Lithuania's finance authorities trying to curb inflation

  • 2007-01-24
  • By TBT staff
The representatives of Lithuania's Finance Ministry pledged to reveal possible measures to tame inflation, the main obstacle to the adoption of euro, in February. The tools are not numerous, with focus being on budget balancing, the Verslo Zinios daily reported on Jan. 24. "This is the third revision of the plan, which examines the technical aspects of euro introduction, the period of double currency pricing, etc.," the Undersecretary of the Ministry of Finance and the chairman of the task group working on the plan Rolandas Krisciunas told the paper, adding that "The new revision does not specify the date of euro introduction." In October, the commission for the coordination of the adoption of the euro authorized the task group to revise the euro adoption plan by Jan. 2, 2007. The plan has not been finalized and is not being published. Lithuania failed to adopt the euro starting from 2007 due to its twelve-month inflation average being slightly above the EU reference rate.