The EU member countries submit the document with the latest information on the planned and implemented budgetary and fiscal policies to the European Commission.
Government sector expenditure cuts and tax administration improvement are planned in order to meet structural general government balance targets.
The convergence programme projects a negative general government balance indicator in 2014-2015 (i.e. expenditure will exceed revenue) and will stand at 1.9 and 0.9% of GDP respectively.
Implementing the cautious fiscal policy, the balance in public finance in 2016-2017 is projected to result in surplus and will stand at 0.1 and 1.1% of GDP respectively.
Lithuania has also committed to implement budgetary policies ensuring economic growth, employment growth, reduction of poverty and social exclusion. The policy will improve investment and business environment and create preconditions for the real salaries to increase.
In 2014-2017 salaries are projected to grow by 5.8-6.9%, while the situation in labour market will continue to improve rapidly. Unemployment is projected to drop to 10.5% in 2014, and in 2015-2017 is expected to stand at 9, 7.8 and 6.5% respectively.
