Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Lithuanian opposition party wins first round of parliamentary election

Published 10/12/2020, 03:23 AM
Updated 10/12/2020, 03:25 AM

By Andrius Sytas

VILNIUS (Reuters) - Lithuania's main centre-right opposition party led the first round of a parliamentary vote, election commission data showed on Monday, as high unemployment and rising debt hurt the ruling coalition.

The Homeland Union, which has roots in the 1980s anti-Soviet independence movement, led the vote with 24.8% compared with 17.5% for the Farmers and Greens party (LVZS), an agrarian group that leads the coalition of Prime Minister Saulius Skvernelis.

Although a second round of voting could shift the balance again, the leader of LVZS acknowledged his party might be heading out of government as none of his coalition partners reached the 5% of votes needed to secure seats in parliament.

"Working in opposition could be easier than in the government, and the salary is same either way," Ramunas Karbauskis told reporters on Monday, a day after the vote.

Lithuania's economy has fared better than some European Union states in the coronavirus crisis, but the prime minister has faced criticism for failing reduce unemployment, mounting debt and not doing enough to prevent a new surge in coronavirus infections.

Four other parties collected more than 5% of the vote, securing seats and opening the way for new coalition talks.

Under Lithuania's election system, half of the 141-member parliament was elected on Sunday in a proportional vote. Remaining lawmakers are elected in constituencies, with a run-off vote for the top two candidates in each held on Oct. 25.

Election officials asked voters to mark ballots with their own pens to help prevent the spread of the coronavirus. Lithuania has reported 8,899 coronavirus infections, including a record 205 new cases on Saturday, and 103 deaths.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Many in the Baltic Sea state of less than 3 million people voiced frustration during the campaign that income inequality has persisted despite brisk economic growth since Lithuania joined the EU in 2004 and unemployment running at 8.5%.

A fifth of people were at risk of poverty in 2019, mostly the elderly, unchanged from a decade ago, state figures show.

Lithuania's relative resistance to the economic impact of coronavirus curbs helped the government recover some ground after a slump in the wake of corruption allegations. The economy shrank 4% in second quarter, the second best result in the EU.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.