Wednesday, 30 March 2011

LITHUANIA: in 2010 emigrants' remittances equal one quarter of wages bill in Lithuania

In 2010, private persons transferred to Lithuania a record sum of 4.1 billion litas (1.188 billion euros), which equaled nearly one quarter of after-tax wages bill in Lithuania. According to SEB bank's financial analyst Gitanas Nauseda, the remittances from abroad did ease the decline of income and consumption during the financial crisis; however, remittances are a less useful type of revenue to the state's budget than wages.

Read more

No comments:

Post a Comment