aA
With the European Union (EU) expected to issue its final approval today for the adoption of the euro in Lithuania, businesses lowering their prices before the currency changeover should win the competitive race, the Lithuanian finance minister has said.
Rimantas Šadžius
Rimantas Šadžius
© DELFI / Tomas Vinickas

“Many of us have noticed that some businesses started playing with the rounding of their prices. The competitive race will be won by businesses that lower, rather than increase, their prices,” Rimantas Šadžius said in an interview with LRT television.

The EU’s General Affairs Council decision due Wednesday, will be straightforward and clarify two key points, said Šadžius.

“We will find out the date of euro adoption and the currency exchange rate, which will be unchangeable. Then we will have to amend our legislation and double pricing will be launched in August,” Šadžius said.

The public had to be notified about all aspects related to the currency changeover, he said.

“It’s necessary to inform the public how to distinguish between real and counterfeit banknotes. It’s important to talk about practical things and point out that currency will be exchanged free of charge,” the minister added.

Lithuania plans to adopt the euro next January.

BNS
Naujienų agentūros BNS informaciją skelbti, cituoti ar kitaip atgaminti visuomenės informavimo priemonėse bei interneto tinklalapiuose be raštiško UAB "BNS" sutikimo neleidžiama.
|Populiariausi straipsniai ir video

airBaltic plans to resume flights to London, Dublin and Dubrovnik but has no permits yet

Latvian airline airBaltic says it plans to resume flights from Vilnius to London and Dublin in...

Lithuanian company offers solution for international control of coronavirus test and vaccine

After the global coronavirus pandemic began in Wuhan it has affected people all over the world....

Avia Solutions Group to sel Baltic Ground Services Poland

Avia Solutions Group , the largest aerospace business group from Central & Eastern Europe, has...

Paysera has new vice president for development abroad

Starting June 1, Marius Pareščius , IT expert, businessman, and innovator, will be responsible for...

Palanga airport set to reopen with 1st flight since lockdown

Hungary's Wizz Air is on Tuesday relaunching its regular service between Palanga and Dortmund,...

Top news

Free movement between Poland and Baltics to be restored next week

Free movement between Poland and the Baltic states will be resumed next week, Lithuanian Prime...

Candidates list of social democrats for upcoming Seimas election approved

The presidium of the opposition Social Democratic Party of Lithuania on Thursday approved the...

airBaltic plans to resume flights to London, Dublin and Dubrovnik but has no permits yet

Latvian airline airBaltic says it plans to resume flights from Vilnius to London and Dublin in...

7 new coronavirus cases in Lithuania

On Thursday, Lithuania has detected 7 new coronavirus cases. Overall, there have been 1694 COVID-19...

Foreign minister: EU's external borders unlikely to open until late June

The European Union 's external borders may remain closed until late June, Lithuanian Foreign...

|Maža didelių žinių kaina