Lithuania’s success

The International Monetary Fund has called Lithuania “a rising star of the region” because of its fast economic development, whereas Mr. Lezek Balcerowitz, Head of Poland’s Central Bank, says Lithuania is a real Baltic Tiger. Mr. Balcerowitz also praises Lithuania for considerably lowing taxes while keeping the budget stable. He thinks that Lithuania’s success is based on budget discipline, stringent public spending and cosnistent structural reforms. The growth of our economy is very rapid indeed, with the GDP growth rate of 6.7% in 2002 and the same rate forecast for this year”, said Mr.Algirdas Brazauskas, Prime Minister of Lithuania . The average GDP growth in other Central and East European countries was 2.4% in 2002.