Finance of Lithuania is a Zone of Disaster!

Published: 14 July 2000 y., Friday
E.Kuniavichene, "moderate" conservative, has shared her attitude on the Lithuanian budget: tax collection was 26 % lower than it was in the similar period of 1998 in June. We of course go back to 1998 not by accident: vagnorists then were in zenith of authority. And the national economy, as they consider nowadays, was in zenith of prosperity; but soon the Russian crisis came and spoiled everything.

40 % increase in unemployment and 3 billions Lt of internal budget debt are all the result of the “new policy”. Taking into account this debt total liabilities of the state reach 36 % from GNP. The country is inclined to the level of 1995-96. If during four years of a cadence the left have saved up debt of 7 billion, the followers G.Vagnorius during one year have added 3,5 billion to it." Having such statistics it is possible to declare that the finance of the country is a zone of disaster and to give the name of Disastrous policy the New policy,” E.Kuniavichene thinks.

The present cabinet is continuing a rigid fiscal policy and "notorious liberalization" by that was started by R.Paksas and the refusal of which might be the reason of such a pitiable position. Thanks to G.Vagnorius’s "severe actions" and fines that are imposed and flying checks, during one and half year of his board the average salary has grown half as much again and 38 thousand new workplaces were created.

According to her, the strategy A.Kubilius has offered has nothing in common with economy. Economy is refusal of unnecessary charges. However, reduction of pensions and grants, of salaries to teachers and doctors is not economy, but reduction of financing, which, in its turn, leads to reduction of tax proceeds. Under such circumstances intention of the government to mitigate penalties for malicious tax evasion twice must be considered as full capitulation before smugglers with which G.Vagnorius struggled so vigorously, - E.Kuniavichene thinks.

Facebook Comments

New comment


Captcha

Associated articles

The most popular articles

Simulation technology could help prevent future financial crises

How will economic policies adapt in 2020 when a quarter of the EU population is over 65? Can economics better predict how banks will react to credit crunches in the future, and what their impact will be on the wider economy? more »

EBRD supports one of the first modern food retail chains in Turkmenistan

The EBRD is supporting the development of one of the first modern food retail chains in Turkmenistan with a $1.9 million equity investment in Ak Enar. more »

Ukrainian electricity to be supplied to Lithuania without intermediaries

While on a working visit to Ukraine, President of the Republic of Lithuania Dalia Grybauskaitė has underlined that Ukraine might become a very important energy partner for Lithuania and for the whole European Union but only transparent and open relations will lead to success in this area. more »

Cooperation between the Nordic Investment Bank and Lithuania was discussed in Vilnius

On 25 November in Vilnius, Lithuania’s Vice-Minister of Foreign Affairs and President of the Nordic Investment Bank discussed the issues of the Northern Dimension Partnership on Transport and Logistics (the secretariat of which is being established at the Bank), issues of the NIB cooperation with Lithuania and perspectives of the NIB’s activities in the country. more »

EBRD adopts new Russia Strategy for 2010-2012

The European Bank for Reconstruction and Development has adopted a new strategy for the Russian Federation. more »

Made in where? MEPs want clear rules on origin marking

Consumer protection requires transparent and consistent trade rules, believe MEPs. more »

EIB provides CZK 2 billion for regional infrastructure in South Moravia (Czech Rep.)

The European Investment Bank (EIB) is lending CZK 2 billion (approx. EUR 76 million) to the South Moravia Region for co-financing the Region’s priority infrastructure projects supported by the EU Structural and Cohesion Funds over the period 2007 – 2013. more »

Israel-Lithuania Chamber of Commerce Established

Seeking to strengthen business partnership between Israel and Lithuania the Israel and Lithuania Chamber of Commerce has been recently established in Lithuania. more »

Dr. J.Titarenko appointed as Chief Financial Officer of Bank DnB NORD Group

AB DnB NORD Bankas, notifies that on 24 November 2009, the member of the Management Board and Executive Vice-president of AB DnB NORD Bankas dr. Jekaterina Titarenko has been appointed as Chief Financial Officer of Bank DnB NORD Group. more »

Financial aid for Serbia, Bosnia, Armenia and Georgia

Parliament gave its backing on Tuesday for €400 million-plus in budget aid to Serbia, Bosnia and Herzegovina, Armenia and Georgia. more »