Lithuania passes 2011 budget

  • 2010-12-10
  • TBT Staff

VILNIUS - Lithuanian parliament has passed next year's budget, described by Prime Minister Andrius Kubilius as a "crisis budget".

"This remains a crisis budget," he said, highlighting that Lithuania is nonetheless on the way to economic recovery. "This budget will allow us to be somewhat optimistic about 2011 and ensure the stability of our financial system, whatever might happen in Ireland or in Portugal."

Finance Minister Ingrida Simonyte said, however, the government may have to revise its 2011 budget plan as early as April after lawmakers cut the excise tax for alcohol by 28%.