In Latvia, the average remuneration has risen by 8.3% YoY, but this rate is insufficient to offset the price surge (+16.4%). Free-market allocation is much needed.
Energy independence, the fight against the shadow economy, digitization, stability and rule-of-law are essential for Latvia’s competitiveness and FDI attraction.
In Estonia, the consumer basket price was 24.8% higher YoY. Orders have declined, making harder to pass the higher costs to the final products. Competitiveness is at stake.
The OTK Global Service Centre in Lithuania is responsible for nearly 40 functions, including cyber security, IT systems, and over €1.3B in procurement.
Despite a slight increase in interest rates, the amount granted by credit institutions to Lithuanian residents increased by €306.0 million.
Latvia ranks 5th among EU members in VHCN. Last year important investment has been made in fibre optic communication innovation.
Polish industrial production grew by 7.6% YoY, thus decelerating rapidly in recent months. The economy and the labor market must adjust to a new energy shock.
Even in uncertain times, Estonia’s FDI inflow as a percentage of the GDP is the 4th-largest in Europe, thanks to the business legislation and government’s efficiency.
The growth in the deficit was due to the payment of dividends, while the increase in the foreign trade deficit resulted from a decline in exports.
In Latvia, the State programme for house purchase provides a boost to the price increase, lowering the effectiveness of the macroprudential policy.