Archives for Baltic

Baltic leaders define 4 joint priorities for EU budget

The next budget of the EU has to guarantee better connections, a more balanced development and well-being of regions, fairer direct support to farmers, and funding for dealing with migration and security issues, Estonian Prime Minister Juri Ratas, his Latvian counterpart Maris Kucinskis and Lithuanian President Dalia Grybauskaite said in a joint address to their EU colleagues.

Latvia showed faster GDP growth than EU on average in Q4

During the fourth quarter of 2017, Latvia’s gross domestic product (GDP) grew at a faster rate than the EU economy on average, according to a fourth-quarter flash estimate on the bloc’s 18 member states released today by Eurostat. During the fourth quarter of 2017, Latvia’s seasonally adjusted GDP expanded by 4.8% against the same period a year ago. Hungary’s GDP grew just as quickly and Romania reported an even faster growth as its economy increased by 7% year-on-year. These three countries were followed by Poland (+4.3%), Finland and Cyprus (+3.9% in both countries), Bulgaria, Lithuania, Austria and Slovakia (+3.6% in all four countries). GDP grew in annual terms in all the EU member states reporting their data. During the last quarter of 2017, the economy of the whole EU grew by 2.6% against the fourth quarter of 2016., while the Eurozone recorded a 2.7% growth. Source

Latvia beats schedule in implementation of EU funds

By January 24, 2018, projects with the EU co-financing worth more than EUR 2.5 billion have been launched which is more than a half of the total EU financing available to Latvia or EUR 4.4 billion. Transport, environmental and territorial development, social inclusion and education projects show the greatest progress in absorption of the EU funds in Latvia,.

Nordic and Baltic countries sign cooperation agreement on ensuring financial stability

The ministries, central banks, financial supervision authorities and crisis resolution institutions of the Nordic and Baltic countries have signed a cooperation agreement of mutual understanding on the organization of cooperation concerning cross-border financial stability. The parties of the signed cooperation agreement include Estonia, Latvia, Lithuania, Finland, Sweden, Denmark, Norway and Iceland.