Mar 18 โ€ข 12:48 UTC ๐Ÿ‡ฑ๐Ÿ‡น Lithuania Lrytas

The government approved the plan for next year's budget: negotiations are set to begin in the summer

The Lithuanian government has outlined its approach for preparing next year's budget, with negotiations expected to start in the summer.

The Lithuanian Ministry of Finance has announced a framework for the preparation of the national budget for the upcoming year, indicating that there will be minimal amendments required for the budgets of 2027 and 2028, which were approved last December. This stability in budget planning is attributed to the framework allowing various ministries and institutions to submit requests for resource allocation adjustments, especially in light of rising social benefits and the minimum monthly wage.

In an important development, the finance minister stated that this will be the third consecutive year the state budget will be drafted, fostering more stability when planning the countryโ€™s finances. However, he did note that adjustments could still be made if necessary, particularly in response to unforeseen events such as emergencies, changes in budget revenues, or economic forecasts, which could warrant variations in planned budget expenditures.

The finance minister also clarified that expenditure limits for each year should only be modified under exceptional circumstances, adhering to the stipulations of a set growth cap for net expenses. This ensures that fiscal discipline is maintained while allowing for flexibility should the need for additional international assistance arise or if significant changes to the economic situation occur, thereby ensuring that the financial planning remains relevant and reactive to the country's needs.

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