Budget, Financial Services, Lithuania

International Internet Magazine. Baltic States news & analytics Thursday, 25.04.2019, 21:21

Lithuanian government okays improved draft budget for 2019

BC, Vilnius, 04.12.2018.Print version
The Lithuanian government approved on Wednesday an improved draft budget for 2019, allocating additional funds for municipal budgets and educators' salaries, informed LETA/BNS.

The draft plan projects a total of 10.59 bn euros in central government budget revenue (including EU and other international support), up by around 3.5 mln euros compared with the initial proposal, and 11.696 bn euros in expenditure, up by 14.8 mln euros. 

This leaves a budget deficit of 1.106 billion euros, up by 11.3 mln euros. 

"The Cabinet of Ministers proposes to increase municipal budgets' revenue from the personal income tax by 3.4 mln euros and, according to agreements with education trade unions, to raise by 10 % pre-school educators' salaries," Finance Minister Vilius Sapoka said in a press release.   

"The key priorities for next year's budget remain unchanged. The focus will be on six structural reforms, with the largest increases in spending being on education and science, and health and social security," he added.  

The improved draft state investment program for 2019 through 2021 earmarks 1.104 bn euros for public capital investments, including 711.2 mln euros in EU assistance money.   

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