Banks, Financial Services, Lithuania

International Internet Magazine. Baltic States news & analytics Wednesday, 08.04.2020, 21:25

Lithuania to decide future of its loss-making mint

BC, Vilnius, 14.02.2020.Print version
Lithuania is set to decide the future of its loss-making mint, with a study expected by the middle of this year to show whether this state enterprise could be salvaged, according to the Verslo Zinios business daily information writes LETA/BNS.

"We cannot wait any longer. We are now defining the conditions for the feasibility study to decide on the mint's further operation. There are many options on the table, including privation or splitting it up by selling its real estate or the business. I believe we will have specific proposals to the shareholder after this study," Linas Cereska, the mint's board chairman, told the daily.

The mint posted a loss of 42,500 euros in 2018, and the pre-tax loss rose to 0.5 mln euros in the first half of 2019. There's an ongoing audit of the total 219 results but the year was ended with a loss, Cereska said.

The State of Lithuania owns 100% of the mint, managed by the central Bank of Lithuania. 

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