Lithuanian Prime Minister Saulius Skvernelis says his Cabinet's updated 2020 state budget plan will be balanced to comply with fiscal discipline rules after the parliament has rejected a part of the government's tax proposals.
© DELFI / Josvydas Elinskas

According to Skvernelis, his Cabinet will not follow in the footsteps of Gediminas Kirkilas' government which was criticized for over-spending ahead of the 2009 crisis.

"The submitted state budget is balanced, in accordance with the fiscal discipline law," the prime minister told reporters on Wednesday. "Yesterday, the Seimas reduced the revenue part of the budget and now we will have to reduce the expenditure part, too."

"We have two weeks; the bills will be debated in the Seimas, in committees, and we will see what balance we will have," Skvernelis said.

"When (the package) is reintroduced, we'll submit a strictly balanced budget, because this government will definitely not do it the way Kirkilas' government did and will not leave the state in a financial disaster," he added.

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

Ignitis Group plans to delist its subsidiaries from Nasdaq Vilnius

Lithuania's state-owned energy group Ignitis Grupe (former Lietuvos Energija ) is planning to...

Norwegians press exporters to cut prices amid weakening krone

The weakening of Norway 's krone against the euro has not yet hit Lithuanian exports to the...

Lithuanian Post's board refuse to stay on after ministry orders halt to sale of buildings

Independent members of the management board of Lietuvos Pastas ( Lithuanian Post ) have refused to...

Lithuanian gears up for reconstruction of Via Baltica's section until Polish border

Lithuania's Road Administration is getting ready for the 300 million euro worth reconstruction of...

SAI Global to open Centre of Excellence in Vilnius

A multinational leading provider of integrated risk management solutions, assurance and property...