Lithuanian government approves its first budget in euros
Friday, October 3, 2014
The Lithuanian Cabinet on Friday endorsed a draft budget for 2015, the first year of the country's eurozone membership. Finance Minister Rimantas Šadžius has said that the bill is to be submitted to parliament for approval no later than 17 October.
Excessively optimist forecasts and no instruments for boosting the domestic market in the 2015 Lithuanian budget proposal may lead to economic problems, says Gitanas Nausėda, adviser to the SEB bank president.
The Lithuanian Ministry of Finance proposes to scrap a VAT exemptions for district heating, saying that a draft state budget for 2015 earmarks sufficient funds to compensate low-income families for increased heating bills.