The Lithuanian parliament, with the blessing of President Dalia Grybauskaitė, approved a generous government budget for the year 2016 but views of whether such a budget is prudent are mixed.
Ministry of Finance
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The Lithuanian Parliament has adopted the final amendments satisfying legal conditions that will ensure Lithuania's full-fledged participation in the banking union.
The Eurogroup, which has discussed the European Commission's (EC) recent assessments of 2016 Draft Budgetary Plans (DPBs) of the Eurozone member-states, expressed doubts about the EC assessment of the Lithuanian economic cycle
Finance Minister Rimantas Šadžius believes there still is a chance that at the end of 2015 Lithuania's gross domestic product (GDP) growth will exceed 2 percent.
The Lithuanian Ministry of Finance has submitted the country's draft budget to the European Commission (EC) and the Eurogroup. Such obligation arose for Lithuania when it became a member of the eurozone in January 2015.
After the Finance Ministry has submitted proposal for the 2016 state budget, which envisages a slightly bigger fiscal deficit than this year, the National Audit Office says this raises the risk for long-term sustainability of government finance. President Dalia Grybauskaitė warns that Lithuania migh...
The revenue of Lithuania’s central government budget, including EU and other international aid, next year should be lower than this year, whereas spending and, consequently, budget deficit should grow.
Lithuania’s government plans to introduce an excise duty on natural gas used for heating from 2016. However, household users as well as organizations that receive support and charity will be exempted from the charge.
The Bank of Lithuania with the Ministries of Economy and Finance have formulated and submitted to the Government proposals for measures whose implementation is expected to promote small- and medium-sized (SMS) business financing in Lithuania through the use of capital market instruments, the Bank of...
The Government of Lithuania on Friday approved candidates for three ambassadorial positions.
The Nordic Investment Bank (NIB) and the Republic of Lithuania have signed a loan agreement, totalling EUR 100 million, with a maturity of 20 years, to improve energy efficiency in public and residential buildings, Lithuania's Ministry of Finance reports.
On Thursday, 23 April, the Board of Directors of the Nordic Investment Bank (NIB) confirmed that the bank will issue a loan of EUR 100 million to Lithuania to finance its Public Sector Energy Efficiency and Housing Renovation programmes. According to the Ministry of Finance, the deal will be inked i...
A smooth adoption of the euro in Lithuania enabled the country not only to improve its international credit ratings but also to reduce borrowing costs, government-run euro.lt website reports.
Chief Analyst of DNB Bank, Indrė Genytė-Pikčienė, says there is a probability that the Lithuanian government will have to revise this year's state budget revenue and expenditure targets.
After evaluating Lithuania's economic situation and the impact of external factors on its economic growth tendencies, the Ministry of Finance has revised main macroeconomic projections for 2015-2017 and prepared projections for 2018.
The Lithuanian government on Wednesday established an energy efficiency fund with 80 million euros earmarked for renovation of public buildings and street lighting.
At the meeting of the Government it has been proposed to create a single natural gas market. A working group initiated by the Ministry of Energy has proposed to merge energy resource exchange UAB Baltpool and natural gas exchange UAB GET Baltic.
On 3 February, Lithuania became the 19th member of the European Stability Mechanism (ESM). Lithuania has ratified the ESM Treaty and now acquires the full rights and obligations of ESM membership.
Amendments to the Law on Public Service have been submitted to the Seimas (parliament) on the initiative of President Dalia Grybauskaitė. The amendments seek to prevent public servants from signing additional work contracts with their own employers, to prevent them from cashing-in on public service ...
According to the Ministry of Finance of Lithuania, the central government's debt in November stood at 39.7 percent of Lithuania's total projected gross domestic product (GDP) of 2014, LTL 49.673 billion (EUR 14.39 billion).
