Abstract
The budget system of Lithuania, one of the nations that recently emerged from the former Soviet Union, is examined. The analysis draws a contrast between the present budget practices and those during the Soviet period, points out the problems that the Soviet budgeting legacy presents to a nation seeking transformation into an independent, market‐based political economy, and discusses other budgeting and financial dilemmas brought on by the bedrock reforms taking place in Lithuania and throughout the former USSR.
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