Lithuanian President Gitanas Nauseda has signed the revised 2022 state budget bill into law but criticised the government for being too slow in countering inflation.
“People pay taxes to contribute to a bigger budget and better public services in good times and to receive timely state support in difficult times,” he said in a statement on May 23.
“It has been almost four months since I proposed to the parliament and the government to increase the non-taxable income rate, to help the country’s seniors and those on lower income. We are facing the biggest price shock since 1996, which is why I am critical of the pace at which the measures have been adopted,” he added.
“But the good thing is that today we finally have the first solid inflation mitigation package this year,” Nauseda said.
The revised budget increased pensions and the non-taxable income rate, as well as introduced compensations for the population for rising electricity and gas prices.
A total of 973 million euros has been allocated to mitigate the effects of inflation, and the budget also includes funds for the reception of Ukrainian refugees, as well as for the railway infrastructure. (LRT/Business World Magazine)
