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The Problematic Lithuanian Pension System
Economy
The Problematic Lithuanian Pension System
Forced solidarity creates a contradiction – the working class taking care of themselves seems to oppose the interests of the pensioners, while helping the pensioners more would result in a greater burden on the workers. The pursuit of solidarity leads to a conflict of interests.
Payment Backlogs: Big Problem for Small Businesses
Economy
Payment Backlogs: Big Problem for Small Businesses
The cost of payment backlogs is not limited to the cost of maintaining the liquidity of the company. In addition to the interest on bank loans, one should also take into account all the additional costs associated with the monitoring of payments from contractors, chasing late payments, and growing risks caused by the delays.
Millions for Self, a Bill for the Taxpayer
Economy
Millions for Self, a Bill for the Taxpayer
Public tenders are beneficial to the taxpayers who actually pay for them. According to the Public Procurement Office of Lithuania, in 2015, over 300 million euro were spent without a competitive procurement procedure. This means that taxpayers have most likely overpaid in the majority of cases.