Lithuanian finance minister promises 'safe' budget for 2021

  • 2020-07-14
  • BNS/TBT Staff

VILNIUS - Lithuanian Finance Minister Vilius Sapoka says the government will carefully weigh any increase in spending and will table a "safe" draft 2021 budget in the autumn.  

"Next year's budget will be really special because we are drafting it in a time of great uncertainty," the minister told reporters after Tuesday's meeting with President Gitanas Nauseda. 

"We must keep in mind that we have a contraction in public revenue both this year and next year and a part of expenditures will be financed by borrowed funds, so we have to be very careful about spending," Sapoka said.   

"We'll evaluate all the proposals very carefully and we'll definitely present a safe budget in the autumn," he added.

Nauseda said earlier on Tuesday that the state's 2021 budget must reflect the idea of ??a welfare state and a new economic model. 

He called for continuing the indexation of pensions, increasing the tax-free income threshold and investing in improving the quality of education as the economy recovers.