Lithuania to spend 4.6 % of GDP to fight inflation, boost energy independence

The government of Lithuania on April 1 proposed spending EUR 2.26 billion to reduce the impact of higher energy prices and resulting inflation as well as to increase the Baltic country’s energy independence and shift to energy saving and renewable energy sources. The total spending amounts to around 4.6 percent of Lithuania’s latest reported GDP of EUR 48.9 billion in 2020.

Minister of Finance Gintare Skaiste said in press release that the Russian invasion of Ukraine had caused a rapid rise in…