Economy

The EU-harmonised annual inflation is at 1.6% in Lithuania in December, according to a flash estimate from the State Data Agency.

Lithuania is set to have its first Michelin-rated restaurant next year, says Minister of the Economy and Innovation Aušrinė Armonaitė.

Minister of the Economy and Innovation Aušrinė Armonaitė met in Germany with the heads of the DACH region of the IT service provider NTT DATA, to whom she presented the advantages of the investment environment in Lithuania, discussed the company’s development plans and invited them to invest in Lith...

Minister of the Economy and Innovation Aušrinė Armonaitė on Wednesday started her three-day working visit to Germany. The minister is scheduled to meet with the management of Continental AG, NTT DATA and one of the largest German automotive groups to discuss their investment and development plans in...

Minister of the Economy and Innovation Aušrinė Armonaitė on Thursday met with Tae-won Chey, CEO of the South Korean business corporation SK Group, who arrived in Vilnius for talks on opportunities for the company to expand its operations in Lithuania, the ministry said.

Construction of Bio City, Europe’s largest biotechnology city and the first one in the Baltics, has officially begun in Vilnius. Its first complex is expected to open in the second quarter of 2024.

According to Statistics Estonia, 22.5% of Estonia’s population lived at risk of poverty and 3.5% in absolute poverty in 2022. Compared with 2021, the share of people living at risk of poverty decreased by 0.3 percentage points and the share of people living in absolute poverty increased by 2.1 perce...

Austrian Airlines will increase the frequency of flights between Vilnius and Vienna starting April 2024.

On Wednesday, the Government decided that the tender for the right to develop the second 700 MW offshore wind farm would be launched on 15 January 2024, reports the Ministry of Energy.

On Wednesday, eight umbrella organisations uniting more than 1,000 Lithuanian NGOs and trade unions addressed governmental bodies urging politicians not to delay the tax reform and to implement wider systemic changes. The written address calls for adequate funding of public services that would help ...

In October 2023, nearly 597,000 passengers were served in Vilnius, Kaunas and Palanga Airports, stated joint stock company Lithuanian Airports.

The State Data Agency (Statistics Lithuania) reports that based on data of the Labour Force Survey, in Q3 2023, the unemployment rate stood at 6.2 percent and, compared to Q2 2023, increased by 0.3 percentage point, compared to Q3 2022 – increased by 0.5 percentage point.

On Tuesday, the Seimas of Lithuania voted against a proposal to allow participants of the 2nd pillar pension system to withdraw all accumulated funds. A proposal by the president to authorise one-off withdrawals of 25% of funds was also rejected.

The Government has approved a proposal by the Ministry of the Economy and Innovation to restore the territory of the Kaunas Free Economic Zone (FEZ) as previously envisaged, the ministry said in a press release on Wednesday.

On Thursday, Minister of the Economy and Innovation Aušrinė Armonaitė met with Levente Juhasz, head of policy for Lithuania at Google. The meeting discussed artificial intelligence, security, innovation in the public sector (GovTech) and an introduction to the soon-to-be-launched digital marketing a...

Minister of the Economy and Innovation Aušrinė Armonaitė says Lithuania recycles around 4% of its waste into new products and is lagging far behind the European Union (EU) average of 12%. The ministry is thus encouraging smaller industries to engage in recycling and developing new products and to ap...

Minister of the Economy and Innovation Aušrinė Armonaitė has invited Japan’s innovative businesses to cooperate with Lithuanian companies in engineering and information technologies, the ministry reports.

Minister of the Economy and Innovation Aušrinė Armonaitė is sceptical of the presidency’s idea that the State Defence Council could solve the problem of drug use by teenagers. The Freedom Party’s leader says this would be ineffective and instead suggests focusing on awareness raising and prevention ...

Impact Day will bring more than 150 well-known and inspiring speakers to Tallinn, Põhjala factory this Thursday and Friday. Approximately 2,000 people will take part in the festival.

Minister of the Economy and Innovation of Lithuania Aušrinė Armonaitė is paying a working visit to Japan on 2-5 October. She will meet with governmental and business representatives to discuss investment opportunities in Lithuania and further cooperation.