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All the experts (Finance Minister Gintarės Skaistė, Director of the Lithuanian Social Research Center Boguslav Gruževskis, President of the Lithuanian Free Market Institute (LFMI) Elena Leontjeva, Chief Economist of Swedbank Nerijus Mačiulis, CEO and entrepreneur of the construction company Hanner Arvydas Avulis and the Investor Forum (CEO Rūta Skyrienė) full information on what life will be like in 2021 can be read here.
Possible investment boom
Speaking of the optimistic scenario, the LFMI president explained that after the virus subsided, the service companies could start operating, which would also mean a movement and a recovering social life.
“It just came to our attention then. Public authorities will remember that they only administer EU funds for the Lithuanian people, and they will reach businesses at a speed suitable for an ‘ambulance’, not a hearse.
“Invega, VIVA, VIKA and other institutions will take low interest rates from companies, offer long terms and otherwise guarantee the availability of credit,” he said, explaining that all sectors of the economy would experience a strong rebound in the second quarter. of the year.
“The year would end with GDP growth much higher than expected,” Leontjeva predicted.
According to her, the optimistic scenario could become a reality if, at the latest from the Three Kings, the implementation of the values declared in the elections in the state institutions begins.
“All those in power will join Lithuania in the fight for survival, save budget money and the miraculously released deregulation DNA gene will” reprogram “the state apparatus to serve and respect citizens,” he said.
According to the LFMI president, it is very important that the country’s leaders also agree that high-quality public services can contribute to Lithuania’s competitiveness, which, as they said, would help ensure that global companies that wake up after from the crisis invest heavily in Lithuania. creating the most productive jobs.
“Let’s dream: Silicon Valley envies us for cool jobs and City envies wages. Sodra’s revenues and state budgets are growing thanks to the benefits of tax cuts. Once this correlation is recognized, a decision will be made to continue reducing taxes from consistently. A pandemic will return us to the search for meaning, people will need more and more intangible values. Arts and culture will flourish, Lithuania will become a mecca for culture, “he said.
There will be a fast growing crisis
In the worst case, according to Leontjeva, it could also happen that Europe turns its back on the path of economic nationalization, and many companies would then seek refuge abroad. However, as has been said, it can be expected that in such a case Lithuania and other Baltic countries will have the opportunity to become a safe haven for many companies.
“If the conditions to invest and operate are improved, as promised in the government program, such an investment boom is likely that we will face a crisis of rapid growth. The growth that everyone longed for will start to scare us all. Wages will grow strongly and there will still be a shortage of labor, “he explained.
In his opinion, this could boost the development of private qualifications and other educational initiatives in Lithuania.
This would mean that companies would start offering “long-term employment contracts” on extremely favorable terms and the work culture would compete.
As information spreads rapidly around the world, Lithuania will become a place of attraction for talent, ”said E. Leontjeva.
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