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FT Group Magazine The Banker Announced G. Skaistė to be the Winner of the 2022 Global Finance Minister of the Year

Date

2022 01 05

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The Magazine The Banker, a member of the Financial Times publication group, announced Minister of Finance Gintarė Skaistė to be the winner of the  Finance Minister of the Year in global and European context.

Each year, the Magazine compiles the list of the best finance ministers of the year, celebrates the officials that have best managed to stimulate growth and stabilise their economy. The first few months in position of G. Skaistė titled as the 2022 Global Finance Minister of the Year were called by the Magazine as a baptism of fire.

“The new government — a tripartite coalition of the Homeland Union-Lithuanian Christian Democrats, the Liberal Movement and the Freedom Party — took office in mid-December 2020 and the finance ministry had quickly to prepare the state budget for 2021, ensuring adequate support for the economy and the society in the face of the on-going COVID-19 pandemic, writes The Banker. — At the same time, it also had to develop the government’s programme, New Generation Lithuania of EUR 2.225 billion to ensure the country’s transition being a more equitable, smarter and high added- value generating country“.

The publication quotes the major achievement of G. Skaistė, the winner of the title of the 2022 Global Finance Minister of the Year,  — the plan New Generation Lithuania prepared in record time, which will play a crucial role in Lithuania’s rise from the COVID-19 pandemic with a stronger economy, with a long-term positive impact, accelerating the digital and green transformation — two cornerstones of the plan, which together are allocated almost 68 % of appropriations.

According to the Minister, the country’s economy has weathered pandemic shocks due to societal adaptation to changed pandemic conditions, and business has demonstrated a dynamic transition to the digital environment − one of the reasons that allowed the economy to cope well with the shock.

“In 2021, Minister Skaistė developed tax aid measures to help the most affected sectors by means of tax refunds and deferrals, as well as relevant sectoral incentives that provided the necessary support to businesses and led to transparent tax payments,” writes the publication.

According to The Banker, Minister G. Skaistė, who started vigorously, did not slow down the pace throughout 2021. The most significant initiatives launched are such as the establishment of a group of market participants and representatives of the public sector to prepare the guidelines for the development of the Lithuanian Fintech sector in 2022-2027; ambition for Lithuania to become the European Centre of Excellence against Money Laundering; a EUR 750 million 30-year Eurobond issue issued in July which was opened to local investors in September; the Baltic Capital Markets Accelerator Fund developed together with Latvia and Estonia in order to create a single Baltic capital market, the aim of which is to make the states more visible to foreign investors and to increase access to wider financing opportunities for small and medium-sized enterprises (SMEs).

You can read more about the publication of the magazine The Banker here.

The Banker is a monthly magazine specialising in international finance, owned by the Financial Times group and published in English in London, the United Kingdom. Since 1926, The Banker is the world’s most important banking and financial topical publication, read in more than 180 countries and is the main source of data and analysis for this industry. 

Last year, the title of the Global Finance Minister of the Year was granted to Minister of Economy and Finance of France Bruno Le Maire.