State budget

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After the second reading, the Lithuanian Seimas (parliament) backed next year's draft state budget which was revised by the Government. The revisions include reduced structural deficit and additional appropriations for education and internal security institutions.

The National Audit Office of Lithuania has issued a warning that the draft state budget for 2016 is on the verge of breaching fiscal rules and that Lithuania is not ready to counter financial shocks. Prime Minister Algirdas Butkevičius has dismissed the criticism and said that budget revenue figures...

After the Finance Ministry has submitted proposal for the 2016 state budget, which envisages a slightly bigger fiscal deficit than this year, the National Audit Office says this raises the risk for long-term sustainability of government finance. President Dalia Grybauskaitė warns that Lithuania migh...