Republic of Lithuania: Fiscal Transparency Evaluation

International Monetary Fund

No 2019/122, IMF Staff Country Reports from International Monetary Fund

Abstract: This Fiscal Transparency Evaluation (FTE) paper on the Republic of Lithuania estimated Lithuania’s public sector financial position to take a more comprehensive view of public finances in Lithuania. While Lithuania’s overall assessment is comparable to or better than other EU Member States that have undergone an FTE, there is room for further improvement. While the Lithuanian authorities publish a large volume of fiscal reports, they are somewhat fragmented and not easily comparable. The paper also highlights that fiscal risk analysis and management also meets good or advanced practice in many areas but are slightly weaker than the other pillars of the evaluation. It is recommended to consolidate the present array of fiscal reports into a smaller number of user-friendly reports that improve the consistency and comparability of information, as well as its transparency. The report also provides a more detailed evaluation of Lithuania’s fiscal transparency practices and recommended reform priorities.

Keywords: ISCR; CR; State budget implementation report; central government; real GDP; balance sheet; gross revenue; State consolidated financial statements; annual budget; insurance fund; equity investment; natural resources; government balance; financial assets; Budget planning and preparation; Financial statements; Fiscal risks; Fiscal reporting; Europe; Global (search for similar items in EconPapers)
Pages: 64
Date: 2019-05-03
New Economics Papers: this item is included in nep-acc and nep-cis
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