On 14 March, Minister of Finance Rimantas Šadžius met with President of the Nordic Investment Bank (NIB) André Küüsvek in Helsinki to discuss the possibility of the NIB contributing to the financing of defence-related investments in Lithuania.

The Government has approved the plan for drawing up a draft law on the approval of the budget for 2026-2028. The main changes compared to last year were the budget negotiations, which moved from autumn to summer, and the objective for ministries to reduce spending, thus contributing to ensuring adequate funding for defence.

After the economic recovery last year, the country's economic development is expected to reach 2.8% in 2025. Inflation will rise to 3.3% this year, but slow down next year. The unemployment rate is set to fall to 7.0% in 2025, while wage growth remains strong enough to reach 8.4%. This is foreseen in the updated Economic Development Scenario of the Ministry of Finance.

The Ministry of the Economy and Innovation (EIMIN) has submitted its conclusion to the Government on the amendments to the Law on Competition, which propose to give the Competition Council (CC) additional functions - to advise the economy and the public sector on competition law issues and to provide for the possibility of suspending the enforcement of a sanction imposed by the Competition Council decision in the course of litigation.

The Ministry of Energy, after reviewing the conditions for organising the offshore wind tender, which was announced in November 2024 and suspended in January this year, along with the related legal regulations, is now presenting amendments to the Law on Energy from Renewable Sources for public consultation. These amendments aim to ensure that the offshore wind park provides the greatest possible benefit to consumers, does not negatively impact onshore wind turbines, and makes the project attractive to potential investors. Additionally, the proposed changes foresee greater benefits for residents, an expanded list of supported communities, and an overall reduction in the project’s cost by about 500 million euros.

Minister of the Economy and Innovation Lukas Savickas has approved the renewed composition of the Board of the Innovation Agency.

The Minister of the Economy and Innovation, Lukas Savickas, is submitting to the Government for consideration a draft law proposing the establishment of an Ombudsman Institute for Small and Medium-sized Enterprises to deal with complaints from small and medium-sized enterprises. The draft law aims to strengthen the protection of the rights and legitimate interests of business entities in Lithuania and to improve the legal environment for the sustainable development of SMEs.

In view of the financial burden that the purchase of smart cash registers will place on small businesses, the Ministry of the Economy and Innovation (EIMIN) has asked the Ministry of Finance to consider the possibility of partially reimbursing these costs. Specific proposals have also been made to help small businesses adapt to the planned legislation.

Minister of the Economy and Innovation Lukas Savickas, as a member of the Seimas, has submitted an initiative to the Seimas to further reduce the excessive regulatory burden on businesses and citizens. The Minister proposed to introduce the one-stop shop principle of the START programme into the amended Law on Public Administration. She also proposes to introduce a scoreboard to monitor deadlines for public services.

The Ministry of the Economy and Innovation (EIMIN) will provide more than €16.27 million for infrastructure projects that will help create a more attractive business environment for municipalities and encourage investment. Municipalities are invited to apply by 19 March this year.