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  • Chief economist on Euro arrival and Rouble spiral
    may result in a fall in this transit activity by up to 50 percent In effect reexports are expected to fall by up to 50 percent in the coming years if oil prices remain as weak as they are now and if the rouble remains as weak as its present level So this will definitely have a negative effect particularly for the transport sector for infrastructure and a little bit for the wholesale trade sector This is actually the main challenge for the Baltic economies Regarding manufacturing production from the Baltics actually all Baltic States have shifted very much to exporting to the West For example Lithuania now only sends 5 percent of its manufactured products to Russia Latvia exports a slightly higher percentage of its manufactured products but it is really very similar in this respect Most of the manufacturing was food products and so since they were banned anyway during Russia s sanctions in August that had already taken the hit So this should be kept in mind for our regional manufacturers the weakened rouble should not have a large material effect but for our transport sector and logistics this may have a bigger effect The third channel affected is the tourism sector because all three Baltic States are frequented by tourists from Russia and in Lithuania in particular there are lots of tourists from Belarus too which has been suffering economically as well Lithuania has just joined the eurozone this January Will this push up prices It has already pushed up prices of some products especially with regards to the service sector But this was done in the lead up to Lithuania adopting the euro when some companies just rounded up numbers so that they would look better in euros Now however we don t see any big increases in prices and actually we can only talk about some decimal percentage points in general and this is supported by the experience of Latvia and Estonia who joined the eurozone in 2013 and 2011 respectively So just to give you one example in Lithuania people were very fearful of rapidly rising prices If you look at consumer surveys as much as 45 percent of consumers were thinking that over the next 12 months prices would increase dramatically This was just a couple of months ago But we expect these fears to fade away soon In both Latvia and Estonia it was the same Just a few months before the introduction of the euro more than a third of consumers feared rapidly rising prices But just a few months afterwards those fears fell to 10 percent Effectively those fears did not materialise In Latvia you had some jump in prices in some specific areas but overall the index only increased by 0 6 0 8 percent because of the euro and Estonia it was even lower So in Lithuania we can expect that there will be some increase because of rounding effects but it will be definitely less than

    Original URL path: http://www.baltictimes.com/chief_economist_on_euro_arrival_and_rouble_spiral/ (2016-02-13)
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  • Europe’s Shadow Budget
    Commission s 315 billion investment plan for 2015 2017 have finally come to light The program announced by European Commission President Jean Claude Juncker in November amounts to a massive shadow budget twice as large as the European Union s annual official budget that will finance public investment projects and ultimately help governments circumvent debt limits established in the Stability and Growth Pact The borrowing will be arranged through the new European Fund for Strategic Investment operating The article you requested can be accessed only by subscribing to the online version of The Baltic Times If you are already subscribed to The Baltic Times please authorize yourself Log In In case you don t have a subscription yet please visit our SUBSCRIPTION section Comments Related Articles Households purchasing power growing rapidly in Estonia Chief economist on Euro arrival and Rouble spiral Strong wage growth continues in Estonia Subscribe Advertise Log In Please enter your username and password Forgot your password Login Related Articles Small science delivers big results Sluggish times for Estonia s exports Kazakhstan following Russia s lead bans Baltic fish Estonia s anti money laundering laws clamp down on Bitcoin traders Subscribe A subscription to The Baltic Times is a cost effective way of staying in touch with the latest Baltic news and views enabling you full access from anywhere with an Internet connection Subscribe Now About The Baltic Times The Baltic Times is an independent monthly newspaper that covers latest political economic business and cultural events in Estonia Latvia and Lithuania Born of a merger between The Baltic Independent and The Baltic Observer in 1996 The Baltic Times continues to bring objective comprehensive and timely information to those with an interest in this rapidly developing area of the Baltic Sea region Read more Our news analysis and

    Original URL path: http://www.baltictimes.com/europe___s_shadow_budget/ (2016-02-13)
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  • News search
    series of events throughout 2016 after the Ministr Read More Tartu Maraton to consider alternative route due to poor weather Two weeks before the planned start of 44th Tartu Maraton snow conditions are still very poor in Estonia and it is extremely unlikely that Tartu Read More Latvians win International Snow Sculpture Contest in Sapporo RIGA The Latvian team have won the main prize of the International Snow Sculpture Contest at the 67th Sapporo Snow Festival in Japan the Latv Read More Tibet s New Year to be celebrated in Vilnius VILNIUS Tibet s New Year Losar will be celebrated in the Tibet Square in Vilnius on Sunday Under the Tib Read More Final world tour Jose Carreras life in music RIGA As one of the world s opera grandees the Spanish tenor Jose Carreras has been acclaimed as one of great operatic vocal artists of Read More US pressures Latvia to clean up its non resident banks RIGA Will pressure from the United States fear of losing the last dollar correspondent account and an impending vote on admission into the O Read More Latvia s AirDog Man s best drone friend Jumping off a mountain cliff and landing in deep powder snow filmed and chased at high speed by a purple and yellow drone That Read More Previous 2 3 4 5 6 7 8 9 10 11 Next Subscribe Advertise Log In Please enter your username and password Forgot your password Login Subscribe A subscription to The Baltic Times is a cost effective way of staying in touch with the latest Baltic news and views enabling you full access from anywhere with an Internet connection Subscribe Now About The Baltic Times The Baltic Times is an independent monthly newspaper that covers latest political economic business and cultural events

