Gross GDP increased in all Lithuanian counties during last year

Statistics Lithuania reports that, based on non-final data, in 2011 gross domestic product (GDP) increased in all counties. The contribution of the regions to the country’s GDP was very different.

Lithuania’s government approves the creation of a new Public Investment Development Agency

The Lithuanian government approved a proposal to establish a Public Investment Development Agency. This agency would handle and manage all former functions done by the JESSICA fund. The JESSICA fund controls all resources earmarked for the renovation of the multi-family buildings, from the European Investment Bank (EIB).

Lithuanian meat industry: Local pigs are not enough

A Lithuanian can hardly imagine his or her daily meal without a pork stake or a chicken wing. If experts be trusted, it can soon change. According to scientist of Stockholm International Water Institute, meat might well become a luxury product by 2050.

Americans and Poles are to explore Lithuanian gas reserves

Polish oil company LOTOS Group together with American CalEnergy Resources Ltd are working towards establishing a joint company for shale gas extraction in Lithuania, reported delfi.lt, referring to an article by onet.pl, based on Interfax Global Energy Services’ information.

Cumulative foreign investment totaled 38.6 billion

In financial news, the Bank of Lithuania revealed its latest economic figures for foreign direct investment (FDI) to the nation. Cumulative foreign investment totaled 38.6 billion litas (EUR 11.2 b) at the end of June, approximately 12,112 litas per capita. This represents a 0.1% GDP for period examined (58.5 million litas) in net FDI outflow.

SOE profits up 350% in 2011

The results of state-owned enterprises (SOEs) keep improving and the net profit of SOEs (including special taxes to the State) was LTL 246.6 million in 2011, which was 3.5 times more than the previous year (this sum excludes losses of LTL182 million due to the bankruptcy of the Bankas Snoras).

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