Lithuanian Finance Minister Kristupas Vaitiekūnas visits Nicosia for informal ECOFIN meeting

Lithuanian Finance Minister Kristupas Vaitiekūnas attended the informal meeting of the Economic and Financial Affairs Council (ECOFIN) in Nicosia on May 22 and 23. During the event, he emphasized the potential for deeper cooperation between Cyprus and Lithuania in the sectors of tourism and defense. The agenda focused on the global economic situation, oil market instability, fiscal stability within the EU, and the rising cost of fuel. Vaitiekūnas also highlighted the urgent challenge of affordable housing, noting rapid price increases in Lithuanian cities, particularly Vilnius. Regarding energy prices, the minister proposed the implementation of a unified EU-wide mechanism to better manage crisis responses. Furthermore, he reaffirmed Lithuania’s support for Ukraine and its ongoing integration path toward the European Union. He also expressed optimism regarding the next Multiannual Financial Framework and called for a swift resolution to the crisis in Iran and the broader Middle East.