Valys cancels US trip as parliament begins budget work

Lithuanian Finance Minister Taurimas Valys has cancelled a planned visit to the United States as work on next year’s state budget is about to begin in parliament, LRT reported in an article by Ūla Klimaševska of ELTA.

The government is expected to approve the 2027 budget draft on Friday, and Valys is due to present it to the Seimas next week. His visit to Washington had been scheduled for October 25 to 29, but the Finance Ministry said it was cancelled on Thursday morning because of his busy schedule and priority work in Lithuania.

The ministry said meetings had been arranged with World Bank President Ajay Banga, International Monetary Fund officials, including the directors of its Fiscal Affairs and European departments, the IMF mission team for Lithuania, representatives of the Lithuanian diaspora and the American Chamber of Commerce. Meetings with US Treasury officials, IMF Managing Director Kristalina Georgieva, think tanks and other institutions had also been under discussion.

The Lithuanian embassy in Washington had invited members of the Lithuanian community to meet Valys on October 26. The ministry said the minister’s schedule is continually updated to reflect the most pressing issues.

Several trips to Brussels are planned but not yet confirmed while the budget is under consideration in parliament. They would include meetings of the Eurogroup and ECOFIN, as well as the Cohesion Council. A visit to Germany is planned for late November for the 36th Frankfurt European Banking congress, along with a meeting with Germany’s finance minister. In early December, Valys is due to travel to London to meet the UK chancellor of the exchequer.

The ministry said Valys intends to spend most of his working time in Lithuania and prepare intensively for Lithuania’s presidency of the Council of the European Union.

How parliament considers the budget

The Seimas considers the state budget in two stages. After the draft is presented, parliamentary committees review it, with the Budget and Finance Committee serving as the lead committee. Other committees must submit their proposals to it by November 10.

The draft then receives its first consideration in the Seimas chamber before being returned to the government for revision. At the second consideration, the government presents an amended draft. The budget is then approved at one of the following parliamentary sessions. If there are significant objections, the draft can be sent back to the government again. After parliament adopts it, the president is expected to sign it.

Minister faces criticism

Valys has faced criticism from both opposition parties and coalition partners over what they describe as communication problems and a lack of competence during the budget process.

In July, while being considered for a ministerial post in the new government, Valys drew sharp criticism from the Conservatives. After attending a meeting of their parliamentary group, he said he felt he was being “examined” and later said he would not let anyone humiliate him.

Former prime minister Ingrida Šimonytė said at the time that he appeared to have arrived unprepared. The Conservatives later criticised Valys’s competence and raised questions about possible links stemming from his previous work at a credit union. Democrats in the governing coalition also questioned his competence. Algirdas Butkevičius, a member of the Democrats’ parliamentary group and a former finance minister, was among those who criticised possible gaps.