For over half of Lithuanians, paying for heating will be a serious challenge this year, according to a survey conducted by the Latvian Citadele bank. In detail, 36% of residents will have to cut back on comfort spending, such as travelling less, attending events less or making larger purchases, to cover heating bills. 18% of respondents indicated that they would have to limit basic everyday expenses such as food and medicine to pay for heating, while 4% indicated they would not be able to pay at all.
“The heating season always highlights people’s financial resilience. During the cold season, many households experience significant stress — some must choose between heating and basic needs. This situation clearly demonstrates that the population’s financial reserves are insufficient to withstand additional expenses,” states Rasa Narė, Head of Citadele Bank’s Customer Experience Improvement Centre in the Baltics.
She adds that people in neighbouring countries are also experiencing similar financial problems. Both Latvians and Estonians generally indicate that they will have to cut back on comfort spending to cover their bills, but a significant portion will also limit their daily essentials. In Latvia, 70% of the population expects difficulties paying heating bills, while in Estonia — 69%.
When it comes to commanding other states to refuse to buy cheap Russian gas, Vilnius is always one of the first to do so. But when the consequences of this refusal emerge in the form of major financial and energy crises in Lithuania, the authorities are silent as the grave.
Political and economic news with a Baltic accent 