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2023 03 23
Minister of Finance G. Skaistė: "In the Face of Increased Risks, the ESM Plays an Important Role in Ensuring the Stability of the Euro Area"

Today, in Vilnius, Minister of Finance Gintarė Skaistė had a meeting with the new Executive Director of the European Stability Mechanism (ESM) Pierre Gramegna. During the meeting, the ESM reform was discussed, as well as the role of the ESM financial instruments in ...

2023 03 21
Minister of Finance: "The Highlights of the Package of Tax Proposals Are Convenience, Economic Growth and Fairness"

Today, the Ministry of Finance presented a package of tax proposals centred on convenience, economic growth and fairness. The presented package of tax proposals, according to Minister of Finance Gintarė Skaistė, aims to create incentives for more convenient tax payment, as well as to encourage ...

2023 03 21
Ministry of Finance: Economy Remains Resilient, Inflation Will Slow Down This Year Faster Than Projected

Lithuania’s economy continues to demonstrate resilience in the face of challenges. The updated economic development scenario of the Ministry of Finance foresees that economic growth of the country will remain positive this year and will reach 0.5 %. In 2023, the average annual inflation is expected to be lower than ...

2023 03 16
The Government Approved the 2024 State Budget Preparation Plan

On Wednesday, the Government approved the plan for the preparation of draft financial indicators for the 2024 State budget and municipal budgets. It provides for that this year, the institutions will be consulted earlier on the needs for the functions and activities carried out, thus giving them clarity on financing. Meanwhile, the negotiations on the financing of ...

2023 03 13
Vice-Minister of Finance M. Liutvinskas: "EU Fiscal Rules Will Be Revised Taking Into Account the Emerging Challenges"

On 13-14 March, Vice-Minister of Finance Mindaugas Liutvinskas will participate in the meetings of the Eurogroup (EG) and ECOFIN in Brussels, where the greatest attention will be paid to the revision of the EU fiscal rules. The economic and financial impact of Russia's war against Ukraine will be ...

2023 03 10
For National Defence – Temporary Solidarity Contribution by Banks

The Ministry of Finance and the Bank of Lithuania prepared the draft law aimed to channel part of unexpected banks’ profits to finance military mobility and military transport infrastructure projects. The  initiative proposes to set impermanently the rate of 60 % for the temporary solidarity contribution on net interest income of banks and credit institutions, ...

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2023 03 08
International Recognition for the Communication Campaign of the Ministry of Finance "Do You See How the World Is Changing?"

The European Union (EU) investment communication campaign "Essential Changes" initiated by the Ministry of Finance reached the finals in the category of influencer/opinion leader campaigns, in the international Baltic communication competition "Mi:t&links. Baltic Communication Awards 2023". ...

2023 03 01
Defence Spending to the Ministry of National Defence Is Increased by EUR 97.5 Million

After the Ministry of Finance updated the GDP forecast, the defence spending for 2023 is increased by EUR 97.5 million. This should ensure that up to 2.52 % of the gross domestic product (GDP) is allocated to fulfilling Lithuania's obligations related to NATO membership. "Strengthening national defence is a priority of this Government; ...

2023 02 28
Plan "New Generation Lithuania": Over Half a Billion Euros Allocated to Lithuania for the Results Achieved

The European Commission (EC) submitted an assessment of the first payment request under the plan “New Generation Lithuania”. Indicator 31 consisting of planned reforms and investments was approved. Lithuania will receive over half a billion euros in subsidies for these achievements. "We have received the official ...

2023 02 28
For Strengthening of Lithuania's Energy Independence – Additional EUR 194 Million from the EU Budget

Today, the Council of the European Union and the Parliament officially approved the "REPowerEU" regulation, according to which Lithuania is provided with a new EUR 194 million grant aimed at strengthening the resilience, security and sustainability of the energy system. The "REPowerEU" initiative presented by the ...

2023 02 15
EUR 1 Billion Loan by the European Investment Bank for Implementation of EU Investment Projects in Lithuania

Today, the Board of Directors of the European Investment Bank (EIB) approved a EUR 1 billion loan to Lithuania. The loan is to ensure co-financing of projects financed under the Programme for the European Union (EU) Funds’ Investments 2021-2027. "The loan by the European Investment Bank is an important step in ...

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