Posts tagged as deficit

Lithuanian government presents 2021 spending bill with 5-percent deficit

Thursday, October 15, 2020

Lithuania’s state budget revenue, including EU and other international assistance funds, will be smaller in 2021, compared to this year’s budget, and expenses will grow. On Wednesday, the Lithuanian government approved the 2021 state budget bill submitted by the Finance Ministry. The document states that budget revenue will drop 1.3 percent next year to 11.385 billion euros. Meanwhile expenses are estimated to grow 21.2 percent to 15.49 billion euros. The…

Pandemic borrowing pushes Lithuania’s deficit to 8–9 percent of GDP

Thursday, October 8, 2020

Lithuania’s budget deficit will reach 8–9 percent of GDP this year due to increased borrowing during the pandemic, an adviser to the country’s president said on Thursday. The budget deficit was justified during the Covid-19 crisis due to the need to absorb shocks to the economy and retain jobs, Simonas Krėpšta, adviser to President Gitanas Nausėda, told LRT RADIO. In spring, the Lithuanian government upped the state’s borrowing limit to…

Estonia wants to avoid Greece situation

Wednesday, September 30, 2020

University of Tartu economics professor and chair of the budget council Raul Eamets says that while a budget deficit was a normal thing during the peak of the coronavirus pandemic, that for next year and the year after may be smaller, even though more difficult times may come, to avoid a situation where the cost of running the state is covered via loan money long-term. “We may [otherwise] find ourselves…

Nordica chair: 2020 deficit will be lower than €23 million forecast by EU

Tuesday, September 29, 2020

Board chair of troubled state-owned airline Nordica, Erki Urva, says that forecasts the carrier will be in the red to the tune of €23 million at the end of 2020 are based on outdated information, and the real situation will be better at year-end. A summary of the permit issued by the European Commission giving the go-ahead to a €30-million bailout for Nordica from the Estonian state, reported that the…