중동부유럽

A recovery in private investment has supported GDP growth. Private consumption has grown robustly too in the past year, as a tightening labour market has contributed to real wage increases, while the export sector is also performing well.

Tax and pension reforms have been launched. The tax reform introduces new progressivity along with increased tax exemptions for incomes under a certain threshold. The pension reform fully separates the state-backed pension system from the second-pillar voluntary private system, while at the same time strengthening the latter. Both reforms will take effect in January 2019.

Lithuania has joined the OECD. The accession process took five years and was concluded in July 2018. Lithuania will benefit from the exchange of policy experience with other OECD members, which ultimately should positively shape policy decisions in the country.