The coronavirus crisis has created favorable conditions for discussions on the establishment of a state bank, says Lithuanian President Gitanas Nauseda who has raised the idea also in the past.
Gitanas Nausėda
Gitanas Nausėda
© DELFI / Domantas Pipas

"There are very favorable conditions right now to speak about a state bank," he told journalists on Friday, adding that such an institution should not necessarily be called a bank but could also be called a development fund.

"Whether we call it a bank or a development fund, the key thing is whether this fund, or bank, will contribute to Lithuania's economic competitiveness and build necessary bridges into the future," Nauseda said.

The president also said he had discussed the idea with Prime Minister Saulius Skvernelis: "Quite a lot of input has already been done".

The president first raised the idea of a state bank last year and said then that the establishment of a state bank "should not be a taboo".

Finance Minister Vilius Sapoka, however, said then the establishment of a state bank would be expensive and risky, and Vitas Vasiliauskas, board chairman of the central Bank of Lithuania, also expressed his doubts on this idea.

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

Minister: budget deficit to narrow, debt-to-GDP ratio to stabilize in 2021

The Lithuanian state's 2021 budget bill has been drafted with the aim of reducing the general...

One in 3 Lithuanians feels anxious about money

Thirty-nine percent of Lithuanians feel anxious about their finances every day, which adversely...

Simonyte: key budget issue is what to do with borrowed money (1)

The key question related to Lithuania's next year budget is what will be done with borrowed money...

Minister: Lithuania financially capable of withstanding another coronavirus outbreak

Lithuania would be financially capable of withstanding another coronavirus outbreak, Finance...

A new commercial bank has launched operations in Lithuania

PayRay , a Lithuanian financial sector company, has started a new page of its business service...

Top news

Only every 2nd resident would get coronavirus jab

Only half of Lithuanian residents would get a coronavirus vaccine once it is become available,...

Energy Minister: Moscow's note shows Baltics are taking right steps

Moscow 's call on Lithuania to review a new draft methodology for electricity trade between the...

China expresses resentment over Freedom Party's Taiwan independence support

The Chinese Embassy in Lithuania has on Friday expressed its resentment over the Lithuanian...

Nauseda urges to refrain from family gatherings on long weekend

Lithuanian President Gitanas Nauseda on Friday called on people to refrain from family gatherings this...

Health minister says nationwide quarantine possible

Lithuanian Health Minister Aurelijus Veryga on Friday did not rule out introducing a nationwide...

|Maža didelių žinių kaina