2019.11.20 17:15

Lithuania's government budget compliant with eurozone rules, EC says

BNS2019.11.20 17:15

Lithuania's government budget for 2020 complies with the European Commission's fiscal discipline rules, the country's Ministry of Finance has said.

“Lithuania's has, for the third year in a row, received a positive assessment from the European Commission [which said] that its draft budget plans comply with the fiscal discipline rules applicable to eurozone members,” Finance Minister Vilius Šapoka was quoted in a statement on Wednesday.

The European Commission projects that the Lithuanian government will have balanced income and spending in 2019 and 2020. Meanwhile Lithuania's Finance Minister expects a headline budget surplus of 0.1 percent of GDP in 2019 and 0.2 percent in 2020.

The EC estimates that the structural deficit will decline to 0.9 percent of GDP in 2020. The Finance Ministry expects it to stand at 0.8 percent GDP.

The government debt, based on the EC estimates, will amount to 35.1 percent GDP, similar to the ministry's own estimate.

Of of 19 eurozone member states, only nine countries received positive assessments from the EC: Germany, Ireland, Greece, Cyprus, Lithuania, Luxembourg, Malta, the Netherlands and Austria.

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