LT: IMF suggests new taxes to be introduced in Lithuania.

By bne IntelliNews May 20, 2011
International Monetary Fund (IMF) representative James Morsink, while visiting Lithuania, suggested that Lithuania should introduce real estate, vehicles taxes, as well as to reduce VAT and profit tax exceptions. IMF forecasts that GDP will grow by 6% y/y in 2011 in Lithuania. While in 2012 the GDP growth is estimated at 4.75% y/y. IMF indicates that the main drivers of economic growth will be exports, and recovering domestic consumption. In October, the last IMF forecasts, were that Lithuanian GDP will grow by 3% y/y in 2011 and 2012. IMF indicates that it is possible to reduce budget deficit to 4% of GDP in 2012, yet it requires additional fiscal measures. According to Morsink, pensions reform, and better tax collection in order to record budget surplus.

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