Wednesday May 27, 12:26 PM
Lithuania finmin says budget cuts should go ahead
MARIEFRED, Sweden, May 27 (Reuters) - Lithuanian Finance Minister Algirdas Semeta said on Wednesday the timing of the next round of budget cuts by the Baltic state should not be revised and that they should go ahead in June or July.
The Lithuanian government has said it wants to cut the budget by a further 2 billion Lithuanian litas ($808 million) in June to keep the deficit below 3 percent of gross domestic product, but Prime Minister Andrius Kubilius this week raised the prospect of a delay.
'We are preparing a proposal for additional budget cuts and in two weeks' time we will discuss it in the government and I think that the timing should be not revised,' Semeta told Reuters on the sidelines of a meeting of senior officials from around the Baltic Sea region.
'So June or July would be an appropriate time for the next round of cuts.' ($1=2.476 Lithuanian Litas) Keywords: LITHUANIA FINMIN/BUDGET
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