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On Tuesday V. Šapoka presented an updated economic review of Lithuania to the Government. According to the minister, in May, compared to April, it can be seen that the country’s economy is beginning to recover.
“April, which was inevitably affected by the pandemic, was especially difficult for the Lithuanian economy and truly unappreciated by the economic performance. However, in May, despite high uncertainty and, of course, future risks, there are signs economic recovery. The numbers are still not happy, but the trend is positive and this is what we need the most at the moment, “V. Šapoka told reporters.
The labor market situation is improving
According to the minister, positive signs are seen in the labor market, where the situation is gradually stabilizing.
“Since the end of April, there has been a slowdown in the growth rate of the registered unemployment rate. In the last four weeks from April 27 to May 24. 12,3 thousand were registered. Vacancies, that is to say and .60 percent more than the previous four weeks. There are also more job offers, “said V. Šapoka.
Vilius Šapoka
The ministry also notes that the expectations of economic participants and residents regarding their own economic situation and that of the country are improving.
“Business and consumer expectations are improving. The general confidence of economic participants (producers, consumers and investors) in the Lithuanian economy in May, compared to April, improved slightly, but by 2%. Points. The index Confidence levels increased 7 percent.
The mood of the population is improving. Although the consumer expectations index was even worse than a year ago, the population was more optimistic about their future financial prospects, “said V. Šapoka.
Put less money in the budget
According to preliminary data, state budget revenue in May was around 30 percent. lower than expected and around 20 percent. (just over 150 million euros) less than in May 2019, says Finance Minister Vilius Šapoka.
“The situation is also beginning to stabilize here, by comparison, more than 32 percent was received in April. Less than expected and around 30 percent. Less than a year ago,” said V. Šapoka.
According to him, according to preliminary data, during the five months of this year, the income of the state budget was approximately 15.2 percent. less than forecast and around 8.1 percent. (almost EUR 280 million) less than in January-May last year.
EC hopes
However, the Minister is satisfied with the new proposal from the European Commission to Lithuania. Of the € 750 billion proposed by the European Commission. Lithuania can expect € 6.3 billion in the recovery fund. euros With the Commission initiative mentioned above, the financial capacity of the new EU budget in the long term would reach 1.85 trillion. euros
“Of course, those amounts are subject to change due to difficult negotiations on the allocation of funds. It is expected that a political agreement will be reached in the summer and that all the necessary legal acts will be harmonized by the end of the year,” added V Šapoka.
State budget revenue approved for 2020 (excluding EU funds) amounts to 9,548 million. 11,530 million euros with EU funds. euros
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