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Previous issues of THE FREE MARKET are available at LFMI.


1999 October - November
By LFMI
"The Free Market", 1999 No. 6

LFMI evaluated the Year 2000 budget proposal and submitted recommendations for a marked reduction of budget expenditures and a simultaneous reform of state functions and finances to the parliamentary Budget and Finance Committee, the Finance Ministry, the Government and IMF. A press release from LFMI was disseminated October 26 by the Respublika and Lietuvos Rytas dailies. LFMI's experts appeared on the Lithuanian Radio, in the Lietuvos Ryta, Verslo Žinios, and the Veidas journal.

LFMI prepared an analytical study exploring different uses of income from privatisation and their effects on the country's economy. The study was submitted to parliamentary committees, ministries and IMF. A press release from LFMI was published by the Verslo Žinios and Lietuvos Rytas, October 6. On December 6, Rūta Vainienė attended a meeting on the draft law on savings restoration held by President Adamkus. LFMI's vice president gave interviews for major television channels and was featured in the Lietuvos Rytas and Lietuvos Aidas dailies.

On November 24, LFMI issued a press release proposing imperative measures to halt the increase in state liabilities. LFMI's policy analysts appeared about the government's savings programme in the Veidas journal, Kauno Diena, Respublika, the Esu journal and on LNK television.

On November 18, the BNS news agency disseminated a press release from LFMI urging the government to liberalise the oil industry and to remove licenses for trade in oil products. Ugnius Trumpa appeared on the Lithuanian Radio and commented on the effects of state regulation on the oil business for the LNK television.

On November 25, LFMI held a press conference to present the results of the fourth survey of macroeconomic variables in Lithuania. The event was highlighted on the Lithuanian Television, TV3, LNK, the Baltijos Television, Lithuanian Radio, and M1 Plius. The survey results were described in the Verslo Žinios, Lietuvos Aidas and The Baltic Times.

On December 7, Ramūnas Vilpišauskas testified before the Economic Ministry against the introduction of export restrictions on timber and an increase in import duties. LFMI's position was featured in the November 29 Verslo Žinios.

LFMI commented extensively on government proposed measures to tighten tax administration on LNK, TV3 and Lithuanian Television. Rūta Vanienė delivered a paper "Tax Breaks: Origins, Effects and Limits" to a seminar on budget reform held by the Centre Union in Jonava, December 4.

Elena Leontjeva and Ugnius Trumpa attended a meeting of the Economic Ministry December 13 to discuss the World Bank and the International Finance Corporation's study on administrative barriers to investment in Lithuania. LFMI criticised the European Committee's proposed plan for the solution of identified problems and put forward alternative ways for an effective utilisation of the study.

Elena Leontjeva and Ugnius Trumpa attended a conference "Society Against Corruption" staged by the Open Society Fund Lithuania. Ugnius Trumpa commented on the origins of corruption and effective anti-corruption measures in the December 13 Kauno Diena. He presented LFMI's anti-corruption project at an OECD conference in Riga.

On November 14, LFMI submitted to the Economic Ministry comments on the Law on Alcohol Control.

Interviews with Elena Leontjeva on the privatisation of the Mažeikiai oil refinery was published in the October 27 Respublika and The Baltic Times of November 18-24.