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Gitanas Nausėda sworn in as Lithuania’s new president

Economist Gitanas Nausėda has been sworn in as Lithuania’s new president.

The 55-year-old independent, who replaces outgoing Dalia Grybauskaite, is a political novice who spent most of his career in commercial banking.

Although Lithuanian presidents do not directly craft economic policy, Mr Nausėda said he would seek cross-party deals to bridge the gap between the rich and poor and decrease regional differences.

“We talked about a two-speed Europe but we did not notice that we created a two-speed Lithuania,” Nausėda said in parliament after taking the oath of office.

“We will not have a welfare state if we care only about ourselves while social inequality increases.”

Nauseda received 66 per cent of the vote in May’s presidential election.