aA
Finance Minister Rimantas Šadžius
Finance Minister Rimantas Šadžius
© DELFI / Kiril Čachovskij

The Lithuanian government is planning to have a balanced budget in 2017 and run a small surplus in 2018-2019, according to the Stability Programme presented by the Ministry of Finance on Wednesday.

"This would allow us to cut Lithuania's government debt, which now stands at 40% of GDP, reducing it to 35% in the nearest term, by 2019," Finance Minister Rimantas Šadžius said after a cabinet meeting.

The Stability Programme suggests that the government budget surplus could be 0.8% in 2018 and 0.9% the following year.

The minister said the projections are based on economic growth expectations. The government forecasts 2.5% GPD growth this year and over 3% in subsequent years.

Šadžius also said that tax collection this year should exceed projections.

|Populiariausi straipsniai ir video

8th death in Lituania due to coronavirus

On Tuesday it was announced about another death of a patient with the novel coronavirus .

27 severe coronavirus cases in country

Lithuania currently has 27 severe COVID-19 cases and the coronavirus outbreak has not yet peaked,...

Coronavirus pandemic: 537 cases in Lithuania

On Tuesday, 30th March, 46 new COVID-19 cases were confirmed in Lithuania. In total there were 537...

COVID-19 spread curve shows signs of flattening in Lithuania

There are signs that the coronavirus spread curve in Lithuania is flattening, Health Minister...

Two fever clinics set to commence operations in Vilnius on Tuesday afternoon

The Municipality of Vilnius is opening two fever clinics following last Wednesday’s Ministry of...

Top news

8th death in Lituania due to coronavirus

On Tuesday it was announced about another death of a patient with the novel coronavirus .

Coronavirus pandemic: 537 cases in Lithuania

On Tuesday, 30th March, 46 new COVID-19 cases were confirmed in Lithuania. In total there were 537...

The Roop gets place in final in next year Eurovision selection

Lithuania will hold a national Eurovision selection next year, and this year's winner The Roop, a...

27 severe coronavirus cases in country

Lithuania currently has 27 severe COVID-19 cases and the coronavirus outbreak has not yet peaked,...

GetJet Airlines set to lay off 370 employees

Lithuania's wet-lease and charter services provider GetJet Airlines has given lay-off notices to 370...

|Maža didelių žinių kaina