President's proposals to increase Bank of Latvia's profit contribution to defense are making their way through the Seimas

The Seimas is paving the way for the president's initiative to increase the central bank's profit contribution to the state budget, with the majority of this amount being directed to defense - the proposal was unanimously approved by the Budget and Finance Committee (BFK). According to Gediminas Šimkus, Chairman of the Board of the Bank of Lithuania (LB), the institution is financially ready to contribute to the financing of the State Defense F…

After the Seimas Budget and Finance Committee on Wednesday approved President Gitanas Nausėda's initiative to increase the Bank of Lithuania's (LB) profit contribution to the state budget, allocating part of these funds to the State Defense Fund, central bank Governor Gediminas Šimkus says that the new LB profit distribution procedure should not affect its operations.