International Internet Magazine. Baltic States news & analytics
Wednesday, 18.12.2013, 09:47
According to Statistics Estonia, in 2012, 18.7% of the Estonian population lived in relative poverty and 7.3% in absolute poverty. The overall percentage of people living in relative poverty increased 1.2 percentage points compared to the previous year, but the percentage of people living in absolute poverty decreased 0.8 percentage points.
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The maximum annual salary amount from which social insurance contributions can be made will be LVL 32,600 or EUR 46,400 as of the year 2014, the government decided today by approving the Welfare Ministry's amendments to the regulations on social insurance contributions, informs LETA.
LTL 1 million (EUR 288 thousand) per months – is the sum of money, which is expected from the additional excise duty on the natural gas. As a result, the heating price will be increased in Lithuania, informs LETA/ELTA, referring to Lietuvos rytas.
General government consolidated budget surplus amounted to LVL 162.8 million at the end of November 2013, reports LETA, referring to the State Treasury's data.
On December 16, at the EU Agricultural and Fisheries Council Lithuania achieved one of its most significant Presidency's goals – formal adoption of the agreement on the Reform of the Common Agricultural Policy (CAP) and the transitional measures for the year 2014, reports LETA/ELTA.
The city of Tallinn budget collected 416 mln euros of revenues in the first 11 months of the year 2013, forming 89% of the annual plan without financing activities, LETA/Postimees Online reports.
Attorney Aldis Gobzems and his colleagues have rectified all shortcomings in their LVL 100 million claim against the builders and developers of the Maxima supermarket in Riga's Zolitude neighborhood, as well as against the Riga City Council, informs LETA.
Lithuania's Prime Minister Algirdas Butkevicius promised that the pensions which were reduced during the crisis in 2008 were to be started to be compensated in 2014, informs LETA/ELTA.
"Lithuania's economy growth is one of the most rapid in the European Union in 3 quarters of 2013 and the reliability index in Lithuania is highest in the Baltic States. It means that the trust of Lithuania's citizens related to their future is increasing and they feel socially safer – they buy and invest more. At the same time, this is the sign of the improving life showing that the Government's policy of the encouragement of the economy is on the right way," said Lithuania's Prime Minister Algirdas Butkevicius after the press conference organized on the occasion of the 1st anniversary of the current Government, informs LETA/ELTA.
LVL 150,000 worth of funding is required for the Zolitude tragedy commission to prevent all suspicions of the government or the Riga City Council affecting its operations, as the commission's chairman, Janis Kazocins, told reporters today, informs LETA/Nozare.lv.
Chief Executive Officer of Lithuania's Siauliu Bankas and the Deputy Chair of the Board Audrius Ziugzda decided to end his work in Siauliai Bankas. Ziugzda will continue his office until January 31 in 2014, informs LETA/ELTA.
According to the experts, the strict supervision of the banks would prevent from the machinations and, at the same time, it would prevent the depositors from the trembling for their money. Moreover, the experts highlight that, to date, the authorities connived at the activities of the commercial banks in Lithuania, informs LETA/ELTA, referring to Vakaro zinios.
Robert J. Shiller visiting Lithuania: prevention of asset bubbles is the basis of financial stability
The global financial crisis showed that the real estate price bubbles could have dire consequences not only for banks, but for nations as well and, finally – for all tax payers. Therefore, restructuring is necessary, which would help block new bubbles, in the words of Robert J. Shiller, an economist, current Nobel Prize laureate, and Yale University professor of Lithuanian descent, writes LETA/ELTA, referring to the Bank of Lithuania.
Fitch Ratings has affirmed Lithuania's Long-term foreign currency Issuer Default Rating (IDR) at BBB+ and its local currency IDR at A-, the company announced in a statement. The issue ratings on Lithuania's senior unsecured foreign and local currency bonds have also been affirmed at BBB+ and A-, respectively, informs LETA/ELTA.
Ukio Bankas bankruptcy administrator distributed and transferred LTL 1.453 million in funds from the Guarantee Fund to the former staff of the bank in bankruptcy. First payments went to 410 first ranking creditors, the bankruptcy administrator announced in a press release, informs LETA/ELTA.