立陶宛共和国：2025年第四条磋商新闻稿；员工报告；立陶宛共和国执行主任的发言

2025ARTICLE IV CONSULTATION—PRESS RELEASE;STAFF REPORT;ANDSTATEMENT BY THE EXECUTIVE September2025 Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussionswith members, usually every year. In the context of the2025Article IV consultation with •APress Releasesummarizing the views of the Executive Board as expressed during itsSeptember8, 2025consideration of the staff report that concluded the Article IV •TheStaff Reportprepared by a staff team of the IMF for the Executive Board’sconsideration onSeptember 8, 2025, following discussions that ended onJune 6,2025, with the officials ofthe Republic ofLithuaniaon economic developments and •AnInformational Annexprepared by the IMFstaff.•AStatementby the Executive Directorforthe Republic ofLithuania. The documents listed belowhave been or will be separately released. Selected Issues TheIMF’s transparency policy allows for the deletion of market-sensitive information andpremature disclosure of the authorities’ policy intentions in published staff reports and Copies of this report are available to the public from International Monetary Fund•Publication ServicesPO Box 92780•Washington, D.C. 20090Telephone: (202) 623-7430•Fax: (202) 623-7201 International Monetary Fund IMF Executive Board Concludes2025Article IV ConsultationwithRepublic of Lithuania FOR IMMEDIATE RELEASE •TheLithuanian economyhas proven resilientto multiple shocksin recent years, butnewchallenges are emerging andlongstanding issues still require attention.Defense spendingis settorise further, adding tootherexisting long-term spendingneeds.Income •Giventhenear-and medium-term spending pressures,further fiscal adjustmentsareneeded tostabilize the debt ratio at a lowerleveland preserve fiscal space against future •Financial sector policies should continue to safeguard financial stability and integrity.Structural reforms should focus on improvingfirms’ access tofinanceto facilitate Washington, DC–September17, 2025:OnSeptember 8, 2025, the Executive Board of theInternational Monetary Fund (IMF) completed the Article IV Consultation fortheRepublic of Growthaccelerated to 2.7 percent in 2024,largely driven by private consumption supportedby real income gains, offsetting the impact of weak investment and net exports.Inflation waslow in 2024, averaging 0.9 percent, partly driven by negative base effects from decliningenergy prices. Inflation increased to 3.1percent in June 2025, partly reflecting increased exciseduties. Core inflation remained high in 2024 and the first half of 2025, reflecting persistently The budget deficit increased to 1.3 percent of GDP in 2024butwaslower thanoriginallyplanned, largely due to the higher surplus of social security funds and stronger than expected tax revenues, as well as lower expenditure on goods and services. Public debt rose to 38.2percent of GDP in 2024. Defense expenditure reached 2.8 percent of GDP in2024 andisexpectedto rise to 5 percent of GDP for 2026-30 in line with new NATO commitments. Growth is expected to reach 2.9 percent in 2025, supported by private consumption andinvestment, against lower yet continued real wage growth,easing financial conditions,andsupport from EU funds. Growth is projected to accelerate further to 3.4 percent in 2026, largelyreflecting increased private consumption driven by anticipated withdrawals from the Pillar II Executive Board Assessment Executive Directorscommended the Lithuanian economy’s resilience in navigating achallenging external environment supported by strong fundamentals and policy frameworks.Directors noted, however, that risks are tilted to the downside—including from a potentialeconomic slowdown in trade partners, heightened geopolitical tensions, and demographic Directors underscored the need for a comprehensive fiscal strategy to address pressuresstemming from the expected increase in defense spending as well as long term expenditureneeds related to aging and the green transition. While welcoming the authorities’ recent taxmeasures, Directors broadly agreed that additional revenue mobilization measures andspending efficiency gains are needed to stabilize debt and preserve fiscal space, coupled with Directors welcomed the banking system’s solid capitalization, ample liquidity, and low NPLratios, and called for continued close oversight. While considering the macroprudential stanceto be appropriate, they emphasized the importance of continued vigilance over credit growth,house price dynamics, and commercial real estate risks, and encouraged readiness to adjust markets to facilitate investment growth, which would also help reduce Lithuania’s external Directors stressed the need for continued structural reforms to raise productivity and alleviateskills mismatches. They supported measures to deepen SME financing, acceleratetechnological diffusion and AI adoption, and improve vocational training and migrant labor REPUBLIC OF LITHUANIA STAFF REPORT FOR THE 2025 ARTI