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Wages in Lithuania to see less increase than planned

  • 2011-12-30

VILNIUS– Lithuanian Prime Minister forecasts that wages will increase in 2012, yet, they will grow to a lesser extent than had been projected. According to him, a modest rise will be determined by the euro zone situation,reports LETA/ELTA.

“As our forecasts suggest, wages are to increase next year, however, not that much as we expected back in September. The forecasts were updated because of the euro zone crisis,” Kubilius said.  

“It is quite hard to predict how the EU situation is going to develop; some are talking about even a graver crisis. Our public budget with a 3 percent deficit lets us think that Lithuania is basically ready to withstand even a challenge as big as that,” the PM said to the National Televisionon Dec. 28.

The Finance Ministry had forecasted that wages should go up by 2.5percent in 2012 and by 4.5percent in 2013.