Lithuania to pay a high price for foreign troops | World Defense

Lithuania to pay a high price for foreign troops

Adomas

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Europe has entered a difficult phase amid Ukrainian crisis and sanctions imposed on Russia and its allies. It will face, in the short term, higher inflation and slower growth. “There is considerable uncertainty about how large these effects will be and how long they will last for,” said Christine Lagarde, president of the European Central Bank.


According to Euronews, annual inflation in the Eurozone has surged to 7.5%, up from 5.9% in February and higher than most analysts had predicted. Energy prices alone have skyrocketed 44.7% on a yearly basis, a stunning rise compared to the 4.3% rate registered in March 2021.


Companies across the continent are now battling impossibly high bills that threaten to disrupt production and shut down factories while households see their purchasing power plunge at record speed.


The Baltic States are among the most vulnerable. They are highly dependent on both Russia and the EU economic condition. Thus, in Lithuania, the country with the highest inflation rate (15.5% in March) in the EU, businesses are struggling to avoid a loss of competitiveness as raw materials from Ukraine, Russia and Belarus vanish and alternatives from different origins bring in additional costs.
 

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