aA
The Seimas of Lithuania has on Tuesday increased the state's net borrowing limit from 904.6 million to 5.4 billion euros as additional funds are necessary to compensate for a drop in state revenue and mitigate the coronavirus crisis' impact on the Lithuanian economy.
Eurai
Eurai
© Scanpix

107 lawmakers voted in favor of the changes. They approve the new limit for state guarantees for loans used to stimulate the country's economy affected by emergency situations and to increase liquidity. The total value of commitments assumed in 2020 will not be able to exceed 500 million euros.

Finance Minister Vilius Sapoka told the parliamentary Committee on Budget and Finance the government will borrow both in Lithuania and in international markets, adding that 5.4 billion euros is not the final amount.

In his words, more realistic amounts will be clear later and the parliament will have to give its additional permission to increase the state's debt.

Sapoka also said Lithuania has already started looking where to borrow.

"We have turned to international organizations to be the first in line, if that was necessary," he said.

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.

President expects WTO procedures on China to give important answers

The World Trade Organization's procedures on China's unofficial economic sanctions against Lithuania...

Danish fighters join NATO's Baltic air policing mission

Four Danish fighter jets have arrived in the Lithuanian Air Force's Siauliai Air Base to join NATO's...

Greek court to rule on Ukrainian's extradition to Lithuania next week

The Supreme Court of Greece is likely to rule next week on whether to extradite Oleksandr Radkevich, a...

11 365 new COVID-19 cases

On Thursday, 11 365 new COVID-19 cases were detected in Lithuania. Since the beginning of the...

Foreign Minister welcomes EC's decision to turn to WTO

Lithuanian Foreign Minister Gabrielius Landsbergis has welcomed the European Commission's decision to...

Top news

Danish fighters join NATO's Baltic air policing mission

Four Danish fighter jets have arrived in the Lithuanian Air Force's Siauliai Air Base to join NATO's...

Belaruskali appeals against Lithuania's decision to terminate rail transit contract

Belaruskali has lodged an appeal in a Vilnius court against the Lithuanian government's decision to...

11 365 new COVID-19 cases

On Thursday, 11 365 new COVID-19 cases were detected in Lithuania. Since the beginning of the...

President urges to "fix" Taiwanese office name

Lithuanian President Gitanas Nauseda has called on the country's government to "fix" the name of the...

Simonyte: we need to be ready for everything, only Putin can answer on war

Lithuania needs to get ready for all possible scenarios over Russia's military buildup near Ukraine...