The Lithuanian government and the businesses can relax for now and enjoy their summer vacation – the Lithuanian economy continues growing at an accelerated pace . The Lithuanian GDP increased by 3.9% in Q2 of this year, compared to the same period a year ago. Meanwhile, in quarterly terms, the seasonally adjusted GDP increased by 0.6%. The annual growth for Q1 was revised up by 0.2 pp to 4.1%, Swedbank announced.
Partners in Lithuania's ruling coalition, the Social Democrats, suggest introducing a reduced value-added tax (VAT) on main food products and again proposed progressive taxes, says Andrius Palionis, elder of the party's political group.