The Bank of Lithuania has drafted a list of private banking services that it proposes should be made more accessible. If the proposal is endorsed by parliament, commercial banks will have to provide basic services like debit card administration, cash withdrawals and money transfers in the EEA to their clients at a fixed charge. […]
The European Commission published its assessment of budgetary plans submitted to it by eurozone countries. Commenting on Lithuania’s 2016 national budget draft, the EC says it strays too much from fiscal discipline targets and that Lithuania might fail to keep structural deficit below 1 percent of GDP. Lithuania’s prime minister has responded that the government is not planning to revise the budget. […]
The National Audit Office of Lithuania has issued a warning that the draft state budget for 2016 is on the verge of breaching fiscal rules and that Lithuania is not ready to counter financial shocks. Prime Minister Algirdas Butkevičius has dismissed the criticism and said that budget revenue figures improved due to better tax administration. […]
The National Audit Office criticised Lithuania’s national budget for 2016, saying it was based on excessively optimistic tax collection expectations. Minister of Finance Rimantas Šadžius has dismissed the remarks. […]
Last week, the Lithuanian government published a report on efforts to fight the black market. The government says inspectors have uncovered transactions worth over half a billion euro. Unfortunately, there are still areas relatively immune to anti-black-market efforts, the chief among them being illegal letting of apartments. […]
One of the largest independent suppliers of electricity in Lithuania, Inter RAO Lietuva Group has published its results for the nine month period which ended on 30 September, 2015. […]
The Court of Justice of the European Union (EU) has issued a ruling in a case regarding the reduction of direct payments to Lithuanian farmers for the year 2012. […]
On 11 November, Lithuanian Ambassador in Sweden Eitvydas Bajarūnas and Commerce Attaché Audrius Masiulionis visited Jönköping city, situated in the south of Sweden, where they discussed economic cooperation with representatives of the local business community, visited Husqvarna factory and the annual exhibition ELMIA Subcontractor. […]
Lithuanians are increasingly satisfied with their wages, although over the past several years average pay only rose by a little more than 50 euro is now about 550. Still, levels of satisfaction with wages in Lithuania are almost the same as in Estonia with the average monthly salary of 900 euro. […]
The government-run company Būsto Paskolų Draudimas, or Housing Loan Insurance, will search for people who have defaulted on their loans and emigrated to the United Kingdom. […]
According to the assessment of commercial banks, the financial status of residents and of the majority of the economic activities is improving – the survey of banks, initiated by the Bank of Lithuania, reveals that banks plan to increase loan portfolios moderately, the country’s central bank reports. […]
The Lithuanian parliament seeks to prohibit shopping centres to work on Easter, Christmas, January 1 and other bank holidays, in all 15 days a year. […]
The Lithuanian parliament will discuss a proposal of Deputy Parliament Speaker Algirdas Sysas, a social democrat, that employers who pay their employees below minimum wage be made to pay higher contributions to the Sodra, the social insurance system. […]
While average pay in Lithuania has been growing uninterruptedly for some years now, part of the population still have not felt much improvement in their financial lot. […]
Danish economist Morten Hansen and Romas Lazutka, professor at Vilnius University, argue that Lithuania‘s economy has caught caught up with those of Greece and Portugal. The two scholars and Žilvinas Šilėnas, the president of the Lithuanian Free Market Institute, provide different explanations why. […]
On 1 December 2015, Lithuanian Confederation of Industrialists (LPK) is organizing its Annual Economic. Experts and representatives from leading global competitors, like Switzerland, Germany, USA and business leaders from other countries, shall discuss on global and European issues, including progress and issues of competitiveness in Lithuania, the Lithuanian Confederation of Industrialists said. […]
A gap between housing prices in Vilnius and other towns in Lithuania is growing. While apartments in Vilnius are becoming more expensive, apartment prices in Kaunas, Šiauliai and Panevėžys are stable or even dropping. […]
Flourishing black market in Lithuania can be reduced with properly chosen and implemented digital solutions, experts claim. […]
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