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In his social account, the President welcomed the Seimas’ decision.
Today, the Seimas approved my veto on the amendments to the Highway Law. The objective of the veto was to promote the reorganization of the Lithuanian Highway Administration, but without politicizing its management.
I applaud this decision of Parliament in a broader context. The notion that the majority of the LAKD board should be public officials could set a dangerous precedent for the future and frustrate the implementation of good governance practices in our country.
Since the beginning of my tenure, I have supported the establishment of a state development bank or fund, although I remain skeptical of the state’s penetration into other business sectors (pharmacies, commercial companies, etc.), “wrote G. Nausėda.
Furthermore, G. Nausėda added that the idea of a state bank is attractive and worth implementing.
“The idea of the State Bank is attractive and feasible for at least three reasons: 1) it creates opportunities for the effective implementation of the state investment policy, which in the new financial perspective of the European Union will determine the qualitative renewal of the Lithuanian economy ; 2) a state-owned bank, unlike a commercial bank, has the ability to follow a genuine countercyclical policy and to support businesses during a recession, rather than acting procyclically by “turning on the taps” when funds are most needed; 3) revitalize credit for small and medium-sized companies, which has recently become less accessible, and provide opportunities for promising companies to grow and establish themselves in new markets.
Of course, the State Development Bank or the National Fund, as we call it, should not build Snoras kiosks in all municipalities in the country. Retail banking operations, although they are important services, should not be the scope of said bank, ”said the head of state.
The President also added that if Seimas had rejected the veto, there would be more risks.
“If Seimas had rejected the veto today, the risks and fears about the future state bank would be much greater. The worst thing that could happen and discredit the idea itself is the bank’s politicization, forcing it to comply with the rules imposed by politicians. .
The state should implement its strategy through a professional and independent board of the bank, as this would only prevent the repetition of the infamous history of the Commercial Bank of the State of Lithuania. I hope that this Seimas and the Government take a great step towards the implementation of the vision of the National Bank.
Already next week, the Presidency is organizing a high-level expert discussion on the subject of the National Development Bank, in which the Executive Director of the International Monetary Fund Kristalina Georgijeva will also participate, “said G. Nausėda.
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