Lithuania Lietuvos Bankas News

44% Adults Experienced Financial Fraud: Solutions Discussed at International Seminar in Vilnius

A nationally representative survey conducted in Lithuania as part of an EU-funded project found that 44% of adults experienced at least one type of financial scam or fraud over the past two years, with more than half suffering financial losses and more than one-third of victims who lost money not reporting the incident. An international workshop held on April 22, 2025 in Vilnius brought together representatives from the European Commission, OECD, Lietuvos Bankas, Latvijas Banka, and Finnish experts to translate research findings into concrete policy and market actions for strengthening consumer resilience to fraud.

Lithuanian Economy to Grow Rapidly, Inflation Higher Than Expected

Lietuvos Bankas projects the Lithuanian economy will grow by 3.1% in 2026 under the baseline scenario, moderating to 2% in 2027 before recovering to 2.9% in 2028. Average annual inflation is expected to rise to 5.1% in 2026, decline to 3% in 2027, and return to the typical 2.5% Western-economy level by 2028. Energy prices driven by Middle East military operations are the primary inflation driver, with additional contributions from second pillar pension fund withdrawals and higher indirect taxes.

Gediminas Šimkus Appointed Second Term as Chair of Board of Lietuvos Bankas

On 26 March 2026, the Seimas of the Republic of Lithuania appointed Gediminas Šimkus to a second five-year term as Chair of the Board of Lietuvos Bankas. Šimkus has held this position since 7 April 2021 and also serves as a member of the Governing Council of the European Central Bank.