Publikationen der Stiftung → Estonia, Latvia, Lithuania - labour relations and social dialogue
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  • In 2015 all three Baltic States will be using euro currency: Estonia joined the first, in 2011; Latvia did it on 1st January 2014, while in Lithuania follows a year later, on 1st January 2015 and becomes the 19th member of the euro zone (Lietuvos Bankas, 2014). Latvia will be the presiding country of the Council of the European Union during the first half of 2015.

    At the macro level, all three Baltic States still continued to demonstrate recovery from economic and financial crisis with the GDP growth forecasts for Estonia 1.9%, for Latvia 2.7% and for Lithuania 2.7% in 2014. However, at the second part of 2014 the geopolitical tensions in Russia and Ukraine and subsequent EU sanctions on Russia made a negative impact also on the Baltic states.

    Shadow economy in the Baltic states is estimated around 15%-27% of GDP according to different estimations in 2013-2014.

    According to the UNDP Human development reports in 2014 Estonia remained in the 33th place as it was also a year ago, Latvia was occupying the 48th place, while Lithuania improved from the 44th place in 2013 up to 35 in 2014.

    Trade unions (TU) in the Baltic states still remain generally weak. General perception in the Baltics is the discourse that trade unions are not powerful players. However, in 2014 there were positive trends: for example, in Lithuania the Labour Code and other labour related laws were changed thanks to TU influence.