    Original URL path: http://www.baltictimes.com/search/jcms/start/10/ (2016-02-13)
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  • News search
    not the case for Lithuania s new political party the Read More Meet the petrolhead Mayor of Kaunas Unexpectedly for the mayor Unexpectedly for the mayor of a country s second largest city Visvaldas Matijosaitis Mayor of Kaunas tells T Read More Lietuva in brief Lithuania s Papal interpreter Lithuanian monsignor Visvaldas Kulbokas will interpret at the his Read More The largest Scots pine tree in the world has been found in Estonia Found in the Veriora municipality of Estonia s southeastern Polva county the tree measures 46 6 metres in height Accordin Read More Finnish MPs Finland would respond if Estonia needed military help TALLINN HELSINKI Heads of the Finnish parliament s defense and foreign affairs committees agree that Finland would help Estonia in some Read More Estonian president voices concern over EU s lagging behind in digital economy TALLINN DAVOS Speaking on Jan 23 at the World Economic Forum in Davos Switzerland Estonian President Toomas Hendrik Ilves urged the Europea Read More Estonia Third of young people have experienced sexual abuse TALLINN Although 32 per cent of Estonian children and young people have experienced sexual abuse only a small percentage of them ever turn to Read More Eesti in brief Estonian President Toomas Hendrik Ilves is to become adviser to World Bank President Jim Yong Kim the daily Eesti Paevaleht reports Read More Previous 3 4 5 6 7 8 9 10 11 12 Next Subscribe Advertise Log In Please enter your username and password Forgot your password Login Subscribe A subscription to The Baltic Times is a cost effective way of staying in touch with the latest Baltic news and views enabling you full access from anywhere with an Internet connection Subscribe Now About The Baltic Times The Baltic Times is an independent monthly newspaper that covers

    Original URL path: http://www.baltictimes.com/search/jcms/start/20/ (2016-02-13)
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  • News search
    Latvia anti refugee protestors attack journalist RIGA A tailor and clothing designer a hotel manager a nurse and a hairdresser are the first refugees to arrive in Latvia under the EU rsquo Read More EDITORIAL The Baltic Security Question RIGA Baltic security is back on the agenda For some it never went away But Russia s military involvement in Syria and its ensuing sta Read More Estonian President Ilves on the challenges facing the European Union and the digital revolution Addressing the European Parliament on February 2 2016 Estonian President Toomas Hendrik Ilves issued the following speech surroun Read More World s tallest Scots pine tree found in Estonia The largest Scots pine tree in the world has been found in Estonia Found in the Veriora municipality of the Est Read More Straujuma admits biggest failure was lack of communication over refugees According to departing Latvian Prime Minister Laimdota Straujuma the biggest failure of her government was communication surrounding refugees Read More Lithuanian Foreign Minister slams Ukraine over insufficient anti corruption measures Lithuanian Foreign Minister Linas Linkevicius has blasted Ukraine for insufficient measures against corruption 10 Read More Lithuanian monsignor to interpret at historic meeting between Pope Francis and Patriarch Kirill According to Radio Vatican Lithuanian monsignor Visvaldas Kulbokas will interpret at the historic meeting between Pope Francis and the head of Read More Previous 4 5 6 7 8 9 10 11 12 13 Next Subscribe Advertise Log In Please enter your username and password Forgot your password Login Subscribe A subscription to The Baltic Times is a cost effective way of staying in touch with the latest Baltic news and views enabling you full access from anywhere with an Internet connection Subscribe Now About The Baltic Times The Baltic Times is an independent monthly newspaper that covers latest

