There are currently 66,480,217 LTC in circulation, with miners getting rewarded with 12.5 LTC each time they process a block (every 2.5 minutes). The 12.5 LTC reward is, just like Bitcoin’s mining reward, subject to halving every four years, with the next Litecoin halving expected to occur in August 2023.
Litecoin has a limited supply of 84 million LTC, and will ultimately move on to rewarding its miners only with transaction fees once every single coin is mined.