Government Programme finds approval with International Monetary Fund


2017 05 15


Earlier today, Prime Minister Saulius Skvernelis has met with Christoph Klingen, IMF mission chief for Lithuania, and other experts. The IMF have handed in to the Prime Minister recommendations for reforms necessary for Lithuania’s economic development.

“I am happy that all the recommendations are consistent with the Government’s agenda and projects underway – from education reform to the promotion of innovations. This is yet another stimulus for us to move forward towards positive changes in the country”, said the Prime Minister.

Christoph Klingen has welcomed Government’s efforts to consolidate public finances and comply with strict fiscal discipline, stressing the importance of the education reform in Lithuania embracing all the levels, i.e. secondary, higher education and vocational training. Country’s efforts to reform the industrial relations and the newly launched incentives for investments in innovation have also found approval with the IMF.

On the education reform, the Prime Minister has noted the long-awaited breakthrough, which is primarily expected to have positive implications on the quality of education, as well as teacher remuneration. Considering the social inequality existing in Lithuania, the Head of Government has been particularly pleased to welcome the recommendation regarding the reduced taxation burden for the poorest.  

Lithuania became IMF member back in 1992. In the initial phase of the cooperation, the most important thing was to have access to the Fund’s financial resources and technical assistance. At the moment, Lithuania’s cooperation with the IMF is based on economic consultation and participation in the analysis process of global economy, financial market developments and repercussions for Lithuania, as well as in the application of international financial activity standards.