The IMF ends its mission in Lithuania – presents its conclusions Enterprise

The mission led by Borja Gracia has been working in Vilnius since Might 24 – in two weeks, IMF consultants met with the heads of the Financial institution of Lithuania, the Ministry of Finance and different state establishments and representatives of the non-public sector.

B. Gracia stated final week that because the inhabitants of Lithuania is growing older, the nation wants a structural reform of the pension system, and 2024 is the primary yr when extra folks will retire in Lithuania than new staff will enter the labor market, and as well as, the deliberate retirement age will finish in 2026 elevating the retirement age, which can “improve strain on Sodra”.

The top of the IMF mission in Lithuania additionally stated that it’s needed for Lithuania to extend the effectivity of well being and training methods, and to extend income assortment.

In an interview with BNS, B. Gracia says that with a purpose to accumulate extra revenue for the state finances and improve bills, particularly for pensions, the federal government ought to increase the tax base – improve the revenue tax, increase actual property (NT), air pollution taxation and quit some advantages.

The IMF is a 190-nation group that seeks sustainable financial development and prosperity for all its members. Lithuania has been a member of the IMF since 1992, and is represented on the IMF by the pinnacle of the central financial institution.