The Seimas, the Parliament of Lithuania, has accepted for consideration the 2016 state draft budget law after discussions and questions to Finance Minister Rimantas Šadžius.
Seimas of Lithuania
© DELFI / Mindaugas Ažušilis

The draft budget will be considered at the committees and political groups for at least 15 days, ordinary plenary sittings will not take place during this time.

Next year the state budget revenue, including international financial support, will amount to EUR 8.004 billion, or 0.2 percent more than in 2015. Projected budget expenditure will stand at EUR 8.655 billion, EUR 258.6 million more compared to 2015. As a result, the budget deficit will grow to EUR 651 million. The state budget including, municipal budgets, will total EUR 9.394 billion, while the total expenditure will be EUR 10.045 billion, 3.8 percent more than in 2015.

Most appropriations in 2016, as often is the case, will be allocated for social security - over EUR 1.1 billion. The national defence budget will receive EUR 547 million, EUR 149 million more than in 2015.

Next year Lithuania is going to spend EUR 6 million for the reception of refugees.

"Lithuania has to prepare financially to receive third-country nationals," Minister Šadžius told the parliament. "We have foreseen slightly over EUR 6 million based on our current calculations."

EUR 0.5 million is foreseen in the 2016 Compulsory Health Insurance Budget for the health care services for refugees.

In 2016, the Government intends to borrow around EUR 1.7 billion, nearly twice less than in 2015. In late 2016 public debt is projected to account for 40.8 percent of GDP.

It is forbidden to copy the text of this publication without a written permission from ELTA.
Leave a comment
or for anonymous commenting click here
By posting, you agree to terms
Read comments Read comments

Presidential election campaign kicks off in Lithuania

The campaign for presidential election in Lithuania officially started on Monday with seven candidates...

Ruling party moves to cut MP seats to 121

Lawmakers of the ruling Lithuanian Farmers and Greens Union (LVŽS) say that will table a new draft...

Health minister to table new hospital network reform amendments

Lithuanian Health Minister Aurelijus Veryga and several lawmakers said on Friday they are submitting...

Agrokoncernas pledges to stop buying fertilizers from Rotenberg

Agrokoncernas , a business group owned by Ramūnas Karbauskis , leader of the ruling Lithuanian...

ForMin advises against having business with sanctioned Russians

Lithuania's Ministry of Foreign Affairs recommends Lithuanian companies to refrain from business deals...