Lithuanian Presidency of the Council of the EU: focus on the new EU budget, support for Ukraine, European competitiveness and modernisation of the tax system
During Lithuanian Presidency of the Council of the European Union in the first half of 2027, the Ministry of Finance will focus on the EU's Multiannual Financial Framework (MFF) for 2028-2034, further financial support for Ukraine, the implementation of the Savings and Investment Union, strengthening European competitiveness and modernising tax policy.
"The Lithuanian Presidency will take place at a time when the geopolitical and economic situation in Europe remains difficult to predict, thus we need to be prepared to react flexibly to changing circumstances, while maintaining clear priorities. Ensuring continued and timely financial support to Ukraine and successfully concluding the negotiations on the EU’s new Multiannual Financial Framework are key priorities for Lithuania. At the same time, we must not forget the day-to-day but equally important objectives of strengthening European competitiveness, integrating financial markets and modernising the tax system. We will strive to be a reliable and effective intermediary in finding solutions of pan-European interest", Januš Kizenevič, Vice-Minister of Finance, said at the meeting of the Committee on European Affairs of the Seimas, presenting the priorities of the Lithuanian Presidency in the area of finance and economy.
One of the main topics on the agenda of the Lithuanian Presidency will be the EU Multiannual Financial Framework 2028-2034. Depending on the state of play of the negotiations during the next semester under the Irish Presidency, Lithuania may need to finalise the negotiations on the MFF Regulation and other legislation related to the new financial period. In addition, guidelines for the EU budget for 2028 will be prepared and discussions on the EU's own resources system will continue.
Further financial support from the European Union to Ukraine will be an important part of the Presidency's agenda. Lithuania will seek to foster discussions on additional financial assistance measures to ensure sufficient and uninterrupted funding for Ukraine.
In the area of financial services, the Presidency will focus on the implementation of the Savings and Investments Union, the integration of EU capital markets, strengthening the competitiveness of banks, improving the pension system and negotiating legislation related to the digital euro. Progress will also be made in modernising the EU tax system, reducing the administrative burden on business while strengthening the fight against tax fraud, tax avoidance and tax evasion.
"During our Presidency, we will focus on the Market Integration and Effective Supervision Package (MISP), which aims to strengthen the integration and smooth functioning of EU capital markets, reduce regulatory and supervisory fragmentation, national regulatory divergences and barriers to cross-border activity, and introduce new technologies. During the Lithuanian Presidency, depending on the outcome of the Irish Presidency, it may be necessary to conclude negotiations with the European Parliament", J. Kizenevič stated.
In the area of Cohesion Policy, it is planned to continue negotiations on the Cohesion Policy regulations and to seek agreements on national and regional partnership plans.
During the Presidency, the Ministry of Finance, together with the Ministry of Foreign Affairs, will organise two high-level European Union events in Lithuania: informal ministerial meetings of the General Affairs Council (Cohesion) and the Economic and Financial Affairs Council (ECOFIN), and seven informal meetings of working groups and committees of the Council of the EU.
Lithuania will hold the Presidency of the Council of the European Union in the first half of 2027, taking over from Ireland and then handing it over to Greece. Together, these three countries form the joint 18-month Trio Presidency. A few weeks ago, the TRIO priorities were adopted: a free and democratic, strong and secure and prosperous and competitive Europe.