Economy
Ministry of Finance
Economy
Lithuania revises economic growth projections
After evaluating Lithuania’s economic situation and the impact of external factors on its economic growth tendencies, the Ministry of Finance has revised main macroeconomic projections for 2015-2017 and prepared projections for 2018. […]
Economy
Lithuanian government sets up EUR 80m energy efficiency fund
The Lithuanian government on Wednesday established an energy efficiency fund with 80 million euros earmarked for renovation of public buildings and street lighting. […]
Energy
Lithuanian government proposes to merge natural gas exchanges
At the meeting of the Government it has been proposed to create a single natural gas market. A working group initiated by the Ministry of Energy has proposed to merge energy resource exchange UAB Baltpool and natural gas exchange UAB GET Baltic. […]
European Union
Lithuania joins European Stability Mechanism
On 3 February, Lithuania became the 19th member of the European Stability Mechanism (ESM). Lithuania has ratified the ESM Treaty and now acquires the full rights and obligations of ESM membership. […]
Politics
Lithuanian president proposes bill to prevent exploitation of EU funds by public servants
Amendments to the Law on Public Service have been submitted to the Seimas (parliament) on the initiative of President Dalia Grybauskaitė. The amendments seek to prevent public servants from signing additional work contracts with their own employers, to prevent them from cashing-in on public service and to ensure transparent use of state funds. […]
Economy
Lithuanian government debt at 39.7 percent of GDP
According to the Ministry of Finance of Lithuania, the central government’s debt in November stood at 39.7 percent of Lithuania’s total projected gross domestic product (GDP) of 2014, LTL 49.673 billion (EUR 14.39 billion). […]
Economy
Lithuanian government will not decide on raising minimum wage before May
Lithuania’s Minister of Finance Rimantas Šadžius says that if the economy and wages grow, then raising the minimum monthly salary to EUR 325 from 1 July will not have a negative effect on public finances. […]
Politics
Lithuanian parliament passes 2015 budget second time
The Lithuanian parliament passed the state’s budget for 2015 for the second time on Thursday, with 79 votes in favour, 14 votes against and 34 abstentions. […]
Economy
Low inflation in Lithuania particularly favourable to euro adoption, economists say
Current average annual inflation in Lithuania is at its lowest since 2010, according to financial experts, a situation that is particularly favourable to the currency changeover. […]
Economy
The Economist forecasts lower GDP growth for Lithuania than government estimates
Next year Lithuania’s economy should grow 2.7 percent, a lower indicator than projected by the Finance Ministry but more than the majority of other European countries, says the Economist Intelligence Unit of the British business daily, The Economist. […]
Economy
Lithuanian milk producers to receive state aid in early December
The National Paying Agency (NMA) under the Ministry of Agriculture is going to distribute transitional national aid to diary producers on 1-2 December. […]
Economy
Lithuanian ruling parties agree on EUR 325 minimum monthly salary in 2015
The parliamentary groups of the Order and Justice party, the Social Democrats and the Labour Party have agreed that the minimum monthly salary should be raised to EUR 325 (LTL 1,122) in 2015. […]
Economy
Finance minister presents national budget proposal to Lithuanian parliament
Lithuania’s 2015 budget bill will be adjusted if there is reason to believe that the growth of the country’s economy is slightly lower than the currently forecasts, the finance minister has said. […]
Politics
Lithuanian PM disappointed with coalition for refusing to lift tax exemptions on heating
Lithuanian Prime Minister Algirdas Butkevičius says that the ruling coalition has left room for populism in the future when it rejected proposals to lift VAT exemption on heating. He says that the coalition should deliberate whether it has enough political will to admit that the VAT exemption should be left in place for an indefinite period. […]
Economy
Lithuania collects more budget revenue than projected
Based on preliminary assessment by the Ministry of Finance, revenue collections over the first nine months of 2014 surpassed expectations by 0.8 percent. […]
Economy
Lithuania’s budget may be balanced in 2017 at earliest
Lithuania’s national budget will most likely be balanced in 2017 instead of 2016, as expected before, Finance Minister Rimantas Šadžius says. […]
Economy
Analysts say Lithuania’s 2015 budget proposal too optimistic
Excessively optimist forecasts and no instruments for boosting the domestic market in the 2015 Lithuanian budget proposal may lead to economic problems, says Gitanas Nausėda, adviser to the SEB bank president. […]
Economy
Lithuania’s Finance Ministry suggests scrapping VAT exemptions for heating in 2015 budget proposal
The Lithuanian Ministry of Finance proposes to scrap a VAT exemptions for district heating, saying that a draft state budget for 2015 earmarks sufficient funds to compensate low-income families for increased heating bills. […]
Economy
Lithuania to organize seminars on euro adoption
On 8 September, a cycle of seminars on the adoption of the euro, which will encompass at least 70 information events scheduled in all 60 municipalities of Lithuania within three months, is going to be launched in Šiauliai, euro.lt informs. […]