Prime Minister meets with Nasdaq’s Chief Economist to discuss economic trends
Prime Minister Gintautas Paluckas met with Phil Mackintosh, Chief Economist at Nasdaq, to discuss current global economic trends. During the meeting, they looked at the impact of tax changes on national economies and exchanged insights on the economic outlook in both Lithuania and the United States.
“Lithuania is getting ready to introduce changes in the financial sector that will hopefully make the country even more appealing to investors,” said the Prime Minister. He assured that the reforms would not create difficulties for businesses but will help build a more supportive environment for investment and entrepreneurship.
The conversation also touched on the competitiveness of the European Union and the business environment in Lithuania, Europe, the United States, and other key markets worldwide. The Prime Minister pointed out the need for Europe to act faster in addressing the economic challenges its member states face and to anticipate future shifts. He highlighted the importance of supporting local capital and businesses while reducing overreliance on China’s dominance in these markets.
Gintautas Paluckas highlighted the need to build a sustainable European ecosystem that nurtures local businesses, especially given today’s complex geopolitical realities. He stressed the urgent necessity for Europe to strengthen its own defence capabilities, rather than relying on imports from other continents.
Both Paluckas and Mackintosh agreed that economic difficulties can sometimes also bring positive change. For example, the influx of low-cost Chinese goods into the U.S. market disrupted local industries but also prompted initiatives to retrain workers displaced from manufacturing, which helped create new jobs. They further highlighted the growing role of artificial intelligence and other innovations in shaping jobs that meet the demands of tomorrow’s labour market.
About Nasdaq
Nasdaq is one of the world’s leading stock exchanges, founded in the United States in 1971. It was the first to introduce an electronic trading system, making it especially important for technology companies like Apple, Microsoft, and Meta. Nasdaq provides a platform for companies to publicly list and trade shares, while also developing exchange technologies and solutions for financial institutions worldwide and offering market data and analytical services.
Since 2015, Nasdaq has operated its office in Vilnius, which serves as one of its main technology hubs outside the United States. This centre plays a vital role in Nasdaq’s global infrastructure and contributes to the growth of Lithuania’s modern financial technology ecosystem. The Vilnius office is responsible for developing, maintaining, and improving trading platforms, market surveillance and risk management systems, as well as data analytics solutions. It is also home to teams specializing in IT infrastructure support, software development, and cybersecurity.