K. Vaitiekūnas: Coordinated decisions in the Baltic region are necessary for our security and economy
At a meeting with Minister of Finance of Latvia Arvils Ašeradens, Minister of Finance Kristupas Vaitiekūnas discussed the biggest economic challenges of the Baltic States, budget preparation processes, search for defence funds and prospects for economic development in the coming years.
“At our meeting with the Minister of Finance of Latvia, we focused on the challenges of our countries’ region, from defence funding to strengthening the EU’s eastern border. Lithuania and Latvia face very similar threats and needs, therefore, coordinated decisions are necessary. I am convinced that working together we can find sustainable financial instruments faster, strengthen border protection and ensure uninterrupted support for Ukraine", K. Vaitiekūnas stated after the meeting.
During the meeting, ministers discussed economic trends and challenges for next year's budget planning. Both Lithuania and Latvia have adopted amendments to tax laws related to strengthening the financial capacity of the state, creating a more efficient, transparent and socially fair tax system, increasing the economic and financial autonomy of municipalities and seeking to increase national defence funding.
"Joint action by the countries of the Baltic region, contributing to strengthening defence, is not only a necessity, but also an opportunity – it is an investment in a safer future, closer cooperation and the ability to respond to emerging challenges. The closer we coordinate efforts at all levels, the stronger our common security becomes", K. Vaitiekūnas noted.
Last updated: 01-12-2025
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