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Income inequality is projected to reach 5.8 in 2021. That is 20 percent. the richest people in the country will have 5.8 times more income than the 20 percent who live in the poorest.
The last time income inequality was this low was in 2012, when the ratio was 5.3.
The Minister of Social Security and Labor, L. Kukuraitis, says that income inequality, like relative poverty, decreases during crises.
“It is difficult to reduce them in the conditions of growth, because the rich obtain value from economic growth,” the minister told reporters on Wednesday, presenting the work done during the legislature.
The income inequality rate in 2015 was 6.4, in 2018 – 7.1.
At-risk-of-poverty rates should also decline.
In 2018, it reached 20.6 percent, and in 2019-2020 it should drop to around 18 percent, the ministry predicts.
Not deciding on a career
The minister won the parliamentary mandate in the first round of the Seimas elections last Sunday, but has not yet decided on the political future.
“I don’t want to say anything about the mandate, let’s wait for the second round, we will see trends,” L. Kukuraitis said.
Photo by Julius Kalinskas / 15min / Linas Kukuraitis
He claimed that he had agreed to participate in the Seimas elections with the ruling “peasants” because he wanted to strengthen the party’s ability to form a new government.
When asked if this means that he will resign if he has to work in the opposition in the new Seimas, L. Kukuraitis said: “We cannot design this way yet.”
“After the second round, when we see the political situation, we will have to decide,” said the minister.
After the first round of the Seimas elections, L. Kukuraitis rose to eighth place on the list of “peasants” in a multi-member constituency and won the mandate of a member of the Seimas.
He was 18th on the list before the election.
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