Analytics, Budget, Financial Services, Legislation, Lithuania, Taxation

According to the prime minister, budget collection results in January have been positive, but it is too early to talk about, for example, reducing VAT by at least 1%.

"I do not believe that we will be submitting draft tax laws now. We are monitoring the geopolitical situation and external effects on our economy," the prime minister said after the Government's sitting on Wednesday.

Butkevicius said he met with experts of economy on Tuesday who provided Lithuania's economic growth projections which varied by 1-3%. Therefore, it should not be rushed with tax amendments. Butkevicius emphasised the necessity to redistribute public finances so that wages may be increased.

"Perhaps we can talk more specifically about this in June, July," said Butkevicius and added that sudden and uncalculated decision must not be taken.