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2012.12.03 18:54

Lithuania amongst the lowest spenders of social security in the EU

Jorge Marcano | The Lithuania Tribune2012.12.03 18:54

The latest analysis done by the European Union Statistical Office, Eurostat, reveal some uncomfortable trends in the Baltic country. According to their latest evaluations, Lithuania’s social spending on social security ranked 7th lowest (in terms of share of its GDP) amongst all 27 EU Member States.

The latest analysis done by the European Union Statistical Office, Eurostat, reveal some uncomfortable trends in the Baltic country. According to their latest evaluations, Lithuania’s social spending on social security ranked 7th lowest (in terms of share of its GDP) amongst all 27 EU Member States.

The Lithuanian indicator for this measurement stood at 19.1% of the nation’s Gross Domestic Product (GDP), just 1.5% above Romania (one of the poorest EU members). According to the 2010 Eurostat data, Romania had the smallest social security budget with 17.6%.

On the bright side, Lithuania scored higher than its Baltic neighbours since Latvia invested much less in social security (17.8%) and Estonia tied with Bulgaria for an investment of 18.1%. Other countries like Slovakia (18.6%) and Poland (18.9%) had a similar figure to that of Lithuania.

The great spenders of social spending where a welfare state is guaranteed for its citizens and which coincidentally have the lowest poverty rates were EU developed nations like France (33.8%), Denmark (33.3%), the Netherlands (32.1%) and Germany (30.7%). Eurostat remarked that such percentage differences reflect diverse living standards within the EU as well as the different ways in which national social security systems are conceived.

Lithuania Tribune