In terms of economic growth rates over the past decade, Lithuania was the biggest winner among the Baltic States, SEB Bank's macroeconomic expert Dainis Gašpuitis points out.
Lithuania can look forward to good growth this year with the gross domestic product expected to rise by 5.8 percent, but it won't all be smooth sailing over the next few years, financial analyst Rimantas Rudzkis warned.
Nine out of ten branches of SoDra (State Social Insurance Fund) throughout Lithuania are deemed to be technically insolvent. Analysis of the regional offices shows that in 90% of regions there are more pension beneficiaries than there are active workers.
The current Chairman of the Board of the Lithuanian Bank, Reinoldijus Šarkinas has tendered his resignation to be effective 15 April. Šarkinas has reached the end of his five year term, and in fact Seimas had to ratify an extension until 15 April as it was a few months more than the specified five years.
The president of Lithuania Dalia Grybauskaitea has pressed lawmakers to break the monopoly of the heat supply market, simplifying the terms of abuse of a dominant market position as well as increasing penalties.
Projects of liquefied natural gas (LNG) reception terminal with a re-gasification plant can break Gazprom’s monopoly in the three Baltic States and Poland, creating a competitive regional market through supply diversification and mutual interconnection.
The Lithuanian Prime Minister Andrius Kubilius has promised to ensure that companies supplying heat to the inhabitants will have to publish their financial indicators.
The Lithuanian State Social Insurance Fund shows a deficit of 2.75 billion litas (LVL 558 billion), however it is 20 million litas less than planned.
In a year's time since October 2009 and October 2010, Lithuania export and import have increased by 43.5% and 37.6%. Similarly in the period of January and October this year, export and import have surged 30.2% and 29.9%.