Budget, Financial Services, Lithuania, Shadow economy

International Internet Magazine. Baltic States news & analytics Wednesday, 22.05.2019, 10:10

Lithuania's 2019 budget to get around EUR 200 mln ''out of shadow'', finmin says

BC, Vilnius, 24.10.2018.Print version
Lithuania's government plans to collect around 200 million euros in revenue from the shadow economy next year, the finance minister says LETA/BNS.

"A very similar amount to this year's is planed, around 200 mln euros," Vilius Sapoka told the parliamentary Committee on Budget and Finance on Wednesday.

According to the minister, the shadow economy is shrinking for natural reasons, including economic growth, but major progress has been achieved in this area by the State Tax Inspectorate.

"Those additional measures of fighting the shadow economy it is taking … are giving the result," the minister said.

Different surveys show that shadow economy accounts for 15-30% of Lithuania's GDP.

Search site