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General News    H3'ed 3/31/22

Economic issues are not a priority in Lithuania

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Message Antanas Tubelis

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Inflation in Lithuania is 15%. A rapid rise in prices is associated with this. According to Lithuanian President Gitanas Nauseda, the rise in prices for bread, potatoes, other vegetables and fruits cannot be stopped. At the same time, 65% of the population of Lithuania do not have any financial savings

There are doubts that the Government will agree, following the example of Poland, to reduce the value added tax (VAT) for food products. Poland reduced it from 15% to 5%, and completely canceled it for essential products. In Lithuania, the tax is 21%.

According to the experts, if the Government does not take preventive measures, then from July 1, electricity for household users will rise in price by 50%, gas - by 100%, heating housing in apartment buildings - by 200%.

In agriculture, the situation is also very difficult. There is a rapid rise in grain prices. As of mid-March, it costs 400 euros per ton. Food prices could triple by August 2022.

Due to the rapid rise in prices for gasoline and diesel fuel, transport has faced serious problems. Orders for transportation decreased by 50%. Transport companies leave Lithuania for Poland, the Netherlands, Belgium and Germany. It is very difficult to make money on transportation in Lithuania, taking into account inflation.

Life in Lithuania is getting more complicated every day. Salt, matches, cereals, pasta and inexpensive canned fish and meat are in short supply. With inflation at 15% and unemployment at 10%, the Lithuanian economy expects a negative outlook. If the Government does not take the necessary measures, the economy will stagnate.

However, not being independent in decision-making, the Government and the Seimas are not very interested in the economy. Their main priority is the military sphere. At the spring session of the Seimas of Lithuania, which started on March 10, it was immediately decided to increase defense spending by 300 million euros. This year the military budget for the first time has exceeded 2.5% of GDP and this is not the limit.

The Seimas also has other important issues: the law on same-sex partnership, as well as the law on the decriminalization of small doses of drugs.


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Born in Kaunas in 1981

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