Lithuanian economy will slow slightly next year but the country will have an accumulated reserve of 1.5 billion euros late next year to be used in times of financial difficulties, Finance Minister Vilius Šapoka says.
© Shutterstock

"Looking at the changing international environment, we see that global economy is not longer growing the way it has so far, and we need to focus on fiscal discipline. We will have 1.5 billion euros accumulated by the end of next year. (…). We are ready for any scenario," the minister told a press conference on Tuesday.

The state reserve will stand at around 1 billion euros late this year, and Šapoka said last week this financial reserve would grow further.

According to the latest estimates from the Finance Ministry, Lithuanian economy is expected to grow 2.8 percent next year, compared to 3.4 percent this year.

The International Monetary Fund warned last week that risks to the global financial system had increased slightly due to difficulties in certain developing markets and the ongoing trade tensions.

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

Vasiliauskas: country needs immigrants with higher qualifications

With more and more immigrants from third countries arriving in Lithuania, the country's central...

Lithuanian aviation holding acquires British aircraft charter company

Avia Solutions Group , a global multipurpose aviation holding company, has completed the...

Lithuania posts one of EU's largest monthly decreases in industrial production

Lithuania posted one of the largest monthly decreases in industrial production among the EU's member...

President's proposed faster pension rise to cost EUR 65 mln in 2 years

A faster increase in pensions, proposed by Lithuanian President Gitanas Nauseda, will cost the state...

Foreign countries surprised by Lithuanian success in this field

Growing social pressure regarding waste and ecology forces countries to introduce packaging...