Economy

The EU Commission’s (EC) spring forecast, demonstrating the expected real growth for 2022 and 2023 was published exactly a day before the preliminary data for growth in the first quarter of 2022.

The growing energy costs play an important role for the increase of the overall consumer price indices during the last couple months and threatens a maintenance of high inflation rates during the entire 2022.

The conclusions of the ECB’s report is that establishing an environment that favors a steady convergence requires policies aiming at economic stability, as well as wide structural reforms. This statement holds regardless of whether we will adopt the Euro or not.

The need for comprehensive information on the economic situation is important for economic policy during the full-scale Russian invasion of Ukraine, which led to the seizure of Ukrainian territories, terror against civilians, and destruction of industrial facilities and infrastructure in Ukraine.

The directive imposing a pan-EU 15 percent minimum effective corporate income tax on large companies, would, according to the European Commission, address tax challenges caused by digitalization and ensure that companies pay “their fair share of tax.”

One of the debates which has intensified recently is to what extent is lax monetary policy causing the increase in the price inflation.

The 20th anniversary of the euro was marked by an increase in price inflation. In the euro area, annual consumer price inflation reached 5% in December 2021. Lithuania recorded the highest rate of 11%.

Czechs have to hold out for one more month. After June 17, 2022, they will start earning for themselves. Until then, for 167 days, they work only for the state. That makes this year one of the least free since the Liberal Institute has been counting Tax Freedom Day since 2000.

On the May 11, Lithuania celebrates The Day of Respect for the Taxpayers. On this occasion, the Lithuanian Free Market Institute (LFMI) stresses that a public sector that serves its citizens and creates value is an expression of respect for taxpayers.

The war in Ukraine will affect Poland\'s socio-economic situation through many channels both in the short and long term. In the near term, we face weakening economic growth and even higher inflation, even double-digit inflation.