Rimantas Šadžius (born 8 October 1960) is a Lithuanian politician and economist affiliated with the

Social Democratic Party of Lithuania The Social Democratic Party of Lithuania (, LSDP) is a centre-left and social democratic political party in Lithuania. Founded as an underground Marxist organisation in 1896, it is the oldest extant party in Lithuania. During the time of the ...

. He currently serves as the

Minister of Finance A ministry of finance is a ministry or other government agency in charge of government finance, fiscal policy, and financial regulation. It is headed by a finance minister, an executive or cabinet position . A ministry of finance's portfolio ...

under Prime Minister

Gintautas Paluckas Gintautas Paluckas (; born 19 August 1979) is a Lithuanian politician who has served as the 18th prime minister of Lithuania since December 2024. He was previously Deputy Mayor of Vilnius from 2015 to 2019, led the Lithuanian Social Democratic P ...

, a position he assumed on 12 December 2024. Šadžius has held the finance portfolio multiple times, having previously held it from 2007 to 2008 and from 2012 to 2016.

Early life and education

Born in

Vilnius Vilnius ( , ) is the capital of and List of cities in Lithuania#Cities, largest city in Lithuania and the List of cities in the Baltic states by population, most-populous city in the Baltic states. The city's estimated January 2025 population w ...

, Šadžius graduated from

Vilnius University Vilnius University ( Lithuanian: ''Vilniaus universitetas'') is a public research university, which is the first and largest university in Lithuania, as well as one of the oldest and most prominent higher education institutions in Central and Ea ...

with a degree in chemistry before transitioning into public administration and economics.

Political career

Šadžius began his political career in the Ministry of Finance, holding various senior roles before being appointed as Minister of Finance.

Minister of Finance

First Term (2007–2008)

Šadžius was first appointed Minister of Finance on 16 May 2007 under Prime Minister

Gediminas Kirkilas Gediminas Kirkilas (; 30 August 1951 – 20 April 2024) was a Lithuanian politician who was Prime Minister of Lithuania from 2006 to 2008. Life and career Kirkilas was born in Vilnius in 1951. After returning from mandatory military service, ...

. During this time, he worked on fiscal reforms and preparations for Lithuania's eventual adoption of the euro.

Second Term (2012–2016)

Šadžius returned to the Ministry of Finance in December 2012 under Prime Minister

Algirdas Butkevičius Algirdas Butkevičius (born 19 November 1958) is a Lithuanian politician and was Prime Minister of Lithuania, serving between 2012 and 2016. He also served as the Minister of Finance from 2004 to 2005 and the Minister of Transport and Communica ...

. His second term focused on navigating Lithuania through the post-2008 financial crisis recovery, implementing tax reforms, and enhancing fiscal stability. During this period, he chaired the

Party of European Socialists The Party of European Socialists (PES) is a Social democracy, social democratic European political party. The PES comprises national-level political parties from all the European Economic Area, European economic area states (EEA) plus the Unit ...

’ Finance Ministers Network, where he advocated for measures against corporate tax avoidance and promoted fiscal harmonization in the European Union.

Current Term (2024–present)

Following the

2024 Lithuanian parliamentary election The 2024 Lithuanian parliamentary election was held on 13 and 27 October 2024 to elect the 141 members of the Seimas. Parliament members were elected in 71 single-member constituencies using the two-round system, and the remaining 70 in a single ...

, Šadžius was nominated by Prime Minister

to serve as Minister of Finance, succeeding Gintarė Skaistė. He took office on 12 December 2024 and has outlined priorities that include reducing income inequality, increasing public sector efficiency, and enhancing Lithuania's economic resilience amid global financial uncertainties.

Post-ministerial career

Between 2016 and 2024, Šadžius served as a member of the

European Court of Auditors The European Court of Auditors (ECA; French: ''Cour des comptes européenne'') is the supreme audit institution of the European Union (EU). It was established in 1975 in Luxembourg City, Luxembourg and is one of the Institutions of the European ...

, where he focused on improving transparency and accountability in the management of EU financial programs.

Other activities

European Investment Bank The European Investment Bank (EIB) is the European Union's investment bank and is owned by the 27 member states. It is the largest multilateral financial institution in the world. The EIB finances and invests both through equity and debt sol ...

(EIB), Ex-Officio Member of the Board of Governors (2007–2008, 2012–2016, 2024–present) *

International Monetary Fund The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution funded by 191 member countries, with headquarters in Washington, D.C. It is regarded as the global lender of las ...

(IMF), Ex-Officio Alternate Member of the Board of Governors (2007–2008, 2012–2016, 2024–present)

Personal life

Rimantas Šadžius is married and resides in Vilnius. He is an active supporter of cultural and educational initiatives aimed at fostering economic literacy among young people.

References

External links

Official website
{{Eurogroup 1960 births Living people European Court of Auditors people Ministers of finance of Lithuania Politicians from Vilnius Social Democratic Party of Lithuania politicians