Lithuania's long-term economicstrategy aims at building the foundations for achievingrapid convergence with Western European countries. Themedium-term objective of the economic policy is to meet theeconomic criteria for accession and to get ready formembership in the European and Monetary Union (EMU) afteraccession. This will be acheived through continuedmacroeconomic stability, fiscal consolidation, and furtherimplementation of structural reforms needed for an efficientfunctioning of the market economy, improved productivity,and enhancement of competitiveness. This report focuses onthree critical elements of the structural reform agenda: 1)labor market reform, aimed at increasing labor marketflexibility and improving the utilization of labor resourcesthroughout the economy; 2) regulatory reform and reform ofthe business environment, to support private sectordevelopment and growth in both urban and rural areas; and 3)social protection reform, to improve targeting,effectiveness, and efficiency.
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