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2021 05 21
Minister of Finance G. Skaistė: “Further Development of the Fintech Sector Needs to Be More Focused on Quality Rather Than Quantity”

Today’s meeting of the Advisory Commission on Financial Markets Policy Formation focused on the long-term perspective of the financial technology (fintech) sector and risk management. At the meeting the stress was made that in recent several years Lithuania succeeded ...

2021 05 17
Anti-money laundering in Lithuania taken to a qualitatively new level

Today, the Centre of Excellence in Anti-Money Laundering starts its activities in Lithuania. Bringing together representatives of both the public and private sectors, it aims to lift anti-money laundering practices implemented in the country to a whole new level. The Centre will be led by Eimantas Vytuvis, a highly experienced lawyer and certified anti-money ...

2021 05 15
The Government Approves the Revised Draft Budget for 2021

Today, the Government approved the revised draft State budget for 2021 prepared by the Ministry of Finance, where the majority of funds are earmarked for the management of negative coronavirus pandemic effects. The revised draft budget is prepared in order to finance newly emerging and lasting longer than planned needs and measures for reducing the COVID-19 effects. ...

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2021 05 14
The Government Approved the Integrated Plan “New Generation Lithuania”

Today, the Government approved the updated integrated plan “New Generation Lithuania” providing for reforms and investments for the development of Lithuania as a country generating high added value. Minister of Finance Gintarė Skaistė notes that this decision will allow to undertake necessary reforms which the Council of Europe has been talking about ...

2021 04 16
“New Generation Lithuania” – the Government Plan to Ensure a Breakthrough

Today, Minister of Finance Gintarė Skaistė presenting the integrated draft plan “New Generation Lithuania” prepared by the Government said that the intensively prepared document will ensure the country’s breakthrough towards a more equitable, smarter and high added value generating country. “When yesterday the Government announced good news ...

2021 04 06
PayRay Bank gets EU-backing to expand access to finance for Lithuanian SMEs

In order to support small and medium sized businesses in Lithuania, who are under strain from the COVID-pandemic, Lithuanian financial intermediary PayRay Bank has signed two guarantee agreements with the European Investment Fund. The two guarantees are made available under the European Guarantee Fund, an initiative of the EIB Group and EU Members ...

2021 03 31
The Ministry of Finance: “Economic Recovery is Strongly Linked to the Further Development of the Pandemic”

The basis for economic recovery is further containment of the pandemic and massive vaccination of the population – it is foreseen in the updated spring economic development scenario for 2021-2024 prepared by macroeconomic experts of the Ministry of Finance. “The acceleration of the public vaccination ...

2021 02 21
Rating Agency Moody’s Shows Confidence in the New Government – After Six Years It Upgrades Lithuania’s Long-Term Credit Rating, While Standard & Poor’s − Affirms the Tenable A+

The international credit rating agency Moody’s Investment Service has upgraded Lithuania’s A3 (positive outlook) long-term borrowing rating to A2 (stable outlook) in 2015. Another credit rating agency S&P ...

2021 01 21
The European Commission Publishes the Assessment of the Updated 2021 Lithuanian Draft Budgetary Plan

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 ...

2021 01 19
The Ministry of Finance Calls the Public to Mobilise for a Tax Relief Review

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 ...

2021 01 18
Renovation Wave: Innovative Investment Platform is Set Up to Increase Energy Efficiency of Multi-Apartment Buildings in Lithuania

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 ...

2021 01 18
At the Euro Group and ECOFIN Summits – the Issues of the EU Economic Recovery and Non-Performing Loans

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 ...

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