Budget, Financial Services, Lithuania, Society

International Internet Magazine. Baltic States news & analytics Monday, 23.10.2017, 22:00

Lithuania's 2018 Sodra surplus projected at EUR 218 mln

BC, Vilnius, 06.10.2017.Print version
The budget surplus of Lithuania's social insurer Sodra is expected to reach 218 million euros in 2018, seven times the surplus planned for this year, Verslo Zinios business daily said, cites LETA/BNS.

According to the 2018 Sodra budget draft, the state-run social insurer should collect 4.23 billion euros in revenue next year, while expenditure should total 4.012 billion euros. Sodra projects that the 2019 revenue will be 210 million euros above spending, climbing further to 41.8 million euros in 2020. In 2018, the social insurer expects to receive 132.7 million euros from the state budget for compensation of the general share of pensions due to the 1-percent decrease in the social insurance pension payment tariff. Next year, average old-age pensions should grow by about a tenth.

 

The 2017 Sodra budget suggests that revenue should reach 3.739 billion euros and spending should stand at 3.707 billion euros, putting this year's surplus at 31.55 million euros. However, results for the first half of this year shows that the Sodra budget is doing far better than planned, with revenue exceeding the target by 11.7% and spending by 5.8%. Sodra chief Mindaugas Sinkevicius projects the Sodra revenue to be about 100 million euros above spending this year.






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