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.
Prime Minister vows to balance 2020 budget after tax proposals rejected
© 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.

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

Scientists: strict lockdown might be necessary as early as November

Under the most pessimistic scenario, a strict quarantine in Lithuania might be necessary as early as...

Lithuania hands in note to Minsk over Astravyets NPP

Lithuania has on Tuesday handed in a diplomatic note to Minsk over plans to launch power production...

413 new coronavirus cases

On Monday, 413 new COVID-19 cases were detected in Lithuania. Overall, it adds to 11362 confirmed...

Football and basketball officials say ban on fans in stadiums understandable

Lithuania's top football and basketball officials say the government's planned ban on fans in stadiums...

Colin P. Clarke, Asfandyar Mir | D+ nariams

Al Qaeda’s leader is old, bumbling, and a terrorist mastermind

Ayman al-Zawahiri isn’t trying to plan another 9/11 attack—because he doesn’t need to.

|Maža didelių žinių kaina