International Internet Magazine. Baltic States news & analytics
Wednesday, 26.04.2017, 07:15
In Latvia, families tend to plan their budgets in short term, Evija Kropa, an expert at the Swedbank Institute for Finances, told LETA, citing a survey conducted by the institute.
Keyword tags: Analytics, Baltic, Banks, Financial Services
According to data of the Central Statistical Bureau (CSB), compared to February, in March 2017 the average level of producer prices in Latvian industry grew by 0.1%. The prices of products sold on the domestic market dropped by 0.1 %, whereas the prices of exported products increased by 0.3 %. The prices of products exported to euro area countries grew by 0.2% and of products exported to non-euro area countries – by 0.4%.
The data compiled by the Central Statistical Bureau (CSB) show that in 2016, the total price index of agricultural output * fell by 0.9%, which was mainly due to the 1.5% decline in prices of crop products. The price index of livestock products reduced slightly – by 0.4%.
In 2016 the smallest government sector debt in the euro area was recorded in Estonia, where it totaled 9.5% of GDP, Eurostat reports.
Statistics Lithuania informs that in March 2017 industrial production totalled EUR 1.69 bln at current prices and, compared to February, based on provisional data, decreased by 3.1% at constant prices (seasonally and calendar unadjusted – grew by 4.7%).
2016, the general government budget surplus accounted for EUR 3.4 mln or 0.01% of the Gross Domestic Product (GDP), whereas the general government consolidated gross debt amounted to EUR 10 038.3 mln or 40.1 % of the GDP, according to the results of the April 2017 Notification on General Government Budget Deficit and Debt1 compiled by the Central Statistical Bureau (CSB), which has been drawn up in line with the methodology of the European System of Accounts (ESA 2010).
Latvia showed the second lowest naturalization rate - the number of citizenships granted against the number of non-national citizens residing in the respective country - among EU member states in 2015, the latest Eurostat data shows.
Lithuanians spent a total of 378.4 mln euros on home purchases in the first quarter of this year, up 18.9% compared with a year ago, but down by 8.9% q-o-q, according to the non-final figures from the Center of Registers showed on Friday writes LETA/BNS.
Bank of Estonia:Financial stability in Estonia could be threatened by rising prices and increasing transaction activity in the real estate market
Most of the risks to financial stability in Estonia are low in the near future. The ability of companies to service their loans is supported by a recovery in economic growth and slower growth in wages Transaction activity increased in the real estate market and prices started to rise faster, though this has so far been in line with rising incomes. Rapid growth continues in bank loans to companies and households. The debt of the non-financial sector fell as a ratio to GDP as borrowing from abroad was modest, and Eesti Pank is holding the countercyclical buffer rate at 0%. A tax on the financial sector may have a negative side effect on financial stability and the financing of the economy
A drop in the number of potential moms is affecting the number of births in Latvia, demographer Ilmars Mezs told LETA.
According to Statistics Estonia, in March 2017, the producer price index of industrial output changed by 0.0% compared to February and by 3.1% compared to March 2016.
According to Statistics Estonia, the change of the construction price index in the 1st quarter of 2017 was 0.4% compared to the 4th quarter of 2016, and 0.7% compared to the 1st quarter of 2016.
Provisional demographic indicators on the first three months of 2017 compiled by the Central Statistical Bureau (CSB) show that, compared to the same period a year ago, in the 1st quarter of 2017 in Latvia 365 children fewer were born (drop of 6.9%).
European Commission identified ways and measures to support growth in the EU regions, which are lagging behind in terms of growth or wealth. Main source of support comes from the EU cohesion policy and corresponding funds. New report analyses reasons these regions have not yet reached the expected levels of growth and income. Although the Baltic States are not mentioned, there is no room for complacency.
Production in Latvia's construction sector in the fourth quarter of 2016 decreased 11.8 percent as compared to the same quarter in 2015, which was the sixth biggest drop across the European Union member states, according to Eurostat data.