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Responding to comments made by Vilnius Deputy Mayor Romas Adomavičius, who said that the Lithuanian capital city was on the brink of bankruptcy, Finance Minister Rimantas Šadžius insists that the city needs more financial discipline and transparency in its activities.
Finance Minister Rimantas Šadžius
Finance Minister Rimantas Šadžius
© DELFI / Tomas Vinickas

"The first and the most significant solution is in hand of the municipality, which is to balance their income and expenses," the minister said.

In the view of Šadžius, one should not confuse debts which arose because of operating costs related to the city's maintenance on the one hand and, on the other, infrastructure projects developed in Vilnius, which are in part funded from the state and the European Union's structural funds.

On Wednesday, Vilnius Deputy Mayor Romas Adomavičius said in parliament that Vilnius was more than LTL 1.2 billion (EUR 348 million) in debt and the city's problems could be solved only by increasing the share of the personal income tax (GPM) which is given to Vilnius. Prime Minister Algirdas Butkevičius said on Wednesday that the GPM share for Vilnius could be increased by 2 percentage points. Currently, the share of GPM for the capital city stands at 48 percent.

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