aA
Amid the declining population, Lithuania should tackle demographic problems and ensure quality of jobs, says the Organization for Economic Cooperation and Development the country aims to join.
Members of the Organization for Economic Cooperation and Development
Members of the Organization for Economic Cooperation and Development

"Lithuania is recovering strongly from the economic crisis. Lithuania is back to pre-crisis period so now the focus should be on tackling problems of quality of jobs, of income inequality and also demographic challenges," Stefano Scarpetta, director for employment, labor and social affairs at the OECD, told a Vilnius news conference on Thursday.

According to calculations by OECD experts, Lithuania's population has been shrinking by 1 percent every year in the past years, with people emigrating for better-paid jobs. Forecasts suggest that the share of the working age population will decline by 9 percent by 2020 and by further 20 percent over the next decade, OECD said in a press release.

According to the report, the difference between salaries in Lithuania and other European nations is shrinking too slow to give hope for a drop in emigration in the future.

Furthermore, OSCE said the income inequality remained high, and there has been virtually no improvement in the living standards of the most impoverished households over the past year.

Experts say that in order to increase the budget for social needs requires raising tax revenue and revision of the tax structure, suggesting that introduction of progressive residents' income tax tariffs, property taxes, capital gain taxes and environmental taxes would help reduce the inequality.

Informally titled as the club of the world's wealthy nations, OECD currently includes 35 countries with a high level of economic development. Lithuania was invited to initiate the OECD accession process in June of 2015.

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

Lithuanian scientists create new breakthrough technology

Panevėžys Mechatronics Center (PMC) announced about the creation of a new breakthrough technology...

Bad news for travel lovers from Wizzair

Hungarian airline Wizz Air will no longer fly from Vilnius to Reykjavik and Athens as of late...

Expert: internet names registered for personal use remains high

The Internet Service Centre DOMREG at Kaunas University of Technology (KTU) – the registry of...

Belarus offered alternative amid supply row with Russia

A crude shipment from Norway for Belarus is expected to arrive in the port of Klaipeda this week...

Coming soon: Tesla supercharger in Kaunas (1)

It seems that Tesla hopes more its cars in Lithuania.

Top news

MPs initiating impeachment proceedings against Rozova

Members of the Lithuanian parliament's Committee on National Security and Defense (CNSD) are...

New rector of Vilnius University elected

Rimvydas Petrauskas , dean of Vilnius University 's Faculty of History, has been elected its rector...

Bad news for travel lovers from Wizzair

Hungarian airline Wizz Air will no longer fly from Vilnius to Reykjavik and Athens as of late...

Lithuanian scientists create new breakthrough technology

Panevėžys Mechatronics Center (PMC) announced about the creation of a new breakthrough technology...

President to skip Holocaust forum in Israel

Lithuanian President Gitanas Nauseda has decided not to go to a major Holocaust commutation event in...