The electricity system operators of Lithuania, Latvia and North-East Germany, namely, Litgrid, Augstsprieguma tīkls and 50Hertz, are submitting a joint application for the inclusion of the Baltic Hub hybrid offshore electricity interconnection project in the 2026 Ten-Year Network Development Plan (TYNDP) of the European Network of Transmission System Operators for Electricity (ENTSO-E). Litgrid is also submitting two other international projects: a project submitted jointly with Poland, Latvia and Estonia to synchronise the Baltic countries with the continental European networks, and a project to expand the capacity of power transmission with Latvia.

The Ministry of Finance has prepared a publication "General Government Debt 2024", which provides a detailed annual overview of Lithuania's borrowing - the level and structure of debt, borrowing instruments, loans on-lent by the state, and guarantees provided.

At the meeting of the Council of Economic and Financial Affairs Ministers (ECOFIN) of the European Union (EU) on 13 May, agreement was reached on the directive on value added tax (VAT) rules for distance sales of imported goods. The directive aims to modernise the EU VAT system to make it more business-efficient and fraud-proof, with the final VAT on imports being paid by the seller or the operator of the selling platform.

On Wednesday, the Government approved amendments to tax laws proposed by the Ministry of Finance, which were updated by the ministry after examining proposals from more than 200 associations, individuals, lobbyists and institutions. Compared to the original version of the tax changes, the drafts regulating personal income tax (PIT), immovable property (IP) tax and excise duties are amended.

On 12-13 May, Minister of Finance Rimantas Šadžius will participate in the meetings of the Eurogroup (EG) and the Council of Ministers for Economic and Financial Affairs (ECOFIN) of the European Union (EU) in Brussels. The meetings will focus on the Security Action for Europe (SAFE) and assistance to Ukraine.

As the aviation summer season kicks off at the end of March, traditional airlines will play an even greater role in enhancing Lithuania’s air connectivity. Travelers from Vilnius, Kaunas, and Palanga airports will have access to nearly a hundred destinations, offering more convenient travel options across Europe and beyond.

After the submission, the Seimas approved draft laws prepared by the Ministry of Finance that would impose an obligation on crypto-asset service providers to provide the State Tax Inspectorate (STI) with information on their crypto-asset users. These amendments would facilitate the fight against tax fraud, tax evasion and tax avoidance at EU level.

The Government has approved the proposals of the Ministry of Finance to modify the plan “New Generation Lithuania” (NGL). The modifications will allow for a better management of the implementation risks of the NGL plan and ensure that the responsible ministries can implement the planned investments and reforms on time by the end of the eligibility period of the Recovery and Resilience Facility (RRF) in August 2026.

The Ministry of the Economy and Innovation, together with the Innovation Agency, presents the "Vytis" initiative aimed at strengthening the country's defence industry capabilities, promoting innovation and increasing international competitiveness. 300 million euros have been allocated for the implementation of the initiative.

The Nordic Investment Bank (NIB) and the Republic of Lithuania have signed a EUR 400 million uncommitted credit facility for national defence system investments during 2025–2027.