Lithuania can increase public spending by an average 6 percent a year beginning in 2014 and still have a balanced budget by 2016, Finance Minister Ingrida Simonyte said, citing growth forecasts and European Union aid.
Lithuanian state-owned enterprises should give half of their profits to help trim the budget deficit below the European Union limit of 3 percent of economic output next year, Finance Minister Ingrida Simonyte said.
Lithuania will overhaul its 300 state-owned companies and prepare them for sale to narrow the budget deficit as the Baltic nation looks for ways to rebound from the European Union’s second-deepest recession.
Greece’s debt crisis and slower global growth may buoy Lithuania’s bid to adopt the euro in 2014 as falling commodity prices make it easier to meet inflation limits, Finance Minister Ingrida Simonyte said.
Lithuania will provide details on the usage of European Union funds in 2010 to reverse the suspension this week of regional development aid to the Baltic nation, Finance Minister Ingrida Simonyte said.