The Lithuanian government aims to achieve a budget surplus in 2016, Prime Minister Algirdas Butkevičius says.
Algirdas Butkevičius
© DELFI / Šarūnas Mažeika

"We will seek a budget surplus in 2016," Butkevičius told lawmakers, who are opening the autumn session on Wednesday.

A stabilizing budget policy bill that will obligate the country's authorities to accumulate reserves if there is a budget surplus will reach the Seimas next year, he said.

New legislation aimed at strengthening public finance discipline and increasing budget revenue has been or is being drafted. The government plans to improve the collection of taxes, curtail smuggling of excise goods, step up the fight against the shadow economy and limit cash payments, the prime minister said.

"The state budget deficit is narrowing. We no longer have a current account deficit. Our state debt is among the lowest in the EU. Our households have strengthened considerably and bank deposits exceed loans to private individuals by 5 billion litas (EUR 4.5b)," Butkevičius said.

"A string of (credit) rating upgrades reflects the financial markets' growing confidence in Lithuania," he added.

BNS
Naujienų agentūros BNS informaciją skelbti, cituoti ar kitaip atgaminti visuomenės informavimo priemonėse bei interneto tinklalapiuose be raštiško UAB "BNS" sutikimo neleidžiama.

New trends in startup world: unicorns' aspiration is not key anymore

The question when the first unicorn with over 1 billion of US dollars in value will appear in the...

Shopping frenzy: biggest retail chains plans allocate millions of euros for new stores

Lithuania's five biggest retail chains – Maxima , Lidl , Rimi, Iki and Norfa – have...

Construction launched on EUR 15 mln hotel in Kaunas

Construction is being launched on a 15-million-euro Moxy hotel, part of the Marriott Group , in...

Revolut moves operation launch date in Lithuania (1)

The United Kingdom's fintech startup Revolut has moved the operation launch date of its specialized...

“Shazam” co-founder before his visit in Lithuania: it will be new experience



You need to fail and learn many lessons before you finally reach your success. This can be proved by...