The Seimas of Lithuania on Tuesday adopted the 2021 budget with 77 votes in favor, 2 votes against and 49 abstentions.
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New taxes and payout rates will be introduced in Lithuania on Jan 1. BNS offers an overview of seven key changes:
A faster increase in pensions, proposed by Lithuanian President Gitanas Nauseda, will cost the state an estimated 65 million euros in the next two years.
Lithuanian President Gitanas Nauseda is putting forwards amendments to three laws for the parliament's consideration, aimed at ensuring that pensions rise faster in the country and the number of older people living in poverty goes down.
The Lithuanian government on Wednesday ordered only the state-run postal company Lietuvos Pastas (Lithuanian Post) to deliver pensions by the end of 2026, despite objections from the Competition Council.
Lithuanian President Gitanas Nauseda has proposed to the country's Seimas to increase social security spending by additional 100 million euros next year and to spend the majority of it to step up increases in old-age pensions and payments to the disabled.
