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The President of Lithuania has signed the State Budget and Municipal Budgets for 2009

Date

2008 12 31

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Vilnius, December 31. The President of the Republic of Lithuania signed State Budget and Municipal Budgets for 2009 on Monday, December 29.

Next year the National budget, which covers the State and municipal budgets, EU budget funds included, will receive LTL 29,707.1 million, or by 1% higher revenue than the target planned for the current year. Grants from the EU budget will total LTL 5,467.9 million.

The draft State Budget and Municipal Budgets for 2009 is oriented towards saving and efficient use of taxpayer funds. The total planned result of this saving – up to LTL 2 billion. Also, immediate action will be taken in the tax area – a set of amendments to tax laws is submitted along with the draft budget – the outcome of this tax reform should equal up to LTL 2 billion of revenue.