Direct Speech

International Internet Magazine. Baltic States news & analytics Tuesday, 16.07.2019, 17:41

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How developments in global food commodity prices affect consumer prices in Latvia

How developments in global food commodity prices affect consumer prices in Latvia

15.07.2019

According to Latvijas Banka research*, a 10% increase in global food commodity prices raises consumer prices by 0.9% in Latvia; and two thirds of a pass-through occurs during the first year after the global price shock. Therefore global food commodity prices are one of the main factors affecting inflation developments in Latvia.

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Inaugural Address by President Gitanas Nausėda at the Seimas

Inaugural Address by President Gitanas Nausėda at the Seimas

12.07.2019

Gitanas Nauseda has on Friday been sworn-in and assumed the position of president of the Republic of Lithuania.Below we give the first speech of the Lithuanian president in parliament. During a solemn parliament sitting, the new head of state put his hand on the Constitution and pledged to be loyal to the Republic of Lithuania and Constitution and to serve honestly and be equally just to everyone.

Latvia's export perspectives amid weaker external environment

Latvia's export perspectives amid weaker external environment

11.07.2019

Brexit, trade wars and subdued global economic growth are just a few of the international topics that have been hitting the headlines recently. Global developments, no doubt, play an important role also in Latvia's economic development; therefore, this article will look at the current situation in Latvia's trade partners and its implications for Latvia's exports.


Minister for Foreign Affairs Pekka Haavisto: EU enlargement is in the interests of Finland

Minister for Foreign Affairs Pekka Haavisto: EU enlargement is in the interests of Finland

10.07.2019

Finland welcomes the efforts to integrate the Western Balkans, located at the very heart of the continent, into Europe.

Address by H.E. President of Latvia Mr Egils Levits Assuming the Office at the Saeima

Address by H.E. President of Latvia Mr Egils Levits Assuming the Office at the Saeima

08.07.2019

“People create states themselves, and actual law of the people is based on the states,” passed an idea Mr Jānis Čakste in 1921. However, the power of the law of all people depends on our skills to take care of the common good of society.


28.06.2019

Borrowing has become a little more expensive this year in Estonia

The average interest rate for housing loans granted in May was up on the previous month at 2.6%, as was that for long-term corporate loans at 2.9%. There has been a slight upward trend in interest margins in 2019, which can partly be explained by the shortage of competition in some segments of the loan market. Interest rates are also being affected by the assessments by the banks of the riskiness of individual lending projects.

21.06.2019

Latvia’s energy sector: challenges and prospects

While possibly regarded as the back-bone of the existence of most economic activities, Latvia's energy sector is currently facing a number of challenges.

14.06.2019

Nord Stream 2: The Russian gas pipeline splitting the European Union in two

The dogs may bark, but the caravan moves on. Russia’s state-owned gas company Gazprom gave an update on progress of the construction of the Nord Stream 2 gas pipeline in early April.

14.06.2019

Although Lithuania’s financial system is stable, both external and internal risks prevail

Despite the deteriorated international environment, Lithuania’s financial system is stable, while banks’ resilience to potential shocks remains high. The country’s financial system is subject to two key risks: financial imbalances in the Nordic states that Lithuania’s banks are interconnected with and stronger activity in Lithuania’s credit and real estate (RE) market. Banks are increasingly more willing to grant loans to households, even though corporate lending has slowed down. Such trends are revealed in the latest Financial Stability Review of the Bank of Lithuania.

14.06.2019

Is the Earth's rotation slowing down or does Latvia's economic growth lose momentum?

The global economic growth is gradually slowing down; therefore, people and businesses in Latvia were also expected to gradually become more cautious, and this would mean lower GDP growth.

11.06.2019

Prices continue to rise much faster in Estonia than in the euro area as a whole

Prices continue to rise much faster in Estonia than in the euro area as a whole.

06.06.2019

Remigration and brain gain in the Baltics

So far this century, no country in the world has suffered a greater depopulation rate than Latvia. In 2014, the population was 19% lower than in 2000. In the past two decades, the three Baltic countries lost a significant portion of their population. A combination of low birth rates, ageing population and emigration contributed to the decline.

03.06.2019

Latvia: Wage increase is driven by businesses' need to attract employees

According to the first-quarter data on wages released by the Central Statistical Bureau of Latvia, at the beginning of the year the average wage growth decelerated, whereas wages in the private sector continued rising at a steady pace. This indicates that wages have not yet responded to Latvia's economic slowdown in the first quarter of 2019.

03.06.2019

Sustainable tourism cooperation in the Baltic Sea region

With 227 mln overnight stays in 2016 of which 24% are international visitors, two digit growth rates between 2014 to 2016, and nearly 640.000 people employed in tourism related industries, tourism belongs to one of the major economic sectors in the Baltic Sea region (BSTC Tourism Market Report “State of the Tourism Industry in the Baltic Sea region”, 2018).

29.05.2019

Estonia: Wages are growing faster in the public sector than in the private sector

Statistics Estonia finds that the average gross wage in the first quarter of this year was 1341 euros a month, which is up 7.9% on a year earlier. The average wage has been rising faster in the public sector than in the private sector since 2017 and this is raising expectations for those working in the private sector. However, wage growth will probably to slow in future for companies to be able to adapt to weaker demand without reducing their staff.

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