The Baltics Today

Lithuania's parliament approved the 2010 budget for Sodra, the country's social insurance fund, on Thursday.The new

Latvia's prime minister reports thatLatvia will be responsible for one of the most significantforeign policy areas of the European Union – development cooperation. In a press release issuedfrom the office of the prime minister, the new composition of the European Commission provid...

Statistics Lithuania, based on the latest available information for September and more comprehensive business and price statistics, has estimated GDP components for III quarter 2009 by production, expenditure and income approaches and revised the first GDP estimate. According to the revised data, in III quarter 2009, GDP at current prices amounted to LTL 23 954 million and, against the respective period in 2008, dropped by 14.2%, while against II quarter 2009 it grew by 13.1% (the changes have been estimated using a chain-linked volumes). (The previously published first GDP estimate for III quarter 2009 amounted to LTL 23 713 million and, against July–September 2008, dropped by 14.3%, while against the previous period in 2009 it grew by 13%). Over the nine months of 2009, GDP amounted to LTL 68.71 billion, which is by 15.7% less than a year ago.

The financial results of joint stock company (JSC) Ventspils nafta for the nine month period in 2009 have been impacted by the operating results of the Group companies, all of which have been operating in markets affected by the global economic crisis and international competition. In spite of these external factors, the consolidated net turnover of JSC Ventspils nafta Group was LVL 53.4 million for the period January-September, 2009, but net profit was LVL 0.7 million, reported BC Gundega Vārpa, JSC Ventspils nafta Public Relations and Advertising Manager.