Republic of Lithuania: Fiscal Transparency Evaluation

IMF Staff Country Reports, May 3, 2019

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Republic of Lithuania: Fiscal Transparency Evaluation

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Bibliographic details

• Published: May 3, 2019
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9781498313285.002

Executive summary and overall assessment

• 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.
• Lithuania’s overall assessment is comparable to or better than other EU Member States that have undergone an FTE, but 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.

Fiscal reporting and transparency findings

• Fiscal risk analysis and management meet good or advanced practice in many areas but are slightly weaker than the other pillars of the evaluation.
• The paper highlights fragmentation and limited comparability across existing fiscal reports.

Key recommendations and reform priorities

• 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 provides a more detailed evaluation of Lithuania’s fiscal transparency practices and recommended reform priorities.

Subjects and keywords covered

• Subject: Budget planning and preparation, Expenditure, Financial statements, Fiscal reporting, Fiscal risks, Public financial management (PFM)
• Keywords: annual budget, balance sheet, Budget planning and preparation, central government, CR, equity investment, Europe, financial assets, Financial statements, Fiscal reporting, Fiscal Risks, Global, government balance, gross revenue, insurance fund, ISCR, natural resources, real GDP, State budget implementation report, State consolidated financial statements

Content in this bundle

• Republic of Lithuania: Fiscal Transparency Evaluation; IMF Country Report No. 19/122; March 2019
  • Republic of Lithuania: Fiscal Transparency Evaluation; IMF Country Report No. 19/122; March 2019 (Markdown version)
  • Republic of Lithuania: Fiscal Transparency Evaluation; IMF Country Report No. 19/122; March 2019 (PDF)