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Vilius Šapoka, Minister of Finance. Photo by Judita Grigelytė (VŽ).
Lithuania needs to pay more attention to attract direct investment, because its flow is too small, says Finance Minister Vilius Šapoka. However, according to him, Lithuania has so far managed to avoid unsustainable investments.
“The level of investment in Lithuania has been too low relative to GDP for a long time. The flow of foreign direct investment is too small. That is a fact”, – on Wednesday in the Committee on Budget and Finance, discussing the plan stability program for 2020. program, said V. Šapoka.
According to him, it is not possible to compare the relationship between investment and GDP a decade ago and now.
“In itself, that percentage does not say much, we need to look more deeply, not only in the quantity of investments, but also in their quality. The real estate bubble and the relatively large size of investments a decade ago were the problem, not the desired result “, emphasized the minister.
However, V. Šapoka emphasized that during the economic growth of recent years we have managed to avoid the concentration of unsustainable investments in Lithuania.
At the end of last year, accumulated foreign direct investment in Lithuania amounted to LTL 18.2 billion. Eur: 6.7% more than in 2018. At the end of December it represented 37.6% of GDP.
Cumulative direct investment of Lithuania abroad in 2019 amounted to 4.2 billion at the end of. EUR.
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