The consolidated account management system of the State Treasury implemented by the Ministry of Finance gives the possibility of centralised management of public funds, ensuring their effective management, use, additional control of funds and the unified execution of payments. Currently, 229 out of almost 500 budgetary and public bodies have accounts with the State Treasury, which must be transferred to the new system in accordance with the Law on State Treasury. While, the remaining bodies will gradually join the scheme by 2028.

Following strong interest and innovative solutions from businesses, the Ministry of the Economy and Innovation is launching a further call to promote the development and deployment of environmentally friendly products or technologies. The call is aimed at small and medium-sized enterprises operating in non-industrial sectors that develop and implement green innovations, and will provide up to €50,000 in support.

After a soft landing last year, the national economy is expected to take off 1.7 % in 2024. Inflation will continue to slow down from 8.8 % last year to 2.8 % this year. The unemployment rate should remain stable in 2024, while the wage growth should be fairly rapid and exceeding 7.5 %. This is foreseen in the updated Economic Development Scenario of the Ministry of Finance.

Minister of Finance Gintarė Skaistė assessed the third year of the term of office unsparing of challenges and uncertainty, though allowing not only to pursue necessary changes in a targeted manner, but also to implement projects of strategic importance.

The Seimas unanimously approved the draft amendment to the Law on Personal Income Tax submitted by the Ministry of Finance, following which from 1 January 2024 the maximum applicable non-taxable amount (NTA) is increased by 20 %, up to EUR 747. According to Minister of Finance Gintarė Skaistė, the approval of the Ministry's proposal by the Seimas will allow those earning the minimum monthly wages (MMW) to receive by EUR 75.2 higher net monthly income next year, or by EUR 902.4 more per year.

The Ministry of the Economy and Innovation has finalised a plan for EUR 1 billion to boost the country’s economy and create more opportunities for Lithuania. In total, more than EUR 957.5 million of calls have been launched. Almost 3,000 business representatives have already applied for financial instruments.

The distribution of the fifth issue Government savings notes (GSN) ended on Monday, where residents purchased GSN for EUR 12.7 million and 1,020 transactions were made. Residents will be paid 3.8 per cent of annual interest on this new one-year GSN issue.

From the beginning of 2024, Lithuania will move towards a model of governance of state information resources that is in line with modern trends in information technology management and development. It will help our country to more effectively implement the necessary changes required for the digital transformation of the public sector. This is confirmed by the new version of the Law on State Information Resources Management, drafted by the Ministry of the Economy and Innovation and approved by the Seimas.

The Ministry of Economy and Innovation announces an additional call for €10 million for Lithuanian industry to implement renewable energy sources.

This year, 50 auctions were held in Lithuania, during which EUR 1.94 billion was borrowed in the domestic market. The Government Savings Notes (GSNs) were issued in the amount of EUR 163.7 million during the first four issues. The most popular were the issues of Government Securities (GS) with residual maturity of up to 4 years, the issues totalling EUR 935 million. The results and trends of this year's auctions and next year's borrowing plan were discussed on Wednesday at the annual meeting of the experts from the Ministry of Finance and representatives of the Lithuanian GS auctions, Nasdaq stock exchange and depository, and representatives of the Bank of Lithuania.