Lithuania has been commended by the Eurogroup, the meeting of eurozone's finance ministers, for its efforts to cut budget deficit and rein in public spending, says Finance Minister Rimantas Šadžius.
Rimantas Šadžius
© DELFI / Kiril Čachovskij

The meeting of the eurozone finance ministers on Monday discussed the budgets of eurozone countries and the situation in the EU's monetary union.

"Despite remaining doubts about risks of exceeding structural deficit indicators, the Eurogroup noted Lithuania's successful efforts to implement measures that helped cut its budget deficit in 2015 and that should ensure that our country will fully meet the requirements of the Stability and Growth Pact in 2016. Those measures include improving tax collection, especially VAT and excise duties, which significantly reduces budget risks," Šadžius said in a statement.

In its previous report on Lithuania's 2016 government budget draft, the Eurogroup had said that the country risked straying too far from structural budget deficit targets.

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