Lithuania's draft 2019 budget projects higher revenue and expenditures and a larger deficit than this year's plan.
© Shutterstock

Under the 2019 budget bill, which was drafted by the Finance Ministry and will be discussed by the Cabinet on Tuesday, central government budget revenue, including EU and other international support, is expected to grow by 16.7 percent next year compared with this year to 10.587 billion euros and expenditure is projected to rise by 22.2 percent to 11.681 billion euros.

This leaves a budget deficit of 1.095 billion euros, more than twice as high as this year's estimated deficit of 489.171 million euros.

Excluding EU and other international support funds, which are set to decline by 16.6 percent to 1.922 billion euros, central government revenue should increase by 28 percent to 8.665 billion euros.

The government's total tax revenue is expected to grow by 30.1 percent next year compared with this year to 8.019 billion euros. The value-added tax (VAT), the largest single source of tax revenue, should increase by 8.8 percent to 3.85 billion euros.

It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.
Leave a comment
or for anonymous commenting click here
By posting, you agree to terms
Read comments Read comments

Baltic States seek a single regional assessment

Ministers of finance of Lithuania, Latvia and Estonia, the European Commission and NASDAQ appealed...

LMT presents three digital service innovations at Baltic Mobile Congress

LMT (Latvian Mobile Telephone) is the telecommunications market leader in Latvia and a digital service...

CERN is considering the possibility of establishing business incubation centre

Last week, CERN delegation paid a visit to Kaunas University of Technology (KTU) Santaka Valley. The...

Israeli cloud services integrator chooses Vilnius for European base

TeraSky, a leading Israeli cloud solutions integrator, has just announced the opening of its European...

The popular French fashion brand „Gémo“ enters the Baltic States: first store in Lithuania – in 2019

The popular French fashion brand „Gémo“ entered the Baltic States - the first regional store was...