Lithuania's government on Tuesday backed the bill on the 2019 state and municipal budget with a 0.4 percent GDP of public finances.
Vilius Šapoka
© DELFI / Karolina Pansevič

According to the document, the state budget's revenue is set to rise 19.7 percent, or 1.516 billion euros, to 10.587 billion euros, and expenditure will increase 22.2 percent, or 2.121 billion euros, to 11.681 billion euros. The state budget's deficit will stand at 1.095 billion euros, up 2.2 times, or 605.369 million euros, from this year's planned deficit of 489.171 million euros.

The fast rise in budget revenue and expenditure is related to the planned tax overhaul (the consolidation of taxes on the employee's side), as well as the transfer of the funding of the general part of the social insurance pension to the state budget.

Finance Minister Vilius Šapoka told the government sitting on Tuesday that revenue and expenditure of municipal budget should stand at around 2.9 billion euros next year.

BNS
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