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2017 04 10
Lithuania’s Message to the World at Global Fintech Conference: “Our Goal – Leadership in the Region”

Today the representatives of the global financial sector, Fintech service providers, representatives of banks, risk and investment funds are gathering to probably the most important and prestigious event of the year – “Innovate Finance Global Summit”. There, Finance Minister of the Republic of Lithuania Vilius...

2017 04 03
The Government Receives Proposals for Developing Fintech

The Ministry of Finance submitted the proposals for the further development of financial technology (fintech) industry in Lithuania to the Government on Monday. The proposals have been prepared by the Inter-institutional Working Group on Fintech Development, which included both state institutions and business community. “We see larger contributions of the Lithuanian...

2017 03 21
Macroeconomic Projections – Wages Will Grow, Unemployment Will Fall

The Ministry of Finance has updated projections of basic macroeconomic indicators for 2017-2020 – economy will grow at a moderate pace as a result of a substantial contribution of the domestic demand and exports, while wage growth will surpass inflation. “For further successful growth of the economy, we must certainly implement the structural reforms. First,...

2017 02 10
Additional Measures for Fintech Development in Lithuania

The representatives from the Ministry of Finance, Bank of Lithuania and other public authorities discussed further measures to foster the development of the financial technology (Fintech) industry in Lithuania. The proposals will shortly be forwarded to the Government. “Lithuania has the potential to be a leading Fintech player in the region. After considering the comments...

2017 01 24
Vilius Šapoka: Proper Implementation of Structural Reforms is Important

On 17 January the European Commission delivered the opinion on the updated budgetary plan of Lithuania for 2017. The European Commission in its opinion states that after application of the social model clause, Lithuania would substantially meet the requirements of the Stability and Growth Pact. “The viewpoint of the European Commission and the Ministry of...

2016 12 22
Vice-Ministers of Finance – Long-Serving Staff Members of the Ministry

By Minister of Finance Vilius Šapoka Order, on this date three new Vice-Ministers – Daiva Brasiūnaitė, Loreta Maskaliovienė and Darius Sadeckas – start their work. All of them are the long-serving staff members of the Ministry of Finance. “They are people whom I confident to call experienced specialists, I have no doubts over their competence not only in...

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2016 11 21
Final Budget Assessment – After the New Government Decisions

The European Commission (EC) has announced its opinion on the euro area Member States’, among others also Lithuania’s, Draft Budgetary Plans for 2017. It was stressed that Lithuania’s public finances are on the right path; however, the Commission noted also a certain risk concerning compliance of the budget for 2017 with the requirements under the Stability and Growth...

2016 10 26
FinTech Industry in Lithuania – more possibilities to remote identity verification

The Government has approved a new regulation that will better enable  financial institutions and other organisations to identify customers in a non-physical manner (i.e. not face to face identification). It is expected that this will enhance the development of the financial technology industry (FinTech) and result in more investment in...

2016 10 26
The European Commission Reminds Lithuania That It Will Have to Repeatedly Submit the Draft Budgetary Plan 2017

After the formation of a new Government Lithuania will have to repeatedly submit the Draft Budget for 2017 to the European Commission – as provided for in the procedural documents. This is emphasized in the European Commission letter of 25 October 2016 sent to Lithuania. The Ministry of Finance notes that...

2016 10 05
Lithuania to generate up to EUR 500 million for energy efficiency with EIB

European Investment Bank (EIB) to attract private finance into residential energy efficiency modernisation via a guarantee scheme funded by the Lithuanian Government. The Lithuanian Leveraged Fund, a guarantee scheme funded with EUR 100 million of EU Structural and Investment Funds and national resources, comes in support of energy efficiency...

2016 09 20
Upcoming conference to boost Lithuania’s growing global FinTech profile

According to finance experts, Lithuania has the attributes to become a new hub for investments from financial technology ( FinTech ) companies, due to its excellent communications and information infrastructure, as well as specialists with novel ideas. On 6 October 2016 the Ministry of Finance, the Bank of Lithuania and the City of London Corporation are...

2016 09 15
Lithuania has borrowed EUR 450 million in foreign markets

Lithuania has successfully priced an offering of EUR 450 million (nominal value) that will be consolidated and form a single series with the EUR 750 million Eurobond due 2035. „The decision was driven by positive sentiment in the financial markets and our aim to fix into the low interest rate. This re-opening of our longest eurobond increases liquidity of the bond,...

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