The use of optimistic projections would pose no problems if budget expenditures were trimmed, automatically, in lockstep with shrinking budget revenue. Sadly, this is not the case.
The 34th edition of the Survey of the Lithuanian Economy provides forecasts of the main economic indicators for 2015 that are based on a poll of market participants.
The chairman of the Central Bank of Lithuania will become a member the Governing Council of the European Central Bank, which is responsible for monetary policy for the euro area. Thus, if Lithuania wants to properly represent it‘s interests, it has to join the debate concerning decisions of the ECB.
Every one of us pays taxes daily and yet only a few could tell how much exactly they pay in taxes per month or per year. The Lithuanian Free Market Institute (LFMI) launched a new tax calculator “Moku mokesčius” (“I Pay the Taxes”), which not only allows Lithuanians to see how much they pay in taxes but also shows how their money is then spent.
During the global financial crisis, public pensions in Lithuania were cut to reduce further strain on the government budget. The Lithuanian government is now considering backpaying these pensions.
Never before have had Lithuanians reelected their President for the second term. And even though, some suspense over the outcome remained until the first polls released their preliminary results, President Dalia Grybauskaite proved that she still has support of the majority of Lithuanians.
Contrary to what Lithuania’s prime minister claims, discussions on euro introduction are far from over. They might be over for those who have had the task of convincing Lithuanians about the benefits of having the euro.
This revolution has not been hampered by the economic crisis. It is going on. This year alone seven countries are going to reduce the profit tax.
The government in Lithuania reports a specific euro introduction target date – 2015. National Euro Changeover Plan and Public Awareness and Communication Strategy are being prepared.
LFMI submitted comments to the Government and the Ministry of Social Security and Labour, welcoming Government-proposed amendments to the Labour Code. LFMI believes that removing the requirements to keep employment contracts record books, to issue monthly pay statements and to conclude labour contracts according to the model form will reduce the high administrative burden for companies. LFMI is of the opinion that such proposals as the permission to conclude fixed-term labour contracts for permanent jobs,…