The city of Kaunas and its municipal companies have have cut their debts by €45 million over the last nine months.
Kaunas
© DELFI (R. Achmedovo nuotr.)

Kaunas Mayor Visvaldas Matijošaitis said in a statement that the municipality managed to ease its debt burden by optimising expenses. "We used to hear excuses that the city is so neglected because there is no money. I've always said there is money, only it was spent on who-knows-what," he said.

At the end of 2014, the total debt of Kaunas and municipal companies stood at €235 million. It had decreased to €190 million by late 2015.

The sum owed by the city of Kaunas to its own municipal companies has also gone down, from €13.5 million to €1.6 million.

"Another successful indicator is that revenue to Kaunas city budget in 2015 was €21 million above what it had been in 2014," Kaunas Municipality administration head Gintaras Petrauskas said.

Leave a comment
or for anonymous commenting click here
By posting, you agree to terms
Read comments Read comments

Lithuania's budget gets EUR 4 mln of "nobody's money" after FNTT probes

4 million euros, officially recognized as having no owner, have been transferred to the state budget...

Lithuanian govt hopes papal visit will encourage religious tourism

Lithuania's government hopes the upcoming papal visit will encourage religious tourism in the country...

Lithuania ahead of Latvia, Poland, but behind Estonia on social progress index

The social environment in Lithuania is better than in Latvia and Poland, but worse than in Estonia,...

PM to invite European retailers to invest in Lithuania

Lithuanian Prime Minister Saulius Skvernelis says he plans to invite 12 European major retail chains...

Akmenė awaiting ground-shaking investment

Lithuania's northern district of Akmenė barely lags behind other cities in Šiauliai County in terms...