2012-02-14 12:41

Lithuania’s business expectations clouded by taxes, elections, and euro crisis

Lithuania’s business expectations are clouded by euro troubles, taxes and elections, the latest corporate poll conducted by the Lithuanian Free Market Institute (LLRI) has shown.
Žilvinas Šilėnas
Žilvinas Šilėnas / Andriaus Ufarto/BFL nuotr.

“The expectations have worsened. Some 33 percent mention the problem of the euro zone – as you know, Lithuania exports a lot,” LLRI president Žilvinas Šilėnas said at a news conference on Tuesday.

Some 29 percent of the respondents mentioned a possible increase in taxes as the biggest uncertainty.

“The discussions about raising taxes – it’s absolutely natural that the response from business is negative,” Šilėnas said adding that 25 percent of the respondents were concerned about the approaching elections.

The poll has also shown that 11 percent of companies intend to move their business abroad.

“Business may emigrate as well. It is a strong signal, which the decision makers should take a note of. It is a signal that internal decisions in Lithuania shall be adequate,” Šilėnas said.

LLRI polled 55 market experts, including corporate executives, CFOs, analysts.

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