There are good things in next year's budget, like the increase of national defence budget, but Lithuania will also begin to lose its reputation with international financial institutions and finance markets, Andrius Kubilius, the leader of the opposition in the Seimas (parliament), told Žinių Radijas radio.
Andrius Kubilius
© DELFI / Šarūnas Mažeika

Kubilius said that “we are losing the reputation of a state that knows how to deal with its finances in an orderly and disciplined way. The problem is that the European Commission has expressed fairly strong comments about the excessive deficit in our budget, but the government has decided that there is no need to take the European Commission's comments too seriously. Bloomberg – the most important financial news agency in the world – very openly mocked the decision, warning Lithuania that it chose a path on which it will lose its reputation. It's not only dangerous because the loss of reputation might cause us to blush or feel ashamed – the price for the loss of reputation could be quite high, because Lithuania borrows from the international financial markets. After the loss of reputation, we might have to pay more for our loans.”

According to the opposition leader, the government is responsible not only for filling up peoples' pockets, but also for managing its public finances correctly so that it wouldn't have to lose its reputation and pay more.

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