Brussels warns govt may regret dividing Lithuania into 2 regions for EU aid
Wednesday, June 28, 2017
The Lithuanian government's decision to divide the country into two separate regions to obtain more funds from the EU after 2020 may fail to bring the expected benefits, a senior European Commission official warned in an interview with BNS.
Lithuania has been too slow to absorb EU aid for the 2014-2020 financing period, which may decelerate economic and wage growth and result in losing a part of European support, the Finance Ministry has warned.
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.