IMF: Lithuania’s income redistribution through budget is too small

Feb 11, 2013

VILNIUS - On Monday, representatives of the International Monetary Fund (IMF) met with Prime Minister Algirdas Butkevicius and noted that Lithuania had successfully recovered from the crisis but pointed out that Lithuania's income redistribution through the budget was the lowest in the European Union (EU) and encouraged to increase it.

"It is important to emphasize that Lithuania has stepped forwards from crisis of 2008-2009. The economy has attracted a lot of investment and a number of vulnerable areas in the economy have decreased. Lithuania has successfully laid foundation for economic recovery and it is already visible. We hope that the Lithuanian economy will continue to recover in 2013," said Head of the IMF mission in Lithuania Julie Kozack.

Kozack encourages increasing level of income redistribution through the state budget.

"Lithuania's rate of collected revenue and GDP is the lowest in Europe and there is certainly room for change," says Kozack.

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