Ministry of Finance, following which from 1 January 2024 the maximum applicable non-taxable amount (NTA) is increased by 20 %, up to EUR 747. According to Minister of Finance Gintarė Skaistė, the approval of the Ministry's proposal by the Seimas will allow those earning the minimum monthly wages (MMW) to receive by EUR 75.2 higher net monthly income next year, or by EUR 902.4 more per year. EUR 1 Billion for the Lithuanian Economy: 53 Calls for More than EUR 957.5 Million Have Been Launched This Year2024-01-08, 13:59The Ministry of the Economy and Innovation has finalised a plan for EUR 1 billion to boost the country’s economy and create more opportunities for Lithuania. In total, more than EUR 957.5 million of calls have been launched. Almost 3,000 business representatives have already applied for financial instruments. |
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