Lithuanian Finance Minister Gintare Skaiste welcomed the International Monetary Fund’s (IMF) decision to postpone its planned mission to Russia indefinitely, BNS reports. Earlier, the Nordic and Baltic countries as well as Poland urged the IMF to reconsider its decision to resume consultations with Russia. Speaking in an interview with Ziniu Radijas, Skaiste noted that it…
The Lithuanian government plans to allocate 3% of GDP to defence in the 2025 draft budget, Finance Minister Gintare Skaiste told Ziniu Radijas, BNS reports. However, if the economic indicators allowed, the government could borrow more for specific defence needs, she added. The minister noted that the projected 3% growth of GDP in 2025 would…
Lithuania’s GDP will grow by 2.3% in 2024 and 2.9% in 2025, according to the Finance Ministry’s revised forecast, BNS reports. In June 2024, the ministry projected that the GDP would grow by 2.1% in 2024 and 2.9% in 2025. Average annual inflation will slow down to 1.0% (1.1%) in 2024, before rising to 2.5%…
Lithuania’s central bank, the Bank of Lithuania, has called on Taiwan’s state-owned Bank of Taiwan (BOT) to provide as diverse banking services in Lithuania as possible, BNS reports. Earlier, business news outlet Verslo Zinios reported that BOT had obtained regulatory approval to open a representative office in Lithuania. Lukas Jakubonis, chief business development officer at…
Lithuania’s GDP growth will amount to 2.4% in 2024 and 2.6% in 2025, according to the International Monetary Fund’s (IMF) latest forecast, BNS reports. The country’s economic growth will be driven by the growth of real wages, public investments, and low inflation, the IMF report states. Average annual inflation will reach 1.2% in 2024, the…
Lithuania will begin issuing defence bonds after 1 October 2024, Finance Minister Gintare Skaiste announced, BNS reports. The defence bonds will have a maximum interest rate of 2%, which is lower than on savings certificates. The lower rate will ensure that the state borrows for defence at a rate that is cheaper than the market…
Lithuania’s ministries of defence and finance are developing a mobile application to enable public donations for national defence, aiming for a summer rollout, BNS reports. Finance Minister Gintare Skaiste said that the app would allow for both periodic and one-off payments, similar to NGOs helping Ukraine. Earlier, the government rejected a proposal on voluntary donations…
Lithuania risks losing millions of euros in EU funds if key reforms, including a tax reform, are not implemented, European Commission (EC) Vice-President Valdis Dombrovskis warned, LRT reports. Dombrovskis will discuss the progress of the tax reform package with Prime Minister Ingrida Simonyte and Finance Minister Gintare Skaiste in Vilnius on 7-8 September 2023. Dombrovskis…
The Lithuanian government has allocated EUR 276mn from borrowed funds for military mobility and infrastructure projects in 2023, BNS reports. Finance Minister Gintare Skaiste said that the Defence Ministry would invest EUR 148mn and the Ministry of Transport and Communications another EUR 128mn in the first year of the investment programme. Total investments in military…