2021-09-29
National Audit Office provides fifth updated COVID-19 consequence management factsheet
The auditors of the National Audit Office provide a fifth factsheet on the management of the consequences of COVID-19 having collected, analysed and systematised data on the implementation of the measures adopted by the government to support corporate liquidity and promote the economy affected by the pandemic.
Between 2020 and 2021, the state provided over EUR 3.6 billion through various COVID-19 support measures, of which EUR 3 billion were meant to preserve business liquidity. Over 58 000 companies benefited from the support measures, of which 277 have been the subject of insolvency proceedings. The total credit obligations of these companies to the state (without subsidies and guarantees) amount to more than EUR 39 million.
When comparing the statistics for the first half of this year with the same period last year, 26.6 per cent fewer bankruptcies of legal entities are recorded. Most of them were announced in the fields of logistics, real estate and culture. The extremely low rate of bankruptcy statistics was influenced by the legal regulation adopted during the pandemic, ensuring that companies in difficulty could not start bankruptcy during and for 3 months after the quarantine. Given that the quarantine in Lithuania was lifted three months ago, a jump in bankruptcies is expected at the end of autumn.