Government Proposes Fiscal Discipline Law

September 2007
Emerging Europe Monitor: Central Europe & Baltic States;Sep2007, Vol. 14 Issue 9, p12
Country Report
Country Report
The article reports that the Lithuania cabinet has approved a draft law on fiscal discipline to prevent excessive spending and budget deficits. The draft legislation aims to increase fiscal responsibility. It includes a commitment to run balanced budgets or surpluses during economic upturns and allowing small deficits to occur during downturns. Under the law, budget revenues in excess would be saved rather than spent. The reasons behind fiscal restraint are mentioned.


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