"Of course, we need to know the possible losses. No one can tell how much could be lost exactly. We are concerned not only about possible Russia's actions, but also about Ukraine's market, since exports to Ukraine are suspended due to payments. According to our preliminary calculations, in a worst-case scenario we would lose LTL 0.5 billion (EUR 144 million) from the budget and about LTL 3 billion (EUR 866 million) of GDP," said MP Bradauskas after the sitting of the Committee on Budget and Finance on Wednesday.
The sitting of the Committee focused on possible decrease in budget income and forecasts for GDP growth under extreme conditions.
Based on Bradauskas' estimates, loss of GDP would account for 2.4-2.5% and it will amount to approximately LTL 3 billion (EUR 866 million). The chair of the Committee says that this was calculated both by the Bank of Lithuania and the Ministry of Finance.
According to Bradauskas, this is not a large amount; however, "it is necessary to be aware of it and to have an action plan."
The chair of the Committee is mostly concerned about transport sector, food industry and energy safety.
"The most serious losses are possible in the area of transport, freight transport may be stalled," said MP Bradauskas.
The politician assures that there are no threats to the introduction of the euro. "There are no threats to the adoption of the euro. We comply with the Maastricht criteria, I think the euro will be definitely introduced," said the chair of the Committee.
