Lithuania’s Finance Minister Vilius Šapoka states the federal government should not raise its 2021 costs for improving consumption, as the nation is close to breaking eurozone rules on government financial obligation.
” [The Financing Ministry] will propose a safe federal government spending plan,” Šapoka informed the parliamentary Budget and Financing Committee, which is working on next year’s government costs expense, on Wednesday. “What does ‘safe’ ways? Raising costs for intake would not be safe.”
He later on told BNS that Lithuania’s government financial obligation, which soared in the wake of the coronavirus pandemic, would reach nearly 50 percent this year. As a member of the eurozone, Lithuania has actually devoted to keeping it within 60 percent under the Maastricht Treaty.
“We should think about the debt level. If we break the Maastricht criteria, there’s a big chance that the debt will begin growing tremendously in the future […] For the trajectory of our financial obligation, the coming years, 2021– 2023, will be essential,” Šapoka said.The federal government is not planning to present any new taxes next year, according to him, other than maybe the plastic waste tax thought about by the EU.Šapoka refused to approximate the results
of the coronavirus on Lithuania’s economy, stating at this moment it would amount”telling fortune from coffee premises “. LRT English Newsletter Every Friday morning. Weekly newsletter every Friday Source