K. Vaitiekūnas, a member of the Lithuanian Parliament, recently stated that the Government has officially withdrawn its proposal to increase the cash payment limit from 5,000 to 15,000 euros. This decision was influenced by objections from law enforcement institutions, which raised concerns about the potential increase leading to greater risks for financial crimes. As a result, discussions about this increase have been halted for the time being.

The origin of this proposal stems from a suggestion made last year by Remigijus Žemaitaitis, the chairman of 'Nemuno aušra', to triple the cash payment limit. However, this initiative faced opposition from the Ministry of Finance, which later introduced an alternative proposal to raise the limit to 10,000 euros. In the current political landscape, opposition lawmakers are now proposing a reduction of the cash payment limit to 3,000 euros as a strategy to combat the shadow economy, highlighting a growing concern regarding unregulated financial transactions.

Finance Minister K. Vaitiekūnas expressed that maintaining the existing limit was more reasonable, indicating a preference for stability in financial regulations rather than controversial changes that could exacerbate existing challenges in monitoring cash transactions. The ongoing debate showcases the balancing act the Government faces between promoting financial freedom and addressing the potential risks associated with cash-based transactions in the economy.