EU Commission: Lithuania has to focus investments on green and digital transition

  • 2020-05-21
  • BNS/TBT Staff

VILNIUS - The European Commission recommends that Lithuania focus its future investments on the green and digital transition. 

The EU's executive body released its country-specific recommendations on Wednesday. 

Arnoldas Pranckevicius, the head of the European Commission Representation in Lithuania, says the Commission prepared its recommendations in three directions related the coronavirus pandemic, social aspects and investments.   

"It is very important to support liquidity for businesses. In order to shore up the long-term economic recovery, (it is recommended) to front-load mature public investment projects and

promote private investment," Pranckevicius told a news conference on Thursday.

"For Lithuania, it would make great sense to invest in the broadband coverage, clean and efficient energy, sustainable transport, and digital technologies both in the public sector and in small-sized businesses," he added.

The European Commission forecasts that Lithuania's economy will contract by 7.4 percent this year and rebound by the same percentage next year.