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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

The Government approved Lithuania’s Plan for the DNA of the Future Economy prepared by the Ministry of Finance which will create conditions for a qualitative transformation of Lithuania’s economy, balanced development and development of innovative, high value-added business. Following the public debate, the plan for long-term investment to stimulate the economy ...

When talking about Lithuania’s economy in general, I would like to stress that in terms of gross domestic product (GDP) per capita, if we look back over the last ten years Lithuania is the fastest-growing country in the whole Organisation for Economic Co-operation and Development region. I am very proud of this and, of course, this incredible achievement is embedded in fiscal ...

Digitisation and reorientation of industry, attraction of new investment, retraining of the employed in high value-added areas, biotechnology, medical services, deployment of renewable energy sources. These are just a few of the long-term investment proposed by the Ministry of Finance to help the national economy recover after the pandemic and to change it ...