Dalia Grybauskaitė
Politics

President Grybauskaitė to sign 2016 budget, though reluctantly

Lithuanian President Dalia Grybauskaitė says that she is going to sign the 2016 budget, endorsed by parliament last week, into law, although it has been criticised by the European Commission and the National Audit Office. […]

No Picture
Economy

Concerns about Lithuania’s budget deficit

After the Finance Ministry has submitted proposal for the 2016 state budget, which envisages a slightly bigger fiscal deficit than this year, the National Audit Office says this raises the risk for long-term sustainability of government finance. President Dalia Grybauskaitė warns that Lithuania might exceed the limit provided by the EU’s fiscal compact. […]

Economy

Supervision of Lithuania’s tourism sector insufficient, auditors say

Implementing the Public Audit Programme of 2015, National Audit Office of Lithuania has already conducted one third of the financial (regularity) audits and prepared their reports. The report of the audit of the Ministry of Economy has been presented to the public – how Ministry as well as institutions under the Ministry performed the delegated functions and used the funds allocated for the implementation of various programmes during 2014, the Office reports. […]

Dalia Grybauskaitė
Politics

Lithuanian president delivers State of the Nation address: The world is not a peaceful place

Lithuanian President Dalia Grybauskaitė made her annual State of the Nation address at the Lithuanian parliament, Seimas, on Thursday. In her speech, the president mostly focused on national defence, security challenges stemming from Russia‘s aggressive policies, as well as emigration of working-age population. Grybauskaitė also stressed the need to work more on addressing social issues, particularly in childcare institutions. […]

Dalia Grybauskaitė
Politics

Management of public funds must be transparent, Lithuanian president says

During her meeting with Arūnas Dulkys, the new head of the National Audit Office, Lithuanian President Dalia Grybauskaitė stressed the need to ensure transparency in the use of the state budget funds and the European Union’s (EU) funds, audits of public institutions, assessment of fiscal policy, and control of Lithuania’s budget policy. […]

Tomasz Pilewicz
Opinion

Opinion: Lithuania drives bottom-up transparency approach in the EU

What distinguishes Lithuania on the map of EU member states preparation toward 2014-2020 frameworks is agile and also transparent preparation process. From the governance system point of view it looks similar to other EU countries, as there is a “super ministry” coordinating the EU funds related process in general, and various Management Authorities (ministries, national funds, development agencies), which operate closer to final beneficiaries. […]

No Picture
Economy

Auditors say Lithuania’s 2015 budget bill violates Fiscal Discipline Law

The growth of expenses projected in Lithuania’s 2015 budget bill contravenes the Law on Fiscal Discipline and the expected growth of tax revenue is overly optimistic, the National Audit Office said in conclusions published on Monday. […]