Lithuanian privatisation referendum, 1994

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A referendum on a law revoking privatisation deals was held in Lithuania on 27 August 1994. [1] The proposed law put forward procedures for reversing privatisation deals conducted in a non-transparent manner, as well as compensating citizens for the loss of savings caused by inflation. [2] A total of eight questions were asked, and although around 89% voted in favour of all of them, the voter turnout of 39.6% meant that the threshold of 50% of registered voters voting in favour was not passed, resulting in the proposal failing. [2]

Lithuania republic in Northeastern Europe

Lithuania, officially the Republic of Lithuania, is a country in the Baltic region of Europe. Lithuania is considered to be one of the Baltic states. It is situated along the southeastern shore of the Baltic Sea, to the east of Sweden and Denmark. It is bordered by Latvia to the north, Belarus to the east and south, Poland to the south, and Kaliningrad Oblast to the southwest. Lithuania has an estimated population of 2.8 million people as of 2019, and its capital and largest city is Vilnius. Other major cities are Kaunas and Klaipėda. Lithuanians are Baltic people. The official language, Lithuanian, along with Latvian, is one of only two living languages in the Baltic branch of the Indo-European language family.

Inflation increase in the general price level of goods and services in an economy over a period of time

In economics, inflation is a sustained increase in the general price level of goods and services in an economy over a period of time. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation reflects a reduction in the purchasing power per unit of money – a loss of real value in the medium of exchange and unit of account within the economy. The measure of inflation is the inflation rate, the annualized percentage change in a general price index, usually the consumer price index, over time. The opposite of inflation is deflation.

Contents

Results

Question I

ChoiceVotes%
For749,17289.0
Against92,59311.0
Invalid/blank votes54,013
Total895,778100
Registered voters/turnout2,428,10536.9
Source: Nohlen & Stöver

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References

  1. Dieter Nohlen & Philip Stöver (2010) Elections in Europe: A data handbook, p1201 ISBN   978-3-8329-5609-7
  2. 1 2 Nohlen & Stöver, p1210