International Internet Magazine. Baltic States news & analytics
Saturday, 27.08.2016, 12:51
The differences abound both in the ways the three Baltic States re-established their independence and pursued courses in socio-economic development. It seems that at a time when most global states are “blocking” to make life easier, the Baltic States need a “common course”, which our magazine has advocated for long…
Keyword tags: Analytics, Economic History, Economics, EU – Baltic States, Modern EU
Lending to the private sector in eurozone countries picked up somewhat in July, AFP news agency reported, citing the information released on Friday by the European Central Bank (CEO), writes LETA.
Average gross monthly earnings in Lithuania's economy, excluding sole proprietorships, rose by 8.1 percent in the second quarter of 2016 compared with a year earlier to reach 771.9 euros, Statistics Lithuania information cites LETA/BNS.
Tax revenues in the Latvian budget beat the target by 0.4 percent in the first seven months of this year, the Finance Ministry informed LETA.
While the new joint unit for Baltic banking of Nordea and DNB will increase competition on the Estonian retail market, risks of the Latvian and Lithuanian banking market will have a greater impact on the financial stability of Estonia in the future, the Bank of Estonia said on Thursday, reports LETA/BNS.
Over the last few years, the information and communications technologies sector (ICT) has been among those with fastest growth. It is no secret that in recent years rapid expansion of different ICT services could be observed in Latvia: programming, data storage, development of mobile applications, development of various complex ICT solutions, etc. However, unlike retail trade or manufacturing, the sector usually is not in the spotlight of economic analysts and policy makers. This can be explained by the size of the sector – ICT only accounts for about 5% of the total value added, even though this level is close to the European Union's average. Nevertheless, the success of the sector should be noted: it is one of the fastest growing, with high productivity levels, high average salary, implementation of latest technologies, and other positive features.
The loan and lease portfolio continued to increase relatively quickly in July, growing by 5% over the year.The average interest rate on loans has risen slightly in recent months.The volume of deposits was 7.3% larger in July than a year earlier
ata of the Central Statistical Bureau (CSB) show that, compared to June, in July 2016 the level of construction costs in Latvia grew by 0.3 %. Prices of building materials increased by 0.5 %, maintenance and operational costs of machinery and equipment rose by 0.3 %, whereas labour remuneration of workers did not change significantly.
Material investments in Lithuania totaled 2.4 bln euros in the first six months of 2016, down by nearly 2% year-on-year, Statistics Lithuania said on Thursday, cites LETA/BNS.
Agricultural produce purchase prices in Lithuania declined by 6.9% in July year-on-year, Statistics Lithuania said on Thursday, reports LETA/BNS
The trust that Estonian citizens have in the major public institutions remains high, with Estonians giving higher scores to the trustworthiness of the legal system, the government and the European Union than citizens of EU member states on the average, reports LETA/BNS.
Robertas Dargis, the head of the Lithuanian Industrialists Confederation, and Gitanas Nauseda, adviser to SEB bank president, top the list of the country's most influential economists and businessmen, LETA/BNS reports according to delfi.lt information.
Borrowers in Latvia have become more knowledgeable and responsible, taking their time to study interest rates and sometimes spending several weeks to consider loan offers before actually taking a consumer loan, according to a survey carried out by DNB Banka.
Latvian banks issued EUR 217.1 mln in mortgage loans to households in January-June, which is 71% more than in the first half of 2015, BC informs Association of Latvian Commercial Banks` representative.