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Lithuania

This country page contains, or links to, DG ECFIN’s recent analytical work on the economy of Lithuania.

Economic situation

The Commission publishes macroeconomic forecasts for the EU and the Member States three times a year, in the spring (May), in the autumn (November) and in the winter (February). These forecasts are produced by the Directorate-General for Economic and Financial Affairs (DG ECFIN).

Fiscal surveillance

Assessments of Lithuania’s convergence programme

As required by the Stability and Growth Pact, each spring Lithuania submits a convergence programme which presents an update of the medium-term fiscal strategy.

Based on an assessment by the Commission prepared by DG ECFIN, the Council adopts an opinion on the programme and country-specific recommendations in the scope of the European Semester.

Euro area Member States submit stability programmes while countries outside the euro area submit convergence programmes.

The EU Excessive Deficit Procedure and Lithuania

Lithuania is currently not subject to an Excessive Deficit Procedure.

The Commssion published on 15 Nov 2013 a report prepared in accordance with Article 126(3) of the Treaty on the Functioning of the European Union (TFEU).

Macroeconomic surveillance

National reform programme

As part of the Europe 2020 strategy for a smart, sustainable and inclusive EU economy, each spring Lithuania submits a national reform programme (NRP). Based on an assessment by the Commissionpdf Choose translations of the previous link  prepared by DG ECFIN, the Council adopts country-specific recommendations in the scope of the European Semester.

Macroeconomic Imbalance Procedure and Lithuania

The Macroeconomic Imbalance Procedure (MIP) is a surveillance mechanism that aims to identify potential risks early on, prevent the emergence of harmful macroeconomic imbalances and correct the imbalances that are already in place. The annual starting point of the MIP is the Alert Mechanism Report: Based on a scoreboard of indicators and economic judgment, it is a filter to identify countries and issues for which a closer analysis (in-depth review) is deemed necessary. The outcome of these in-depth reviews forms the basis for further steps under the MIP.

No in-depth review has been carried out for Lithuania so far.

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