“Looking at the changing international environment, we see that global economy is not longer growing the way it has so far, and we need to focus on fiscal discipline. We will have 1.5 billion euros accumulated by the end of next year. (…). We are ready for any scenario,” the minister told a press conference on Tuesday.
The state reserve will stand at around 1 billion euros late this year, and Šapoka said last week this financial reserve would grow further.
According to the latest estimates from the Finance Ministry, Lithuanian economy is expected to grow 2.8 percent next year, compared to 3.4 percent this year.
The International Monetary Fund warned last week that risks to the global financial system had increased slightly due to difficulties in certain developing markets and the ongoing trade tensions.