Budget, EU – Baltic States, Financial Services, Funds, Lithuania

Rasa Budbergyte and Algirdas Butkevicius. Vilnius, 16.03.2015. Photo: lrv.lt

The prime minister was pleased that Lithuania was among the leaders in absorbing the EU funds. He said that the country should continue on the same level during the new funding period. Butkevicius agreed with the opinion of European Court of Auditors that the use of funding should be aimed at achieving a good end result. The prime minister added that the recommendations of the European Court of Auditors are always beneficial.

In turn, Budbergyte commended Lithuania's efforts to timely use allocated structural funds in the 2007-2013 financial period. By mid-2014 Lithuania was leading the EU with the absorption rate of 89 percent. According to the auditor, it is a high figure. Meanwhile it is considered that countries with low absorption rates tend to utilise funding less responsibly and less fruitfully at the end of the funding period.

Presenting the annual report on implementation of the EU budget, Budbergyte noted that EU Member States focused too much just on utilisation of funds while they should focus more on the end result.

The participants of the meeting supported the notion that the use of the EU funds has to be closely managed and controlled. The European Commission and the Member States should devote more attention to how they use tax payers' money.