Lithuania restoration of the independent state of Lithuania governed by democratic principles, with Vilnius as its capital. The state of Lithuania which had been built within the framework of the Act lasted from 1918 until 1940. Following the capitulation of Germany in November 1918, the first Provisional Constitution of Lithuania was adopted and the first government of Prime Minister Augustinas Voldemaras was organized. At the same time, the army and other state institutions began to be organized. Lithuania fought three wars of independence: against the Bolsheviks who proclaimed the Lithuanian Soviet Socialist Republic, against the Bermontians, and against Poland. As a
Economy of Lithuania degrees of business, fiscal, and financial freedom. Lithuania is a member of the EU and the WTO, so regulation is relatively transparent and efficient, with foreign and domestic capital subject to the same rules. The financial sector is advanced, regionally integrated, and subject to few intrusive regulations. One of Lithuania's most important reforms was the privatization of state-owned assets. The first stage of privatization was being implemented between 1991 and 1995. Citizens were given investment vouchers worth €3.1 billion in nominal value, which let them participate in assets selling. By October 1995, they were used as follows: 65% for acquisition