aA
As Lithuania is set to introduce quarantine over the coronavirus, the country's government has vowed to endorse an economic stimulus and business assistance plan on Monday.
Pieno gamykla
Pieno gamykla
© Shutterstock

At a Cabinet sitting on Saturday, Finance Minister Vilius Sapoka said resources will be allocated for healthcare, employment promotion and social guarantees, as well as ensuring business liquidity and promoting the economy.

"The situation is exceptional, and the economic response must be decisive and unprecedented," Sapoka said during the Cabinet sitting.

In his words, the healthcare system's needs during its fight against the coronavirus will be funded from the state and government reserve, and by also borrowing and using the funds of the mandatory health insurance reserve.

The government also pledges subsidies and the possibility to use the long-term unemployment fund to help businesses.

"We will apply the principle of solidarity and will share this burden with the business sector," the minister said.

Also, he said, businesses will be allowed postponing tax payments, and recoveries will be suspended and the possibility will be provided to be exempt from paying the land and real estate tax. The government also pledges to provide guarantees for working capital loans and partial interest compensation.

The government also vows to take measures to stimulate the economy by, first of all, redistributing funds for already planned projects.

"The climate change fund will be „thawed“, the road fund will be „thawed“ and additional investments will go to renovation, renewable energy and other infrastructure measures," Sapoka said.

The government plans to up borrowing and guarantee caps on Monday to be able to implement this plan.

"We will need the Seimas' approval here but I think nobody will have doubt that these measures are necessary," the finance minister said.

Prime Minister Saulius Skvernelis said these measures will be approved during the Cabinet's Mnday sitting. "It will be approved at 10 a.m. on Monday during the Cabinet sitting," he said.

The prime minister said earlier "we are speaking about at least 1 billion euros".

The Lithuanian government decided on Saturday to introduce quarantine on Monday to slow the spread of the coronavirus.

Once the quarantine is in place, the majority of foreigners will be banned from entering Lithuania, and the majority of shops will be closed, except for food shops.

The ban will not apply to the movement of goods.

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.
|Populiariausi straipsniai ir video

Palanga Airport is preparing for reconstruction: runway and parts of apron to be renewed

Palanga Airport is preparing for an important reconstruction in the autumn of 2021, as the runway of...

Skvernelis sees EU's proposed emission cut target as achievable (1)

The European Commission 's proposal to cut greenhouse emissions in Europe by 55 percent by 2030 is...

Lithuania mulls allowing third-country businesses open e-money accounts

Lithuania is considering facilitating conditions for Belarusian businesses to move to Lithuania...

Lašas: engineering students have many opportunities in space

Students that choose technological sciences are welcome in many companies, including space technology...

Lithuania and US agree to rigorously evaluate 5G equipment suppliers

Lithuania and the United States have signed a joint declaration and agreed to step up cooperation...

Top news

Mandatory testing for all new hospital patients ordered visits tightened

The Lithuanian government is planning to reintroduce mandatory coronavirus testing for patients on...

Survey: President's popularity up, Health minister's down

Lithuanian President Gitanas Nauseda has seen his popularity rating grow in recent months, whole...

President: COVID-19 numbers are growing everywhere but Lithuania is better-prepared

The number of coronavirus cases is growing in all countries, and Lithuania is this time better...

70 new coronavirus cases

On Sunday 70 new COVID-19 cases were detected in Lithuania . It adds to 3814 confirmed coronavirus...

Minister: basic pay for civil servants in Lithuania to go up by one euro (2)

The basic pay rate for politicians, judges , officers, civil servants and other employees of...

|Maža didelių žinių kaina