Vilius Šapoka EN

The Lithuanian government will next week unveil "unprecedented" measures to counter the shadow economy, Finance Minister Vilius Šapoka said on Thursday.

Lithuania's government on Monday decided to issue green bonds on the domestic market, with the first issue worth 68 million euros to be launched in late April.

Participation in the 2nd pillar of the pension scheme should be further encouraged, says Lithuania's Finance Minister Vilius Šapoka, citing payments made by employees and employers and the possibility redeem part of the income tax.

Lithuanian Prime Minister Saulius Skvernelis says that the government's proposed tax changes are primarily aimed at increasing people's income.

Lithuania and seven more countries in northern Europe on Tuesday warned against rushing with the ambitious integration of the euro zone in fields that are still lacking a unified position of European Union (EU) member-states.

Lithuania expect to receive in June an invitation to join the Organization for Economic Cooperation and Development (OECD), Finance Minister Vilius Šapoka said.

Lithuania's Finance Minister Vilius Šapoka says that the increase in excise duty on tobacco products starting Thursday may continue rising, however, excise on alcohol and oil will not go up in the nearest future.

Lithuania's Finance Minister Vilius Šapoka will attend meetings of the euro group and the European Union's (EU) Economic and Financial Affairs Council (ECOFIN) in Brussels at the beginning of the week, as well as meet with Austria's finance minister to discuss issues on the EU agenda.

Lithuania's parliament on Tuesday approved the 2018 budget, the first budget in the country's history with the government sector's revenue expected to top the spending, and Lithuania finally meeting its commitment to NATO of earmarking 2 percent of the gross domestic product (GDP) to defence.

Lithuanian Finance Minister Vilius Šapoka expects that the country will become a member of the Organization for Economic Cooperation and Development (OECD) next year.

Lithuania's Finance Minister Vilius Šapoka will be in Brussels on Monday and Tuesday to attend meetings of the Economic and Financial Affairs Council (Ecofin) of the euro group and the European Union (EU).

The release of the so-called Paradise Papers, a global investigation revealing offshore activities of some of the world's most powerful people and companies, has once again highlighted the need for coordinated global action to stop various tax schemes, Lithuanian Finance Minister Vilius Šapoka said.

Lithuania would not mind if the post-2020 European Union (EU) financial assistance would be linked with a specific country's performance in structural reforms, says Lithuania's Finance Minister Vilius Šapoka.

Guenther Oettinger, the EU commissioner in charge of budget and human resources, is to come on a visit to Lithuania on Thursday.

Lithuania formed a surplus 2018 state budget for the first time since regaining independence in 1990, says Finance Minister Vilius Šapoka, adding this is necessary amid fast economic development and the need to accumulate reserves for a rainy day.

Lithuania has submitted the 2018 budget draft to the European Commission (EC) and the euro group. Finance Minister Vilius Šapoka says the draft is in line with the national and European Union's (EU) fiscal discipline rules.