Lithuania's draft budget for 2018 complies with the fiscal requirements of the Stability and Growth Pact, the European Commission said on Wednesday.
© DELFI / Domantas Pipas

The EU's executive body noted that Lithuania has made some progress in meeting the fiscal recommendations given to it last July and called on the country's authorities to seek further progress.

Lithuania, which joined the Eurozone in January 2015, submitted its draft budget to the European Commission and the Eurogroup for assessment for the third time. This is the first year that the EU's executive body found the country's budgetary plan to be fully in line with the fiscal discipline rules.

The 2018 draft budget projects a general government surplus of around 240.7 million euros, or 0.6 percent of GDP, with general government revenue planned at 16.082 billion euros, or 37 percent of GDP, and expenditure at 15.839 billion euros, or 36.4 percent of GDP.

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

Lithuania to step up visa issuance for foreign startups

Lithuania will start issuing visas to businessmen establishing startups in the country faster as of...

Lithuania's aviation group buying UK's charter airline

Avia Solutions Group , an aviation group owned by Lithuanian businessman Gediminas Ziemelis , is...

Training center to replace old correctional facility in Vilnius

The demolition of an unused complex of buildings that used to house a correctional facility will...

120 million EUR will be provided for European beekeepers

The European Commission will provide €120 million to the EU's beekeeping sector over the next...

Court: Lithuanian companies don’t have to pay million-worth fine to Serbia

Arvi , a Lithuanian fertilizer, fodder, sugar and turkey meat production group owned by businessman...