Lithuanians have just enjoyed a four-day weekend. While employers decry public holidays as a drain on the economy, others say the GDP should not be the main measure of social welfare.
All Saints’ Day on November 1 and All Souls’ Day on November 2 are public holidays in Lithuania, the latter having been made one only a few years ago. This year, they fell on Monday and Tuesday, meaning that Lithuanians enjoyed a four-day extended weekend.
The Lithuanian Confederation of Industrialists estimated that the country’s economy lost 200 million euros – what it produced over two working days.
“Industrial companies have record-size backlogs of orders. So there will be companies that will be working over holidays in order to fulfill their obligations. They’ll simply be paying for overtime, which will press down on our competitiveness,” says economist Titas Budreika of the Confederation of Industrialists.
However, a better-rested workforce also brings benefits for productivity, according to economist Nerijus Maciulis of Swedbank.
“I think that given the level of development in Lithuania, it is obscene to talk about financial losses because the population has a chance to rest,” he says.
Trade unions also point out that discussions about public holidays in Lithuania shift attention away from a more crucial issue.
“We must remember that Lithuania has the paid leave – 20 working days a year,” said the head of the Lithuanian Trade Union Confederation, Inga Ruginiene. “As a progressive country, we should talk more about extending holidays.” (LRT/Business World Magazine)