    Original URL path: http://www.baltictimes.com/search/jcms/start/30/ (2016-02-13)
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    behind in Read More More refugees could arrive to Latvia within a month The Press Secretary for Latvia s Interior Ministry Ilza Petersone Godmane has confirmed the next wave of refugees may arrive in Latvia w Read More January 91 coup defendants plead not guilty The defendants in the January 13 1991 attempted coup case pleaded not guilty to a Vilnius County court on Monday February 8 2016 13 Read More Roivas only international community can solve Syrian conflict Estonian Prime Minster Taavi Roivas believes current occurrences in Syria affect the security situation in Europe Read More Former school groundskeeper arrested on sexual abuse charges in orphanage Latvian police have detained a former school s groundskeeper in the central Latvian town of Baldone on suspicion of sexually abusing childre Read More Latvian Cyber Defence head hospitalised through alcohol An internal inquiry is under way to establish how Major Gatis Graudins the commander of the cyber defense unit of the Latvian Home Guard ended Read More Report NATO would lose against Russia in invasion of Baltic states According to a recent study by U S think Rand NATO would lose in the event of Russia starting a war in the Baltic states Read More Linkevicius to replace Grybauskaite at London conference Lithuanian Foreign Minister Linas Linkevicius will replace President Dalia Grybauskaite at a conference on humanitarian at to Syria in London Read More Previous 5 6 7 8 9 10 11 12 13 14 Next Subscribe Advertise Log In Please enter your username and password Forgot your password Login Subscribe A subscription to The Baltic Times is a cost effective way of staying in touch with the latest Baltic news and views enabling you full access from anywhere with an Internet connection Subscribe Now About The Baltic Times The Baltic Times

    Original URL path: http://www.baltictimes.com/search/jcms/start/40/ (2016-02-13)
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    on the Challenges and Opportunities for a Secure Baltic Sea Region The following speech was given on January 10 2016 by Raimonds Vejonis on his first official state visit to Sweden as Latvia s president Read More EU Ambassador to Russia calls on investigation into Kadyrov The European Union s Ambassador to Russia Vygaudas Usackas has called on Russia to launch an investigation into Chechen President Ramzan Read More President Vejonis stable but remains in intensive care According to Arnolds Atis Veinbergs the chief physician at Pauls Stradins Clinical University Hospital has confirmed that Latvian President Ra Read More Ukrainian NSDC Secretary Russia waging hybrid warfare on EU According to Oleksandr Turchynov the Secretary of Ukraine s National Security and Defence Council NSDC the Kremlin is waging a war on Read More Ex Labour Party leader acquitted of fraud Monday February 1 saw Lithuania s Court of Appeal acquit the former leader of the country s Labour Party Viktor Upaskich of large Read More Vilnius AK47 fugitive sentenced to over four years imprisonment A Vilnius court has sentenced Igor Molotkov to 4 years and 4 months in prison for fleeing a police car with an AK 47 at the end of November 2015 Read More Lithuanian Health Minister to resign over corruption scandal Lithuanian National Radio LRT confirmed that the country s Health Minister Rimante Salaseviciute has decided to resign 13 Read More Previous 6 7 8 9 10 11 12 13 14 15 Next Subscribe Advertise Log In Please enter your username and password Forgot your password Login Subscribe A subscription to The Baltic Times is a cost effective way of staying in touch with the latest Baltic news and views enabling you full access from anywhere with an Internet connection Subscribe Now About The Baltic Times The Baltic

    Original URL path: http://www.baltictimes.com/search/jcms/start/50/ (2016-02-13)
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    Japanese diplomat served as his cou Read More No hurry at all RIGA On the day that I am writing this commentary it has been 50 days since we have had an actual Cabinet of Ministers here in Latvia Read More The problem with illiberal democracy PRINCETON Poland s turn toward authoritarian rule has set off alarm bells across the European Union and within NATO Since coming to pow Read More The Baltic powder keg The Pacific Pivot has been a catch phrase of the Obama Administration that is intended to signal a refocusing of American military Read More Arts Events guide LATVIA THURSDAY JAN 28 Don Quixote ballet Read More The Capital of Empty Spaces Dealing with the shrinking of the Great Baltic City RIGA It s a dead eyed building the colour of a paving slab set back from the street outside at the end of a pockmarked driveway Loomin Read More Upholding human development in Latvia In cooperation with the American Chamber of Commerce in Latvia AmCham the US Embassy in Latvia and the Civic Alliance of Latvia the Annual Read More Russia s new dissidents find safe haven in Baltics Artemy Troitsky has for 30 years been the international face of Russian rock music Yaroslavl born and Prague bred the son of a true believer Read More Previous 7 8 9 10 11 12 13 14 15 16 Next Subscribe Advertise Log In Please enter your username and password Forgot your password Login Subscribe A subscription to The Baltic Times is a cost effective way of staying in touch with the latest Baltic news and views enabling you full access from anywhere with an Internet connection Subscribe Now About The Baltic Times The Baltic Times is an independent monthly newspaper that covers latest political economic business

    Original URL path: http://www.baltictimes.com/search/jcms/start/60/ (2016-02-13)
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