Direct Speech

International Internet Magazine. Baltic States news & analytics Sunday, 17.02.2019, 22:20

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Unemployment has fallen to almost the same low level as in the economic boom

Unemployment has fallen to almost the same low level as in the economic boom


Unemployment fell in the final quarter of last year to 4.4% in Estonia, which is the same low level as in the economic boom. As the unemployment figure has fallen however, so the indicators for the functioning of the labour market have improved.

Keyword tags: Analytics, Banks, Direct Speech, Employment, Estonia, Labour-market

Retail trade momentum remains high in Latvia

Retail trade momentum remains high in Latvia


The retail trade dynamics displayed volatility throughout 2018; however, the development of the factors affecting it was favourable. Unemployment continued to decline; in the first three quarters, the annual rate of increase in real net wages exceeded the one observed in 2017; also events dedicated to Latvia's centenary and the National Song and Dance Festival took place.

New driver of GDP growth: domestic consumption takes up the baton from exports

New driver of GDP growth: domestic consumption takes up the baton from exports


With the export growth decelerating gradually, domestic consumption became the main driver of GDP growth in 2018.

DBRS: Is the European Framework against Money Laundering Effective Enough?

DBRS: Is the European Framework against Money Laundering Effective Enough?


In light of the increase in cases of money laundering in Europe, in December 2018 the European Council adopted an action plan for enhanced monitoring. However, the wide variation in the effectiveness of controlsin different European jurisdictions is making supervision of money laundering less effective than if dealt with under a central authority. Moreover, DBRS notes that penalties continue to vary and depend on each European jurisdictions’s legal framework.

Bank deposits increased rapidly at the end of the year

Bank deposits increased rapidly at the end of the year


Traditionally, December is the month when the highest monthly rise in deposits is observed as businesses close their year and households receive additional revenue during the holiday season. Last December saw the same; moreover, the growth of deposits (+4.8%) was the steepest since the last month of 2013 associated with the coming euro changeover.


Access to cash in rural regions has improved in Estonia

There were 751 ATMs in Estonia at the end of 2018, which is some 200 fewer than a decade earlier. Residents of Estonia were also able to withdraw cash from 350 Coop shops and 82 Olerex service stations, and Swedbank clients could get cash from the tills in 24 other shops. Although these accounted for only 1% of all the withdrawals of cash, they substantially improved access to cash in rural areas. There are also 49 bank offices where cash transactions can be made.


The EU’s Common Agricultural Policy and the Baltic Sea

Since the 1970s, the protection of the ecosystem Baltic Sea is in the heart of the littoral states` regional cooperation. The marine ecosystem of the semi-enclosed Baltic Sea with its limited water exchange with the ocean and a high human population density in the water catchment area is highly vulnerable, only joint political efforts of all riparian states are effective in order to protect and improve the ecological status of the sea.


Care facilities for elderly people in Latvia in the context of future globalisation, demography, migration and human resources

In this studyproblems, risks and challenges are pointed out facing long-term social care in relation to demographic and migration trends, with an additional focus on long-term social care services for elderly people. The author has carried out analysis of statistical data, national planning documents, reports and reviews. Domestic and foreign researches in fields related to the specific nature of the study are analysed, as well as conclusions on potential gaps and proposals to address them are made.


Wizz Air makes another round of cancellations of flights from Vilnius

In Autumn 2018 airline announced reduce based aircraft in Vilnius Airport from 4 to 3. Wizz Air said its temporary, and aircraft will come back in Summer 2019. Well, it's not true.


The step by step growth of cooperation between the Nordic and Baltic countries

In 2019, the Norden Associations celebrate their 100th anniversaries. Founded after the First World War, the project was spearheaded by national organizations in Denmark, Norway and Sweden. An important impetus to their formation was the experience of obstacles to foreign trade during the war, to a large extent resulting from the blockades imposed by the warring parties.


Finland and Estonia: Common testing ground

Finland and Estonia are both small and technologically advanced. I have often heard that digitalisation of public services or the use of digital ID is possible in Estonia due its small size but it would be different in a bigger country and in cross-border applications.


Inflation in Estonia in 2018 was the fastest in the euro area

Inflation remained high in 2018 in Estonia. Prices in Estonia rose at twice the average rate for the euro area, averaging 3.4% over the year. The main cause of inflation in Estonia and in the euro area as a whole was the rise in the price of crude oil, as the price of a barrel of oil on world markets rose from 69 dollars at the start of the year to over 80 dollars by October. Inflation in Estonia was driven higher by rises in excise that came in at the start of last year and by rapid wage rises.


Corporate lending going up in November

Last November was marked by the steepest rise in loans to non-financial corporations recorded over a period of the last thirty months.


EU to feel leadership vacuum this year - Spruds

Brexit, the European Parliament elections and a leadership vacuum are the three major challenges the European Union (EU) is going to face this year, Andris Spruds, director of the Latvian Institute of International Affairs, told LETA.


Līce: Riga Airport is Experiencing the Fastest Development in Its History

“In order for Riga Airport to achieve its goal of becoming a modern and convenient North European air traffic hub and serving at least ten million passengers a year by 2023, the company's main task for the next five years is to implement the planned passenger and cargo infrastructure projects,” says Ilona Līce, Chairperson of the Board of Riga Airport.

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