The call focused on economic development projections for Lithuania and the world as well as on the IMF’s view of the economic impact of the pandemic on the region. Projections show that in Lithuania economic recovery should begin in the second half of this year.
“In Lithuania, the pandemic is stabilizing. Therefore, our current priority is to enforce economic measures aimed at leading the country out of the crisis. According to the IMF data, the crisis will not affect Lithuania as severely as in 2009. This is mostly due to Lithuania’s membership in the euro zone that guarantees greater financial stability and relatively low borrowing costs and also because Lithuania was in good economic shape before the crisis broke out. It will allow for a more rapid return to the pre-pandemic level of economic development,” the President said.
Among the other issues discussed was the national fiscal stimulus package and effective plans to revive the economy.
View were exchanged on the regulation of prices in Lithuania. IMF representatives pointed out that price regulation was an inappropriate instrument because it distorted the market balance, sent misleading signals and usually produced a negative impact on the supply of goods and the functioning of national economy.
