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Lithuanian government approves €2.5bn business relief plan
The Lithuanian government has endorsed a 2.5-billion-euro economic stimulus plan to mitigate the effects of the coronavirus epidemic. The measures include subsidies to preserve jobs and tax delays.
Lithuanian government pledges tax breaks and economic stimulus package in wake of coronavirus quarantine
The Lithuanian government has vowed to enact an economic stimulus and business assistance plan on Monday as the country goes into quarantine over the coronavirus.
Lithuania's economy may shrink 1.2 percent due to coronavirus – central bank
Lithuania’s economy may shrink at least 1.2 percent this year due to the coronavirus, economists from the country’s central bank estimate. This would be an “optimistic” scenario, according to the bank’s chairman Vitas Vasiliauskas.
Food price controls an option, though shortages unlikely – Lithuanian PM
The government may introduce price controls, if food prices rise during the coronavirus quarantine, but so far it does not seem likely, Lithuania’s Prime Minister Saulius Skvernelis said after meeting with retailers.
Experts advise how to take advantage of the crisis and to develop businesses in cyberspace
Although e-commerce is growing very fast in the world and in 2019 alone consumers spent nearly 3.5 trillion US dollars on it, preference is still given to traditional trade, especially in Europe. However, these tendencies are strongly shaken by the coronavirus – normal business models are no longer effective, traditional business comes to a standstill, and only those who manage to quickly rearrange processes and exploit alternative channels survive. Experts say that we have all the conditions necessary for these changes, it is important to act now and to take competitive positions in the market.
