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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...

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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...

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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...

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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...

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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...

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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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2016 07 13
Lithuanian Institutions Enhance Focus on New Financial Technologies and Fintech Sector Development in Lithuania

The globally accelerated development of financial technologies (Fintech) predetermines the need for a more efficient use of Lithuania’s potential available in this sector. Upon the request of the Government, the Ministry of Finance in cooperation with the Bank of Lithuania and other institutions concerned...

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2016 07 07
Disbursements for Projects from the EU Funds Outreached EUR 0.5 Billion

According to the data by the Ministry of Finance, at the end of June more than half a billion euros – EUR 556.2 million, of which EUR 536.8 million – EU funds, and EUR 19.4 million – co-financing rate – were disbursed for the projects implemented under the 2014–2020 EU Funds’ Operational Programme. “The pace of EU Funds investment is not disappointing; we...

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2016 07 01
At End-May Central Government Debt Accounted for 38.6% of the Projected GDP for the Current Year

According to the data by the Ministry of Finance, at the end of May of the current year central government debt was EUR 14.877 billion or 38.6% of the projected GDP for 2016 (EUR 38.528 billion). At the end of May central government foreign debt made up 75.3% of total central government debt: central government was indebted...

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2016 07 01
Five-Month Central Government Deficit is Lower than at the Same Time Last Year

According to the data by the Ministry of Finance, in 2016 the five-month central government deficit amounted to EUR 13.5 million or 0.04% of the projected GDP for 2016 and was by EUR 263.3 million or by 0.7 percentage point lower than the one in the same period of 2015. The five-month central government revenue totalled EUR 4.311 billion,...

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2016 05 09
4th International Financial Markets Conference Is Held in Vilnius

The Ministry of Finance together with the Lithuanian Financial Markets Institute organises the International Financial Markets Conference to be held on May 10 in Vilnius, where the leaders of politics, business and academic community of the nine European countries will discuss global financial market trends, perspectives and the investment strategy changes. The...

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