European Affairs Committee: The European Commission positively assesses the implementation of the “New Generation Lithuania” plan

European Affairs Committee: The European Commission positively assesses the implementation of the “New Generation Lithuania” plan
European Affairs Committee: The European Commission positively assesses the implementation of the “New Generation Lithuania” plan

in 2022 September 23 press release (more news)

September 23 A delegation of managers and representatives of the General Directorate of Economic and Financial Affairs of the European Commission (EC) and the special RECOVER working group of the EC General Secretariat is visiting the Seimas. During the meeting with the chairmen and members of the European Affairs Committee and other committees, opinions were exchanged about the implementation of the “New Generation Lithuania” plan for revitalizing the Lithuanian economy and increasing its resilience, which in 2021 July. EC assessed positively.

The plan “New Generation Lithuania” includes investments that can be effective and directed to where they are most needed, only after the implementation of structural reforms important to the state. In most cases, reforms must be approved by the Seimas, adopting laws that address both long-term problems and new priorities in the new geopolitical context, related to strengthening energy independence and more efficient use of renewable energy sources.

2.225 billion in the plan that was well evaluated by the EC. provide for the promotion of high added-value economy, digitization, green course and renewable energy solutions, provision of better education, health and social services, fairer and shock-resistant development of Lithuania.

After Russia started a war against Ukraine, the use of the funds of the “New Generation Lithuania” plan for climate purposes (38 percent), in addition to environmental goals, will also help to reduce Lithuania’s dependence on the import of energy resources. The funds allocated for digital transformation (32%) will help Lithuania protect itself from Russian cyberattacks and ensure safer digital services.

The plan “New Generation Lithuania” prepared by RRF – more than 800 billion. in the context of the NextGenerationEU plan, created in response to the economic problems caused by the pandemic. In addition to the planned 2.225 billion Lithuania also has the opportunity to use EUR 3 billion of financing. euro loan to solve today’s challenges.

The report was published by: Monika Kutkaitytė, Chancellery of the Seimas of the Republic of Lithuania

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