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

EU27 deficit in trade in goods with China of 170 bn euro in 2008

Between 2000 and 2008 EU27 trade in goods with China more than tripled in value, with EU27 exports to China rising to 78 billion euro in 2008 compared with 26 bn in 2000, and imports rising to 248 bn from 75 bn. more »

Euro area external trade surplus 0.4 bn euro

The first estimate for the euro area (EA16) trade balance with the rest of the world in March 2009 gave a 0.4 bn euro surplus, compared with -2.3 bn in March 2008. more »

AB Bank SNORAS distributes two emissions of the fixed interest bonds

On May 18 this year, AB Bank SNORAS begins to distribute two emissions of one-year fixed interest bonds. more »

DnB NORD Bankas revises deposit rates

Taking into account changes on international and domestic money markets AB DnB NORD Bankas, a member of international financial group, has changed time deposit rates for individual customers. more »

Sri Lankan army claims victory

The 25-year Sri Lankan civil war looks to be in its final throes. more »

UK lawmakers in claims row

The sheer scale and nature of taxpayers' cash claimed as allowances by Britain's lawmakers has stunned the nation. more »

Commission sends formal request to Lithuania concerning contract for modernisation of railway radio communication system

The European Commission has decided to send a formal request to Lithuania regarding the award of a works contract by Lithuania Railways for the modernisation of the railway radio communication system through the introduction of a GSM-R system. more »

Economic crisis: the European Parliament's response

The speed and depth of the financial crisis has been brutal and over the last year MEPs have been hard at work on a two-fold approach to the crisis. more »

UniCredit announces its “Green Deal”

The Group commits to reducing its CO2 emissions by 30% by 2020 supporting the “20-20-20” goal set by the EU. more »

SNORAS Spyker Squadron team was the fifth to finish Le Mans Series

This weekend, in the second round of Le Mans Series championship on SPA track, in Belgium, SNORAS Spyker Squadron team that participated there took the fifth high position. more »