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2021 04 06
PayRay Bank gets EU-backing to expand access to finance for Lithuanian SMEs

In order to support small and medium sized businesses in Lithuania, who are under strain from the COVID-pandemic, Lithuanian financial intermediary PayRay Bank has signed two guarantee agreements with the European Investment Fund. The two guarantees are made available under the European Guarantee Fund, an initiative of the EIB Group and EU Members ...

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2021 03 31
The Ministry of Finance: “Economic Recovery is Strongly Linked to the Further Development of the Pandemic”

The basis for economic recovery is further containment of the pandemic and massive vaccination of the population – it is foreseen in the updated spring economic development scenario for 2021-2024 prepared by macroeconomic experts of the Ministry of Finance. “The acceleration of the public vaccination ...

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2021 02 21
Rating Agency Moody’s Shows Confidence in the New Government – After Six Years It Upgrades Lithuania’s Long-Term Credit Rating, While Standard & Poor’s − Affirms the Tenable A+

The international credit rating agency Moody’s Investment Service has upgraded Lithuania’s A3 (positive outlook) long-term borrowing rating to A2 (stable outlook) in 2015. Another credit rating agency S&P ...

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2021 01 21
The European Commission Publishes the Assessment of the Updated 2021 Lithuanian Draft Budgetary Plan

Today the European Commission (EC) published the assessment of the 2021 Lithuanian Draft Budgetary Plan updated by the XVIII Government stating that Lithuania takes proper fiscal measures in response to an adverse COVID-19 pandemic impact on the national economy, people and health system, and the fiscal policy pursued ...

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2021 01 19
The Ministry of Finance Calls the Public to Mobilise for a Tax Relief Review

The Ministry of Finance, considering the provisions of the XVIII Government Programme related to more equitable and growth friendly tax system, calls the public to mobilise and by 10 February to submit specific proposals for a tax relief review. At the same time, the Ministry sets up a special expert group to discuss about expedience and impact of ...

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2021 01 18
Renovation Wave: Innovative Investment Platform is Set Up to Increase Energy Efficiency of Multi-Apartment Buildings in Lithuania

The Ministry of Finance and the Ministry of Environment and the European Investment Bank (EIB) together invest the European Union (EU) assistance to a newly developed Investment Platform to increase financing volumes for renovation of multi-apartment buildings in Lithuania and to ...

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2021 01 18
At the Euro Group and ECOFIN Summits – the Issues of the EU Economic Recovery and Non-Performing Loans

At video conference summits of the Euro Group (EG) and ECOFIN to be held on 18-19 January with participation of the Minister of Finance Gintarė Skaistė the main focus will be on the implementation of the Recovery and Resilience Facility and the issues of reduction of non-performing loans. “At the Euro Group ...

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2020 12 31
The Seimas Adopted the Budget for 2021

The Seimas adopted the budget for 2021, which focuses on containing the effects of coronavirus. ”The budget for 2021 adopted by the Seimas today is not traditional. We could normally talk about revenue, expenditure and deficit lines, try to rationalise some or other figures, argue about ambition and opportunities. This time, however, we are forced to forget this and to talk about much more ...

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2020 12 31
Presentation of the new team of Minister of Finance G. Skaistė

Vice-Ministers Rūta Bilkštytė and Vaida Česnulevičiūtė start their duties at the Ministry of Finance, as of January 1 – Vice Ministers Mindaugas Liutvinskas and Gediminas Norkūnas. I am proud to be able to present the experts in my field who join the Ministry of Finance. I have no doubt that the wide range of competences of this team will contribute to the efficient ...

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2020 07 31
„Fitch Ratings“ confirm: Lithuania retains the same high credit rating with a stable outlook

While a lot of countries got downgraded in the face of the pandemic, international ratings agency Fitch Ratings affirmed Lithuania’s long term debt rating at 'A' with a stable outlook which were assigned in January 2020. ‘This is another confirmation that in the international forum Lithuania is considered as a reliable ...

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2020 07 21
0.5% for 30 years – Lithuania borrows in the international markets at record low rate

Today, Lithuania borrowed EUR 1.75 bn in the international capital markets by issuing a 30-year Eurobond. The annual coupon is the lowest ever – it is more than three times smaller if compared to previous Eurobonds of the same maturity. ‘I am glad that not only we have reached an agreement among the EU member states that will allow ...

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2020 07 09
NIB’s updated Statutes enter into force on 29 July

The Nordic and Baltic owner countries of the Nordic Investment Bank (NIB) have approved amendments to update the Bank’s Statutes to ensure continued adherence with sound banking principles. The changes will enter into force on 29 July 2020. The banking industry has undergone significant changes since the last financial crisis in terms of capital and risk management and regulatory ...

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