Caspian Energy (CE): Your Excellency, the President of the European Commission has recently said that the hardest times of the crisis, that hit the EU, left behind. Do you agree with this opinion and how did the crisis hit the Lithuanian economy?

Algirdas Butkevičius, Prime Minister of the Republic of Lithuania: We believe that the most turbulent phase of the financial crisis in the EU is behind us. What remains is a long and at times difficult job of structural reforms in some member states in order to build a more competitive Union. Lithuania had a significant negative impact of economic and financial crises. In 2009 Lithuania‘s real GDP fell by 14.8% whereas general government deficit reached 9.4% of GDP. During the past four years Lithuania has implemented substantial fiscal consolidation measures, bringing the general government deficit from 9.4% of GDP in 2009 to the 3.2% of GDP in 2012.Lithuania’s real GDP growth rate was 3.6% in 2012 and remained the second highest in the EU. The solid economic growth has been led by the level of exports and implemented structural reforms.