Laimonas Belickas
© Bendrovės archyvas

Lithuania has the ninth highest level of leasing finance in the world with lease agreements signed amounted to more than a billion euros last year in Lithuania.

A third of leasing finance was used for the purchase of road transport vehicles, 27% - for cars, and the remaining third - for machinery and other equipment, according to Laimonas Belickas, chairman of the Leasing Committee at the Lithuanian Banking Association.

The majority of the financing was taken up by the country's small and medium-sized businesses.

“Small and medium business in Lithuania and throughout the European Union set up three-quarters of the jobs and two quarters of overall GDP, so it is important for the whole country,” said Audrius Zabota, Investicijos ir verslo garantijos CEO.

Lithuanian entrepreneurs are not new to leasing with the market in Lithuania for leasing in the country growing every year since 2010.

Leaseurope data shows that companies that use leasing services invest twice as much as those which do not. It said a slight increase in leasing penetration by 2020 could raise the country's GDP by 0.3% -0.7%.

German leaders tell Lithuanian president sanctions on Russia to continue

Lithuanian President Gitanas Nauseda says he has received assurances from Germany 's leaders that...

State and municipalities receive EUR 190 mln in unplanned revenue

Lithuania's state and municipal budgets received 6.247 billion euros in revenue in January-July,...

Indian vice president to visit Lithuania (2)

Indian Vice President Venkaiah Naidu is to meet with Lithuanian President Gitanas Nauseda during...

President sacks corruption-suspected judge and turns to parliament over two other

Lithuanian President Gitanas Nauseda has on Friday dismissed Henrichas Jaglinskis , a judge of...

President rejects government's nominee for EU judge Valancius

Lithuanian President Gitanas Nauseda has rejected the government's proposal to re-appoint...